4. January 2017 - No Comments!

Right Now, Everyone Talks About ‘Acquiring New Customers’ But…

… 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.

But…

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

P.S.: Subscribe to the Digital Marketing Weekly here. It’s free!

Published by: Lucas Hoffmann in Growth

Leave a Reply