When planning your marketing strategies, it’s natural for many businesses to solely focus on attracting new customers; however, a lot of business owners don’t understand what value current customers bring to their company. The success rate of selling to a current customer is 60-70%, while the success rate for selling to a new customer is 5-20%.
Returning customers are the money makers for your business. A loyal customer is not only paying for your products or services but telling others about yours. Acquiring a new customer could cost five times more than keeping an existing customer. Don’t just spend your money on getting new leads; spend it on your current customers, too. Companies should protect the investment they’ve made after earning a customer’s business the first time.
If you want your business to make money, don’t let your customers forget about you
Unfortunately, it’s easy for a customer to forget about your business. For example, if a customer called a carpet cleaning company and years later needed the same service, they may not remember you and will not contact your business again unless they often hear from you. Someone may have hired you once, but that doesn’t mean they will always think of you when they need service. Businesses are competing for your customers, and consumers have many distractions that may lead them away from you. Understanding that your customers won’t remember you are a good motivation to put effort into your communications.
Here are some easy ways you can stay in touch with your current customers:
Send out reminders
We’ve helped businesses increase their companies’ current revenue by 2,000% just by reaching out 1x/month. Remaining top-of-mind with your customers, even if you think they aren’t ready to use your services, will entice them to use you more. They’re more likely to think of you when the needs arise and are likely to use you for something they didn’t know they needed. Many companies experience slow months throughout the year, and when the phones aren’t ringing, it’s time to come up with outbound marketing ideas. By sending your customers through direct mail, emails, phone calls, or text messages, you can make your shoulder seasons profitable. Our team works closely with businesses to forecast and plan when an extra outbound marketing idea makes sense. By working closely with clients, we can adjust on the fly and utilize your current customers to fill your revenue needs almost instantaneously. We drove over 130 calls in one day by sending one current customer email. Imagine what you could do with a planned, current customer marketing campaign. By keeping your customers involved and informed, you encourage their engagement. This in turn makes them remember and feel invested in your business. Remember, the customer is the core of every business transaction.
How to gain business during a pandemic
Covid-19 is a great opportunity to communicate with your customers. Just ask them how you can help. A simple “stay safe!” or “how are you doing?” is not only expressing care for your customers, but it’s reminding them you’re around if they need your services. Your business will stay relevant in their minds. Your customers need to know that you are open and ready for business. It’s so important and easy!
A simple thank you
After a transaction, thanking customers for their business on their anniversary, birthday, or during the holidays is so simple and meaningful. Caring and appreciating your customers goes miles and unlocks much-needed revenue. 60% of businesses have lost customers because they feel companies are not interested in them. Think of it like this, if you are eating at a restaurant, your waiter should check on you a few times, right? You’ve already paid to bring in that customer, why not take care of them while they’re sitting at the table? Showing your appreciation and gratitude can bring much value to your business. When your customers are happy, they’re bound to come back and share their experiences. Why only focus on bringing in new customers?
A few things to keep in mind when acknowledging your customers:
Providing personalization
Providing personalization is a great way to turn your customers into individuals who belong to your brand community. You could address your customers by name in your marketing content, or thank them for another year of business. Approaching your customers as individuals is a great opportunity to say thank you on a deeper and more meaningful level.
Provide content to expand their interest in your product or service
Producing helpful content to your customers is a great way to improve your customer experience. You can provide customers with helpful newsletters to increase their knowledge of your product or industry. One example would be a blog on carpet cleaning hacks that can save your carpet from getting dirty. It demonstrates your commitment to helping customers get the most out of your products or services at no additional cost.
At ileads media, we want businesses to know how important it is for owners to nurture your connection with existing customers. It’s equally as important as gaining new leads. Nowadays, leads are hard to find during these unprecedented times. Many businesses may need their current customers now more than ever. Think about all of these factors when you want to direct most of your attention to new clients and customers. If you are revenue driven, don’t forget about the money you already have in your customer base by letting your current customers feel neglected.
If you are unsure how to develop marketing strategies when your business is slow, ileads media can help. We know the value your current customers bring to your business. If you need help reaching current customers, give us a call. We can help your business take advantage of them by creating emails, paid search, and social campaigns to publish in just two hours. We also can work with your team and help you forecast your outbound marketing needs. It’s our goal to help reduce your slow days. With a little planning and dedication to your current customers, you can grow your business and brand. We promise it will pay off!