It is important to retain your customers since a large percent of a businesses profits come from repeat customers. You probably want to find better ways of retaining people, the only problem is, you don’t want to become to reliant on those people that are repeat customers, because they could leave at any time. You will want to focus on quality so that new customers can see your worth, and engage with established customers as well to find out what it takes to hang on to them.
Key Takeaways:
- For an established business, experts recommend concentrating approximately 60% of marketing resources on retention.
- Many strategies, such as providing quality products and using online marketing, work for both new and existing customers.
- An effective acquisition strategy will build brand authority and connect with influencers.
“In difficult economic times, this can even be more of a factor as prospects are a bit more guarded on the funds they wish to spend. Because of this, you may need to adjust your marketing efforts to lean on your existing customers.”
Read more: https://martech.zone/how-to-balance-acquisition-vs-retention-efforts/
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