One of the ways of increasing your bottom line is by focusing on retaining your customers. It costs more acquiring a new customer than it does to gain repeat business from your current customers. Retention marketing is beneficial not only from an expense standpoint but also because:
- Past customers present future sales opportunities
- The customers are valuable for promoting your brand
- They already know your worth
- Present you with cross-selling and upselling opportunities
Make Retention Marketing a Priority
Happy customers that are loyal to your brand are worth tending to. These are people who will sell on your behalf without being added to the payroll. Many businesses fail to give existing customers the attention they deserve, resulting in the customers going elsewhere. Here are a few ideas on how you can retain your customers and include retention marketing into your digital marketing strategy.
- Follow through on your promises. Ensure that you provide the service and aftercare that you promised in order to get the sale. Gather information on customer expectations and satisfaction and use it to improve your messaging strategy. Ensure your marketing is making the correct promises.
- Know who your most satisfied customers are by collecting feedback. Use customer surveys and reach out on social media to learn this information. Think about how you can use this in your marketing. Would your happy customer be happy to leave a review or write a testimonial? Will they share their experiences in a video or at a public appearance?
- Understand why your customers are not happy. You may come across multiple unhappy responses. They are a powerful source too as you can use their experience to find problem areas and refine your marketing accordingly.
- Target your existing customers with email marketing campaigns and remarketing advertisements. Use customer data and learn their likes and needs to help you provide information on further purchases.
- Pay attention to how your competitors are performing and working on keeping their customers happy and loyal.
Gather Data and Use it To Your Advantage
Businesses that have happy and loyal customers often have a healthier bottom line and a great reputation. Work with all the departments in your organisation and learn about what’s working and what’s not. Use that information to fine tune your digital marketing strategy and differentiate your company from your competition.