Its often easy to focus all your marketing attention on acquiring new customers. But don’t make the mistake of forgetting about those who got you to where your are today. Check out this article.
New Customers are Great, But Don’t Forget Your Old Ones
By Walter Dailey
Published September 21, 2011 FOXBusiness
I recall speaking with a client about the launch of their ad campaign. Their business had been doing well and the company decided to ramp things up a bit and become more aggressive. As I reviewed their strategy for their campaign, I began to inquire about their target audience. They indicated that they . . . → Read More: Don’t Forget About Your Regulars
Suppose you happen to remember and old customer you once had. The last time you saw him or her wasn’t that long ago, maybe a year or two.
What are they up to? Why haven’t they been around lately? I wonder if I should do anything about that? No more wondering – I haven’t got time.
Are you, or have you been in this position? And if you check you customer database, how many of them have you not seen in the last year? I bet if you total up every customer you haven’t seen in the last year, you’d have a nice . . . → Read More: Reactivating Lost Customers
Most businesses understand that it is a lot less expensive to keep a customer than attracting a new customer.
However, some of these same businesses don’t know, or even understand the concept of long-term customer value. They will spend incredible amounts of money on advertising and marketing to potential customers, while neglecting their existing customers base.
We’re working in a different economic climate now, where attracting new customers is increasingly difficult. That means that replacing an existing customer will be very expensive in both money and effort.
Research has found that 60% to 80% of a business’s lost customers were either ‘satisfied’ or ‘very . . . → Read More: Satisfied or Loyal Customers
