Of course you should always be on the hunt for new customers, but this doesn’t mean that you should neglect the ones that you already have. According to research, within the first year, over 30% of customers order from the same company more than once. So while generating new leads can be a good idea, Singapore business owners should never forget about their current opportunities. In fact, you can always reconvert these customers by running special ads for them. Cross and upselling can extend the customer’s lifetime value. It can also increase your revenue.
So, how should Singapore businesses go about leveraging their paid ads? Well, this is where platforms like Google and Facebook can come in handy. Making social networks apart of your marketing plan can increase your success with your current customers.
Cross-Selling vs. Upselling
So what is cross-selling and upselling? Cross-selling refers to the process of selling services and products that will supplement or compliment purchases that the customers have already made. For instance, a customer who has just purchased a new mobile phone can also be offered a protective case to go along with it.
Upselling refers to the process of encouraging customers to add services or even purchase a model that is more expensive. For instance, someone may come into your clothing store in search of new pants. However, you may sell them an entire outfit to match the pants.
No matter what industry you’re in, every Singapore business should use upselling and cross-selling opportunities. Not only does it increase the lifetime value of your customer but it also encourages repeat purchases and brand loyalty. Here are a few ways to cross-sell and up-sell using social and paid search advertising.
1. Strategise Your Messaging
When creating the perfect strategy, you need to think about what motivated the person to make a purchase from you in the first place. What were their past purchases? What demographics do they fit into and are they share similar patterns with people similar to them?
By taking the time to do your research and answering all of these questions, you will be able to put yourself in your customer’s position. You’ll know what motivates them. And this means that you will do a much more efficient job of up-selling to your past customers.
So if you sell a product that you know your customer uses on a daily basis, then estimate how long it will take before they run out of that product. This way, you can time your up-sell perfectly. Think about ways to get the person to buy the product from you again. For example, if your average buyer is working according to a strict budget, then you could always offer a discount on their next purchase. If the product is high-end, then you could show a celebrity using it. Buyer persona is an important part of this process.
2. Create Targeted Lists
Now that you know what your past customers want and need, you need to create a list and break them up into segments. This way, you can ensure that your appeal fits them perfectly. The great thing is, you already have all of their contact information. So it makes it easier to personalise your messages.
Just remember to keep your list organised. If someone has already purchased a certain product, they don’t want to see an advertisement for the same product the very next day or week. However, the person may be interested in products that complement their previous purchase. And this is where cross-selling comes in.
3. Institute Smart Remarketing
If you want to automate your upselling and convert people with the least amount of effort, then try remarketing. Sure, you will still need to monitor and configure your campaign, but once everything is up, it pretty much runs itself. After creating your list, you need to run your ads. Configure your remarketing campaigns in your favourite social platforms and Google so that you can appeal to specific customers with your personalised messaging.
4. Remind Customers of Why They Chose You
Out of all of the competition, why did your customers choose you? What made your products or services special? These are things that you need to remind your audience of. This helps to further encourage brand loyalty. And loyalty will help you to retain them for longer and get referrals. This is one of the primary reasons why branding shouldn’t only be reserved for the top of your funnel. It’s easier to sell emotions to those who have already made purchases from your company.
5. Create Personalised Offers for Customer Incentives
It’s important that you take the time to analyse your customers past purchases because you’ll be able to get more personal with your offers. If you want to make these customers feel valued, then why not offer special discounts and free gifts as a reward for making another purchase. For instance, if you own a Singapore spa, then as a result of their last purchase, you can send them a free facial or massage upon their next visit. You can even consider offering a points system where customers earn points each time they visit and eventually the points could result in a free product or service.
6. Don’t Let Customers Forget Their Shopping Carts
If you notice that there are some repeat customers who tend to abandon their shopping carts, don’t always assume that they have lost interest in the items. They could have simply become distracted by something else. So let them know that they have items waiting for them. This is a great opportunity for remarketing. Let them know that they are missing out.
Not only does this work for e-commerce but also for Singapore businesses that are in the SaaS industry. Consider how much time your customers spend on related product pages. This could be from 1 to 30 minutes. When it comes to upselling, timing means everything when it comes to upselling!
7. Segment Your Ads by Time/Day
Consider the time in which you show your products. For instance, if the last product that purchase lasts an average of 40 days, start your remarketing within 15-20 days of the purchase. Make sure that your ads are constantly running as you want to remain at the forefront of their minds when it comes time to replace the product.
When it comes to the best days and times, there are a lot of statistics available. However, it’s best to base your decision on your own data. You can these to schedule your ads on search and social platforms so as to make sure you’re serving your ads at the most optimal times. Take your customer’s leisurely and work hours into consideration.
8. Run RLSA Campaigns
There are many Singapore business owners who don’t have experience with Remarketing Lists for Search Ads, or RLSA. And this is a great time to learn their benefits. RLSA Campaigns give you the ability to tailor all of your search campaigns based on your customer’s previous actions on websites or apps. They’re somewhat different than remarketing ads in that they appear on the search network as opposed to the display network, when certain users type in certain keywords. This ensures that your messaging is highly targeted. Also, RLSA’s can result in 2 to 3 times higher CTR and conversion rates.
If you’re not remarketing to your past customers, then you’re really missing out on a lot of opportunities. These are the individuals who are the most likely to buy from your within the next year. So get to know more about them. What do they need? What do they want? What were their last purchases? In this way, you can take some of the work out of your digital marketing.