Businesses often focus their marketing efforts on obtaining new prospects and leads, but it’s important not to overlook the current customer base. Your current customers are one of the most important assets your business has. Because they are already familiar with your brand, product, and services, you’ve already tackled the first hurdle in marketing of making people aware of your offerings. In fact, studies have shown that the probability of selling to an existing customer is 40% more likely than converting someone who has never purchased from you before.
Now it’s just a matter of engaging those existing customers to form lasting relationships and loyal customers.
When it comes to customer retention, one size doesn’t fit all. While your customers may have a similar need, they’re unique individuals with different experiences. What seems to be a straightforward process for one customer may have been a hassle for another. Consider your customers’ experiences and pain points. By addressing their needs specifically, you’ll create loyal customers who feel understood – ultimately increasing the likelihood that they continue to buy from you.
Be sure to stay in touch. Consumers are bombarded with marketing messages and even the happiest of customers will stray if they don’t hear from you. Email marketing is a great way to stay top-of-mind with your customer base and gives you an opportunity to build a lasting relationship. Remember to be thoughtful in your messaging and add value with each communication.
Reward your customers. Whether it’s through a loyalty program or simply offering something of value, make it worth your customers time to return to you. There’s no lack of options for today’s consumers. They’re looking for more than just a product or service. They expect a great experience. By prioritizing this, you’ll stand out in an oversaturated marketplace and build lasting connections with your customers.
Prioritizing your customers is a marketing strategy that will only work in your favor. Think beyond the initial sale and work to build a lasting relationship with your customers.