I’ve worked with small and big companies alike; publicly listed banks, nationwide companies in the United States, traditional distribution companies, and many, many small startups.
One of the things I’ve noticed is these companies don’t value their existing custsomers, expecting them to leave any time soon. Maybe because competition is rife, it’s something to be expected, and maybe it’s just not in their agenda.
It frustrates me that noone focuses on retention of customers. And even if they do, the percentage is minimal and pushed to the backburner of every meeting I’ve attended and presented in.
I work mainly in content development, SEO, SEM, SMM, PPC, and loyalty programs. As you can imagine, the latter, the last one I mentioned, is always sitting in the backseat waiting to be mentioned and paid attention to.
It’s wrong.
Whe 90% of the time, companies are focusing on finding new customers…and paying for it…it’s costing them five times more than if they focused on retaining customers who are already happy with them.
In marketing, traditionally, we focus on two main things. Caveat: they’re not exclusive because there are so many things that people do in marketing but when I attend meetings, these are two things people often focus on and quiz me about:
- Finding new customers and increasing sales
- Measuring how many people are coming back to make the second or third…or fourth purchase
Finding new customers is not all that hard if you have the money for it and know the channels you need to be in. Money solves almost everything in this materialistic business world. But it’s going to cost you.
The second part, which is to retain customers, is harder but more rational. Not only will it help you grow your business by word of mouth (something people don’t talk about anymore), it helps your business become sustainable for a long period.
Like I said, for the most part, my expertise lies in SEO, SMM, and SEM which means I consistently try to hook up with new people on the internet via search engine content, and ad placements and try to find people in various demographic that might have advanced or traversed into my stratosphere.
With the internet being so convoluted today, it is even more important now, more than ever, to focus on not just finding but connecting with our customers and retaining them.
It’s not through those Buy-1-Free-1 programs; spend $2500 to get a $2.50 voucher; nor is it asking people to download your all-new app just to give them a free cupcake.
If someone is recommending that to you, and if it is a marketing or advertising agency, they’re being lazy. It’s the easy way out that has very little effect.
So, if you’re a small business owner or someone striking out in this massively incomprehensible world, take heart and take time to think about how you want to resonate with your customers.
Think like them, be like them, buy like them, spend like them, and become them.
Thanks for reading this far!
XOXO,
Marsha
Copywriting & Content Marketing Specialist 
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