The Benefits of Marketing to Your Existing Customers
The Benefits of Marketing to Your Existing Customers
Getting a new customer costs about six times more money than selling to an existing one. Showing your love to your current customers positively impacts overall business goals in different ways, including increasing reviews by providing opportunities for sales of products or services. Hence, existing customers help to strengthen your company’s success. Your current customers are a resource you can’t afford to overlook with that in mind.
Let’s explore five common benefits of honing in on making to your existing customers:
1 - It Increases Retention
Customer retention includes a lot of elements. However, customer marketing can increase retention by mentioning your company, its product, and its value. Being at the leading edge of your customer’s minds strengthens your relationship with them.
In addition, when you emphasize your value by including educational components in your marketing messages, you will improve your retention.
2 - It Increases Revenue
Existing customers are more inclined to purchase with you and less likely to look for competing brands. The total value per purchase also tends to be higher. You can also use your customers’ previous purchase data to identify their unique needs.
3 - It Increases Acquisition
Satisfied customers can provide a sequence of referral businesses. When you visit recommended resources a prospect already trusts, it will accelerate the sales cycle. In addition, making efforts to expand your existing customers provides them with data to recruit others.
4 - It Improves Your Customer Loyalty
One of the main benefits of marketing to your current customers is improving customer loyalty. Loyal ones will stay with you as they are satisfied with what you have provided them. In the end, the established customer base is good for your sales and profits.
5 - It Upsells without the Full Sales Pitch
Satisfied, loyal, happy customers provide you with a powerful sales window. You have achieved a new opportunity to upsell to those already interested in what you offer without seeming too aggressive. They are more likely to pay for extra services or products as they trust you.
Promote Your Existing Customers While Increasing Your Revenue With Tommy House Studios!
Customer marketing is often ignored, but it can impact a huge bottom line. It only takes a little effort; getting in touch with Tommy House Studios is the right way to achieve truly meaningful results.
Our dedicated marketing strategy team will work with you to create a successful customer retention strategy that strikes the right balance between “before” and “after.” While we help you retain existing customers, we will also work with you on getting new ones.
Contact our digital marketing experts or request a quote online to learn more about our existing customer marketing services.
