While this is a general goal for business owners, you should note that the rate at which customers would buy a product would differ from industry to industry.
It does not make any sense to try to make a customer buy a house more than once a year, but it makes absolute sense to get them to buy groceries every weekend or month-end. This difference in frequency of purchase is a result of the durability and use of the product.
3. Increase Profitability – The most obvious reason a business would want its customers to buy more frequently is that it is a great way to increase their revenue. A report by Adobe on e-commerce stores shows that although repeat customers were only 8% of a business’s customers, they contributed 41% of an e-commerce store’s revenue.
If you can get 41% of your revenue from 8% of your customers, won’t you want to increase that section of customers?
According to the Pareto principle, 20% of your customers can contribute 80% of your revenue – it makes sense to believe if e-commerce stores and other businesses can increase the purchase frequency of their customers, that segment of customers can account for a significantly higher portion of their revenue, thereby increasing their profitability.
You can use email campaigns to keep in touch with customers
You can use different social media channels to be present for your customers when and where they need you
You can run online adverts like retargeting ads to keep your customers coming back for more.
4. Get them To Subscribe to Recurring Orders – More businesses are offering subscription plans because it is an effective way to both increases their customer purchase frequency, increase revenue and makes it all predictable.
Small businesses can develop subscription plans for their customers if they are not operating a subscription model. A good example is Amazon offering Amazon prime. On the other hand, businesses that operate subscription models can try to get their customers to subscribe to longer periods.