The effort with which most businesses try to get new clients is quite commendable. However,if a company is to move into a realm of profitability then it becomes important for such companies to put more effort in retention marketing. Below are some of the benefits associated with retention marketing.
It is easy to market to an already existing client than it is to market to a new client. Cost of marketing to an existing client is also slightly lower than what it would take you to market to a new client. There is also return on investment with retention marketing which is quite beneficial.
Taking care of your existing customers is important since they will also take care of you in return. Creating raving fans out of your clients will make them emotionally attached to your brands and they will help bring in new customers by using the word of mouth. Existing customers can be able to bring you new clients through referrals and that is why retention marketing is important.
By engaging your existing customers you are also in a position to get more candid feedback. To get repeat business,clients will most likely give you feedback on what you can do to make them return. It is easy to know how to attract new clients as well with the feedback that you get from your existing clients.
Building your brand is also important since customers are more likely to buy more products from your business. When customers buy more stuff from you,it helps to increase your sales. It also becomes easy for you to use them as testers for new products and be able to get valuable feedback which you can use when launching the product.
New customers may outrightly reject your products as well as your marketing efforts since they do not know you. On the other hand,loyal customers are more receptive to marketing efforts and are happy when you reach out to them. Marketing is easier and fun for existing clients more than it is for new clients.
Practicing relational marketing is ideal since it is a sustainable form of marketing Gone are the days when marketing was all about making the sale and parting ways with your customers. Building relationship with your customer is therefore very beneficial and not only for your sales but for your employees health as well since customers are not going to make snide remarks or be emotional at the first sign of distress which can cause your employees to be a bit unstable.