Most of us have heard the statistic that marketing to existing customers is 6-10 times more effective than marketing to new customers. We have also heard that it is less expensive and less time consuming to keep a customer than it is to find a new customer. Than why do so many companies spend so little marketing dollars on existing customers?
It is your job to make sure that your customers remember you, understand your value, and ultimately refer you. It is your job to stay top of mind with your current customers!
Find meaningful ways to stay in touch with your customers. Use email newsletters, reward them for loyalty, have customer appreciation events, give them magic moments, let them know that you miss them and send them special offers that give them a reason to come back.
Sometimes we get so focused on the hunting of new prospects, opening new markets and lead generation that we need to be reminded of those customers who have been with us over the long haul. The customers that help us pay the rent and keep the lights on.
Smart established businesses have an aggressive plan to make sure that they stay in front of their existing customers, and don’t take their loyalty for granted.
YOUR CHALLENGE: Review how you are caring for and nurturing the relationship you have with your existing customers – and find a meaningful way to reconnect.