Do you know the true value of keeping an existing customer versus landing a new one?
The Harvard Business Review suggests that for most industries, acquiring a new customer can cost anywhere from five to 25 times more than customer retention.
While it’s important to attract new clients and customers, you can’t neglect your current ones. They have many different brands, including your competitors, to choose from—so why should they remain loyal to you?
People nowadays are looking for a more personalized experience from the companies that they patronize regularly. Businesses that can deliver that kind of experience will reap the benefits of increased customer loyalty and trust.
How can your business create a following of loyal customers?
We want to show you a few tips on how your business can drive brand loyalty and keep your customers returning for more.
If you can segment your marketing lists, then you probably have a good idea of who your best customers are. As part of a customer retention program, you can send them promotional products that show appreciation for their continued loyalty.
An effective personalized product isn’t necessarily an expensive one. Try to select something that they will use daily, such as a desk or wall calendar or notepad. By doing so, your name, brand, and contact info printed on the promo product will act as a daily reminder of your business.
Depending on the size of the personalized product, you can even have your email, website URL, and social media accounts printed on it for quick and easy access. This way, they won’t have to look very hard to find your contact information the next time they’re ready to make a purchase.
You can increase brand loyalty and trust by personalizing your communications. Such printed promotional items as a thank you card will help further ingratiate your brand in the minds of your customers. Or, you can send out a 10% off one-time coupon code to repeat buyers.
If you’re like most businesses, you probably have a vast customer list. Manually sending out a card or mailer to each person is challenging, if not downright impossible.
You can solve this problem by taking advantage of variable data printing, which will allow you to efficiently send out a unique, customized message to each customer. Email marketing is another cost-effective way of reaching a large group of segmented customers.
Social Media Marketing
Social media marketing is not only a great way to stay in touch with your customers but can also help improve brand loyalty. You can accomplish this by creating highly engaging content that people will love, participate in, and share.
The reality is that many companies are not very successful at creating engaging content. This is the main reason why their posts go ignored or have minimal comments.
Social media marketing involves much more than making a Facebook or Twitter post about an upcoming sale or posting your website URL. Instead, you should figure out the pain points of your audience and create content that speaks to them. If you find ways to add value to the conversation, it will help jump-start audience participation and create a genuine connection with people.
Create a Mobile App
It’s rare you come across someone in this day and age who doesn’t own a smartphone. A mobile app can help connect you to your customers by sending out “push notifications” to their phone, which will alert them via the app whenever you have a sale or promotion.
Loyalty and customer retention programs are very popular amongst consumers and businesses alike. You can then track and measure analytics and engagement to determine how well each promotion is working. Over time, you’ll dial it in and have a new recurring revenue stream via your mobile app.
Direct mail is one of the oldest marketing channels out there, and despite heavy competition from online advertising, it still works exceptionally well. Over the past few years, it has experienced a massive resurgence in popularity, due in part to the high costs of paid online advertising.
A properly designed and executed direct mail campaign can create an honest and authentic connection with your audience. A direct mail piece is something tangible—that they can touch and hold in their hand—and that has a much more significant psychological effect than a paid online advertisement.
Best of all, a direct mail campaign can help you tap into a marketing method that your competitors most likely aren’t using. When there’s no competition for the mailbox, you’ll have this entire amazing marketing channel all to yourself.
Marketing Help in New Bern
If you have any questions about how to increase customer retention or would like to speak to a New Bern marketing expert, contact us today. At AlphaGraphics of New Bern, we’re much more than a print shop.
We’re also marketing experts who you can count on to help you when it comes time to market your business. To learn more about how AlphaGraphics of New Bern can produce and design your next project, you may email us, request a quote or call us at (252) 633-3199.