Typically, a customer who bought 12 months ago has less chance of buying compared to a person who bought last week, all else being equal.
If you sell cars, then yes, that cycle might be 3 years.
Or if you sell houses, it might be a 5 year cycle.
What you do want to do is have a list of your top customers. You can even use different tiers, for example:
1. Platinum Customers (VIPs)
Description: Your most loyal and high-value customers. They purchase frequently, spend the most, and may be an advocate for your brand.
Characteristics:
- High purchase frequency and value.
- Long-term relationships with your brand.
- Likely to refer others and leave positive reviews.
Strategy:
- Offer exclusive rewards, personalized experiences, and early access to products or services.
- Provide dedicated account managers or concierge services.
2. Gold Customers (High-Value Customers)
Description: Significant contributors to your revenue, though slightly less frequent or engaged than Platinum customers.
Characteristics:
- Regular buyers with moderate-to-high spending.
- Show potential to become Platinum customers.
Strategy:
- Implement loyalty programs or upsell/cross-sell strategies.
- Provide targeted promotions to increase purchase frequency.
3. Silver Customers (Occasional Buyers)
Description: Customers who purchase occasionally but are not fully loyal.
Characteristics:
- Moderate spending with infrequent purchases.
- May shop with competitors or during sales.
Strategy:
- Focus on re-engagement through email campaigns or retargeting ads.
- Offer time-sensitive discounts or incentives to drive repeat purchases.
4. Bronze Customers (First-Time Buyers)
Description: Customers who have purchased once but haven’t returned yet.
Characteristics:
- Low purchase frequency and value.
- May still be evaluating your brand.
Strategy:
- Create a strong post-purchase experience (e.g., follow-up emails, thank-you offers).
- Build trust through social proof, testimonials, and satisfaction guarantees.
- Ensure first time customers have a great experience, from start to finish
5. Leads (Potential Customers)
Description: Prospects who have shown interest but haven’t purchased yet.
Characteristics:
- Signed up for newsletters, downloaded resources, or interacted with ads.
- Early in the customer journey and may need more nurturing.
Strategy:
- Use lead magnets, email nurturing sequences, and personalized offers to convert.
- Address their objections and educate them about your value proposition.
If 5 levels are too much for your business, then use less.
Segmentation in marketing and sales campaigns have proved to be very valuable. Reasons include:
- Customers feel appreciated
- Messaging is relevant and personal
- Offers relate to where the customer is their journey
Action steps, get a list of your customers and how much they have spent. From there, do some segmentation work. In your CRM or other program, tag your customers accordingly.
From there, develop focused campaigns for each segment. Launch these and check on results, refine this strategy as you go.