Improve Retention, with Relationships, Referrals and Reminders
Custom acquisition is crucial, but customer retention is even more important.
Business owners know that it’s up to seven times more expensive to attract new customers than to retain existing ones. Consider changing your focus exclusively from acquisition to include a plan to grow retention.
An effective way to increase customer retention is through email marketing, a proven tool that outperforms other digital efforts. Email marketing focuses on building relationships, encourages referrals and is a potent reminder of your business. These components are what drives email marketing’s high ROI and therefore success with customer retention.
Relationships – The more likeable you are, the more likely you are to get business. It’s human nature to want to do business with people you enjoy and appreciate.
A well-executed email campaign allows customers and prospects to see you on a personal level and have a sense of who you are and appreciate your “authentic self.” By authentic self, I mean the advantage you have as a small business to stand apart from the competition and show the market who you really are, your expertise and your “humanness.”
Referrals – Word of mouth marketing is an immensely valuable marketing tool.
Email marketing keeps you top-of-mind while building a relationship with customers. Well-crafted emails establish you as an expert in your field so that when prospects have a need for your service or product, they think of you.
By implementing an email marketing campaign, you invest in your network of customers, prospects and referrers. These are the people who will grow your business; why not use the effective power of email to achieve success?