Walk into any McDonald's, order a Quarter Pounder, and the cashier will invariably ask, "Do you want fries with that?" Each affirmative answer adds $1 or more to that particular sale. If just a fraction of McDonald's' 54 million daily customers say yes to that question, that's millions of extra dollars every day!
This idea is important for all businesses: try to earn more money from each customer. Instead of just getting more new customers, help the ones you already have to buy a little more. When each person spends more, your business makes more money. Using Flowte makes this easy!
Understanding your "Average Spend Per Customer" is essential. Calculate it by dividing your total revenue by the number of customers.
The journey includes every interaction a customer has with your brand. Flowte handles every touch point.
Add complementary products and services to enhance the customer experience. Providing tailored options encourages higher spending and builds loyalty.
How can we modify customers behavior in a way that benefits our organisation. Incentivise activities that drive spend per customer.
Flowte has all the tools to get your customer to buy more often, drive loyalty and customer engagement.
Analyse customers previous purchase data. Derive meaningful insights by layering multiple sources of customer data together.
Increasing revenue isn’t just about attracting new customers. Initially, our focus was on boosting the spend per customer. Let’s assume we’ve successfully implemented these strategies, raising the average spend from $25 to $32 per customer. That’s an increase of $7 per customer. If your business serves 50,000 customers, this $7 rise translates to an additional $350,000 per period.
To further enhance revenues, we must now concentrate on customer frequency. If the average customer makes 10 purchases per season, how can we increase that to 13 purchases per season? By achieving this and maintaining the $32 spend per customer, those extra three purchases can generate an impressive $4.8 million in additional revenue.
By focusing on both increasing the amount each customer spends and encouraging them to engage more frequently, any business—whether B2B or B2C—can significantly boost its revenue. Tools like Flowte can help manage and optimize these strategies, ensuring sustained growth and profitability.
Flowte clients focus on enhancing their core offerings to appeal to a diverse range of target groups. The key is to transform special occasions or peak times into inclusive experiences by broadening the customer journey.
For businesses that primarily operate during specific periods or events, attracting new customers involves maximizing potential during off-peak times. This can be achieved by offering additional services or spaces for various purposes, such as corporate meetings, workshops, private parties, or community events. Additionally, providing complementary options like retail shops, guided tours, interactive experiences, or workshops can attract casual customers, tourists, and loyal patrons.
The essential strategy is to use consistent systems for all operations and customer interactions across every offering. This uniform approach allows businesses to gain deeper insights into customer interests and behaviors, enabling more personalized marketing and improved customer relationships.
The customer experience shouldn’t be limited to a single interaction but should be engaging before, during, and after. Many businesses have a stable customer base, often seeing the same customers return regularly. It’s extremely unlikely through advertising or marketing alone to convince, for example, a loyal customer of one service to suddenly try a completely different offering. Additionally, most businesses tend to attract a specific demographic.
Given that we can’t “create” new customers from scratch, we need to focus on enhancing the core offering to appeal to a broader range of target groups. The best way to achieve this is to transform your main service into a comprehensive experience for everyone.
Expand the service offering
Add Pre-Service Activities:
Include Post-Service offers
Offer behind the scenes insights