The secret to retailers' future success is pretty simple: entice your customers to return to your store.

Communication, product quality, and the reputation of your shopping experience go a long way toward bringing them back. Sometimes, however, customers need a little extra incentive.

That’s where bounce-back promotions come into play. Closing a transaction by offering a discount on a future one (spend $50 and get $10 off the next purchase, for example) shows customers that they’re appreciated and induces repeat business.

As the number of purchases by a given customer increases, so does the likelihood of them buying from you again. That’s why bounce-back promotions are part of the robust promotion engine included in Jumpmind’s innovative point-of-sale system, Jumpmind Commerce.

Satisfied customers come back. A significant chunk of retail store revenue is created by repeat customers – even though they represent a smaller slice of the overall customer base. Thus, small gains in retention rates can produce large spikes in revenue.

Repeat customers share your store more. Employ bounce-back promotions to help convert new customers into your future.

 

Author: Ben Crites