Our East Midlands Regional Director, Rob Croxall, discusses why businesses should be revisiting they marketing channels and shares some insights into how best to make a switch.
If you consider your business strategy and marketing plan to be two separate documents be prepared to head back to the drawing board.
“Whatever you do, do it well. Do it so well that when people see you do it, they will want to come back and see you do it again, and they will want to bring others and show them how well you do what you do.” – Walt Disney While he may have had animation pictures in mind, when Walt Disney voiced these words, he could just as easily have been describing the essence of ‘customer retention’. Keeping your customers so happy they come back time after time. And it is the key to achieving business growth.
What gap in the market does your business fill? How well do you know your customers? Have you got a solid plan for growth backed up with valid metrics?
Here’s a well-travelled marketing statistic: acquiring a new customer can cost up to five times more than retaining an existing one. An oldie but a goodie, as they say. But how do you retain customers? How do you build loyalty? Marketers try all sorts of things. Regular emails, surveys, loyalty schemes, discounts, birthday messages, even out-of-the-blue gifts.