The Marketing Formula is a term curated by Franpos marketing specialists.
We have curated a four-step process that describes a formula to make business operations easier.
This marketing formula can benefit businesses from Customer Relations -> Referrals.
This marketing formula can be described as:
- Customer Relations -> Customer Loyalty
- Customer Loyalty -> Repeat Purchases
- Repeat Purchases -> Referrals
This process breaks down business activity from customer relations to referrals.
In this article, we will be discussing how to apply the Franpos Marketing formula to your business.
Customer Relations to Customer Loyalty
Customer Relations can be implemented in multiple ways.
Implementing experiences at your business is an amazing way to jumpstart this process.
To start, providing a consistent experience for your customer, every time, can truly benefit your reputation.
Consistency is key, and when clients experience similar interactions with your employees, they will start looking for consistent experiences with your brand.
Creating a relationship with your customers is the key to customer relations.
In the opinion of Franpos, it is lucrative and strategic to utilize SMS/Email marketing to connect with your customers.
With this type of marketing, you can notify customers about discounts, promotions, and even send them messages on their birthday.
At Franpos, we have 16 different marketing triggers that ranges from send manually to automatically notifying a customer who hasn’t purchased in a certain number of days.
With a platform such as this, your ability to connect to customers can become witty, personal, and an experience your clients look forward to.
With a positive experience and B2C relationship, customer loyalty is created.
Customer Loyalty to Repeat Purchases
A client is more likely to purchase repeatedly from your business if they are loyal customers.
With that being said, gaining customer loyalty leads to repeat purchases.
Knowing this information, it is vital to gain and maintain loyal customers, as they will be responsible for the majority of your sales.
So, to incentivize repeat purchases, one must keep their loyal customers happy.
As it relates to Franpos, our Growth Marketing tool allows customers to redeem loyalty points from your store in order to enjoy incentives.
This keeps customers purchasing from your brand, as they are interested in redeeming amazing perks.
Once customers repeatedly purchase from your business, they are more likely to refer your goods/services.
Repeat Purchases to Referrals
Referrals are a vitally important aspect when it comes to growth.
To grow your business requires organic expansion, which can be in the form of referrals.
Not only do referrals expand awareness about your brand, but referrals are more likely to be loyal to your brand than organic leads because they have a pre-positive connotation about your business.
When a friend referred an amazing salon to a friend, the customer initially feels less skeptical about the salon, and will most likely be more loyal to that business.
The power of referrals is amazing and should be implemented into your business practices.
Aside from organic referrals from repeat purchasers, you can offer a ‘bring a friend’ program through the Franpos SMS/Email Marketing services.
This campaign can double your customer base, double revenues for that timeframe, and create the opportunity to expand the CRM you send SMS/Email Marketing to.
From customer relations to referrals, your business has an opportunity to expand through the Franpos Marketing Formula.
By utilizing our Growth Marketing platform, which sends SMS/Email messages, you have a better chance of seeing amazing results.
- Customer relations -> Customer loyalty +
- Loyalty -> Repeat Purchases +
- Repeat Purchasers -> Referrals
- Revenue Expansion!
By utilizing these three steps, your business has a high chance of expansion and revenue increases long term.
By focusing on gaining referrals, your business can truly expand and multiply at an astounding rate.
In conclusion, the marketing formula can increase revenues and expand your business through customer relations.
If you are interested in booking a free demo with one of our marketing consultants, you may do so here.