Selling to your existing customers is much easier than attracting new ones. So keep them coming back.
Do you want more returning customers? The kind of customers who spend more and visit more often?
Then a loyalty program could be the perfect tool to add to your customer retention arsenal.
Why? You may ask. Let’s start with the most reasonable fact: because it makes you more money. That is, of course, if you do it the right way.
Here’s a quick stat that’s worth remembering: Keeping a current customer costs you 3-10 times less than acquiring a new one, depending on the industry you are in. According to WordStream, small businesses spend between $9,000 and $10,000 trying to attract new customers on Google paid search campaigns in just each month on average. Just image how much more efficient you could be if you could switch that re-activating existing customers and getting repeat…
How do you build long-term relationships with customers using digital media?
"Open conversations generate loyalty, sales and most of all, learning... for both sides".
Achieving engagement with a customer or fan base is not so much about tactics such as Facebook or tools like Radian6, but how these are best leveraged to enable meaningful interaction with the consumer. As Seth describes in the quote above, open and maintain conversation, ask questions, listen, build better products and market in a more relevant way - add value to the relationship with the consumer. To create these conversations and build relationships is challenging - the biggest challenge in marketing perhaps. There are no quick tips we can give here, but we can offer this structure which will step you through the decisions you need to make to work towards long-term relationships.
We also have a new guide by Andrew Campbell describing how to create a customer…