Thank you for your order. Please take 15% off your next purchase.
A major form of revenue for businesses is the bounce back offer. Many companies today are using this strategy to build stronger repeat business with customers who have recently purchased. For example, the other week I purchases a holiday gift for a loved one (don’t tell) from Levenger and in the box was a printed sheet offering me 15% off on my next purchase.
I wasn’t insulted by the offer and felt quite good about receiving the great item I had purchased as well as a valuable offer for my next purchase. And believe me – there is plenty more I’d like to purchase.
I’m sure this is the case with your current customers as well.
Let’s take a deeper look at the impact a bounce back offer can have for your business… [private_member]
In today’s economy, customers are looking for businesses that offer value and quality. This includes quality products and services at competitive prices. Customers are also willing to pay a little more for a higher quality product or service if they know the product will have lasting quality as well as purchase services they know will having lasting impact on their personal enjoyment or advancement.
In short – customers are looking to be loyal to quality businesses they can trust to provide value to their lives.
A way businesses can offer value is by showing their appreciation for each customer’s loyalty. In return, a strong bounce back offer is essential to show your customers that you want their businesses again. It shows that you’re not just after one sale. It shows that you are willing to offer value for their next buying decision.
There are many ways to offer value with a bounce back offer and it doesn’t always need to be an offer (although many consumers are looking for this today). A couple ideas that come to me off the top of my head for, say, a waterfowl outfitter include:
Sending a follow-up email (or print mail package) to clients with pictures, thank you letter, sticker, and an offer to hunt again next season (with up to five friends) for 20% off this year’s rate
Since most hunting seasons take place in the fall, send a follow-up email or print mail packages to your customers from this season giving them a discount on next year’s hunt as well as an offer to allow them to give a hunting package as a gift
Send an exclusive, preferred customer, email to your clients from this past season (and other seasons) for an exclusive, first chance offer on a new hunting package you have in store for next season (customers love when they get first dibs on something special)
Send an email to this season’s hunters thanking them for their business and offer them 20% off next season’s hunt if they purchase before the end of the year
Build loyalty and long-term relationships with your customers this season by sending them something valuable as a bounce back offer when you thank them for their purchase with you this season.
New Products and Services
In one of the examples above, I mentioned that you can market your new products and services in bounce back offers to your existing clients.
If you have done some research for new products and services your business can provide, one of the logical places to begin marketing that new item is to your existing clients. By sending them a valuable bounce back offer that introduces your new product or service, you’re likely getting your new item in front of them when they’re at their peak excitement of their original purchase. Chances are high that they’ll be satisfied with their original purchase that they’ll feel good about purchasing more from your trusted company.
For example, think of getting a new tree stand in the mail from Cabela’s and being so happy with finally being able to touch the product that you almost miss the offer in the package for 10% off your next order for new tree stand attachments and accessories. You think, “I love this tree stand. Do I want to buy the hand rail attachment so I can steady my aim when that trophy buck walks by? Yes I do!”
Are you offering new products and services in the future? Think of using bounce back offers to introduce these items to your existing customers at a time when they are likely to feel emotionally connected to your trusted company.
Bounce back offers can also work for companies willing to work together to market their products to each other’s customers.
Lots of companies offer package insert programs so other retailers can insert printed offers into the outgoing packages. Some companies have taken this strategy to the Web with transactional emails they send to their customers.
Are you an outfitter looking for a way to expand your reach next season?
Try testing a few email ads on the transactional emails or a printed item in another company’s outgoing packages.
You could try asking a gun shop for an opportunity to exchange bounce back offers to each other’s customers. You could offer a 10% discount to their customers who purchase new shotguns or hunting rifles.
“With your order of your new Remington 870 Shotgun, take advantage of 10% off guided, guaranteed waterfowl hunting in Wisconsin”
There are lots of ways to take advantage of bounce back partnerships.
Bounce back offers have been around for a long time because it’s a strategy that works for businesses.
Think about ways you can offer value to your existing customers at a time they feel emotionally connected to your business – as they’re receiving your product or service or just after they have received the product or service.
Can you think of any other ways you could take advantage of bounce back offers?
Please share your ideas in the comments below.
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