One of the most important key metrics to look at for a manufacturing business is purchase frequency. It measures how often a customer purchases from you within a given time period and can provide key insights into how satisfied your customers are with your products. Whether a given purchase frequency is good or bad depends largely on your industry and types of products, but, generally, the higher the purchase frequency, the better it is for your business.
Why purchase frequency matters
Purchase frequency can tell manufacturers how customers actually feel about their products. For example, many people may be hesitant to tell you about an issue they have with your company or its products. But if their purchase frequency begins to taper off, then you know that something is wrong. Because if they aren't buying from you, then they are most likely buying from a competitor who they feel is doing something better than you.
The benefit of consistently tracking and analyzing this key metric is that you can reach out to customers who begin buying less from you, before they leave you entirely. Ask them how things are going, if their needs are being met, if there is anything you can do to improve their experience, etc. By checking in with them, you can uncover any potential issues with your products or processes, and you are showing the customer that you care about them.
The main benefit of understanding purchase frequency is to gain insights into your customers' thoughts and behavior. Now, let's take a look at how to improve it.
Benefits of email marketing: boost your purchase frequency
The surest way for manufacturers to increase purchase frequency is to distribute emails to their customers and prospects, reminding them what you do and why they should do business with you. At Winsby, the customers on our clients' email lists purchase two to three times more often than those who aren't on the list. The types of emails we develop always feature your capabilities, a happy customer, and best practices that make you stand apart from your competitors. We find that our emails are the best way to get results, because they remind customers of everything you do, what you know, and how happy your customers are. If the emails are put together effectively, your customers will be encouraged to purchase again. The clients we send emails for have an average return on investment of about 4,300%.
You need effective emails to increase purchase frequency
Manufacturers can only reap the benefits of email marketing if they are done the right way. They have to look professional, have copy that compels the reader to take an action, and have CTAs that link to your website. Emails have to make it easy for the reader to understand what you are saying and act on the information in them.
When it comes to improving key metrics, you also have to send the emails to the right people. Tailor specific messaging to different segments of your email list who have a downward trending purchase frequency. Include a deal or special to push them to buy from you again and increase how often they purchase from you.
How to move forward
At Winsby, we give manufacturers the tools and methods for increasing their purchase frequency. We'll help you craft the right messaging and create emails that lead to customers and prospects purchasing more and more often from you. If you want to take advantage of the benefits of email marketing and increase purchase frequency for your customers, then the Winsby team can help.