Getting a new customer might feel more glamorous than retaining one, but your chance of making a new sale with an existing customer is 60-70%. That same statistic for a new prospect is just 5-20%. And yet, the never-ceasing search for the secret that will see your marketing connect to an ever increasing group of new customers is the ultimate goal for some. This article was originally published at http://blog.vistage.co.uk/3-metrics-to-prove-why-you-should-market-more-to-existing-customers.
It doesn’t matter? Really? Surely it DOES matter which CRM you decide to use? To some extent, you’re right - but many businesses go into the decision-making process the wrong way round. Generally, a business owner will realise (or have been told) that they need a CRM, purchase a system and then attempt to work out how it can meet their needs. Without this pre-planning, the tool is used badly, and when usage slows, it’s the system itself that is blamed for the waste of resources.
In 2010, The Marketing Centre founders Lucy Hogarth and Clare Methven set out to reinvent the way small and medium-sized businesses access senior-level marketing skills. Seven years on, our team of part-time expert Marketing Directors continues to grow – proving the need for marketing expertise via a cost-effective model focused on long-term results. So what’s the story behind the business, and where are we going?
It’s fair to say that salespeople and marketing departments don’t always see eye to eye. Sales blame marketing for delivering low volume or low-quality leads. In turn, marketing criticise sales for not converting enough of their well thought out strategy into a return on investment.
This well designed and presented book should come with a health warning for serious academics as it’ll raise the collective blood pressure on thousands of campuses around the world. Were this an undergraduate essay (and provided the PC Police haven’t got to you already) you’d be scrawling all over it comments like “where’s your proof”, “devoid of analysis” and “why is there no bibliography? Did you really not read a single text before embarking on this assignment?”