If your business is established, then you likely have a lot of repeat business from existing customers. If you are a newer business, then you might be focused more on getting new business. This is an important thing to consider when it comes to creating a marketing plan. You might want to focus on creating a marketing technique that will focus on customer retention.
Customer retention and customer loyalty is very important, but it is not something that is taught in most business programs in school. The key is to do your research and learn more about it. It could be one of the most important business aspects for you to consider.
When you search online, you will find many results for both customer retention and customer loyalty. This goes to show that it is something that should be considered very important. In many cases, taking care of existing customer base is even more important than looking for new clients.
If you get a lot of your business from your existing clients, then you won’t want to spend all of your marketing money targeting new clients. Instead, you will want to target your existing customer base.
Think about it, if you focus on marketing to your existing customers then you will ultimately find that it brings you about new business and even a few referrals. This can help to increase your customer base, while improving customer loyalty as well.
When you spend your marketing money on getting new customers, it is basically about trying to make new customers want to try your business out. They will need to trust you well enough to want to do business with you.