… what about your existing customers?
Customers that already know your product, know your brand … know you.
Customers that trust you.
Remember: Trust sells.
We tend to believe that the only way of growing a business is to acquire new customers.
It costs six to seven times more to acquire a new customer than retain an existing customer — Bain & Company
The probability of selling to a new, potential customer is 5%-20%. The probability of selling to an existing customer is 60%-70% — Marketing Metrics
1. Focus on acquiring new customers to grow your existing customer base.
2. Focus on turning your existing customers into repeat customers to grow your business!
- Stay in touch with your customers (newsletter, social media,…)
The future of communicating with customers rests in engaging with them through every possible channel: phone, e-mail, chat, Web, and social networks. Customers are discussing a company’s products and brand in real time. Companies need to join the conversation. — Marc Benioff
- Learn more about your customers (analytics, feedback,…)
- Offer exceptional customer service (solution-driven, on time,…)
- Establish a loyalty program (reward your customers, …)
3. Focus on total customer growth = Winning new customers +keeping existing customers + turning existing into repeat customers
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Published by: Lucas Hoffmann in Growth