Fiscal cliff or not, spending is up by consumers and businesses. Now’s the time to tap these customers to buy more.
The loyal customers – who stuck with you while the economy was at its lowest – are more likely to be the biggest buyers as times get better, Harvard researchers have found.
Even if loyal customers have bought less or infrequently in the past few years, they deserve some extra love nowadays. As their income grows, their spending on the things they want will increase. If they’ve shown they like you through tough times, they’ll be ready to hear about what else you have to offer.
Your best bet: Find ways to make loyal customers’ lives or business operations easier. Look into ways you can eliminate paperwork, bundle orders, take steps out of processes, etc. Once you resolve an issue, then it’s time to introduce them to new or different products.
