You are sitting on a gold-mine – Here’s a shovel.

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What are you waiting for? A Shovel?

Before you go looking for more gold make sure you’ve completely mined the gold you’re standing on. I’m talking about your existing client base. Of course you’re accepting new clients, as you should. But before you go spending your hard earned marketing budget on attracting NEW customers you should consider reaching out to the ones you’ve already done business with.

On average, it costs five times as much to attract a new customer than to keep an existing one. The worst part about spending so much more to get a new customer’s attention is that even when you attract them they only have a 1 in 5 chance of actually turning into a sale (as opposed to a 2 in 3 chance of an existing client!)

Top Ways To Retain Customers

(in order of effectiveness)

• Email Marketing
• Social Media Marketing
• Content Marketing
• Referral Marketing
• SEO
• Display Advertising
• Mobile Advertising
• Digital Video Advertising
 

The ironic part of it all is the most effective method to retain a customer, email marketing, is also the least expensive!

 At the very least you owe it to your existing customer base to shoot them an email. If you need some inspiration on what the content of the email should be here’s some:

A Few Ideas For email

Announce a New Product or Service

When introducing a new service or product to market, your existing customer base should always be the first contact. They are much more likely to be first respondents, and even more likely to tell their friends and family.

Ask For Feedback

In the modern day of the internet, reviews are king. Over 80% of prospects trust online reviews as much as a personal recommendation. This makes it even more important to ask for feedback from your existing clients. Don’t worry, even if they have negative feedback, it’s a learning opportunity. Thank them for their honesty and do whatever you can to make it right by them. This goes a long way!

Ask For Referrals

You know you’re awesome at what you do. The person who bought from you knows you’re awesome at what you do… The only people that don’t know how awesome you are are the people you never asked your customer to introduce you to.

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