Keep them coming back for more

Nurturing vested interests

The cost to acquire a new customer can run up to five times as much as the investment to retain an existing customer. Add to that the 60-70% probability you have of selling to an existing customer – way above 5-20% probability for a new prospect – and the value of a loyal customer is unbeatable.

However, only 18% of companies invest in their customer retention, versus 44% of companies choosing to focus on finding new customers instead.

Whether your business growth is focused on customer acquisition, retention or both, the most effective marketing strategies you should be using will differ depending on your goals.

Among the better options for customer retention are email campaigns, content marketing and social media or conversational marketing. All require careful planning to encourage a customer to take positive action when it comes to your business.

When it comes to acquiring new customers, digital marketing channels such as paid search and re-marketing through Adwords, consistent search engine optimisation (SEO) on your website and social media advertising could be your better options. Offline marketing such as direct mail also shows a 66% uptake for the purposes of customer acquisition.

Strategic digital marketing

Central to both business goals is the importance of a mobile responsive website with a superior customer experience. The number of internet searches conducted on mobile devices such as smartphones and tablets overtook desktop computer searches in 2014 and is always rising. Additionally, 57% of users claim they wouldn't recommend a business with a poorly designed mobile site.

Overall, your digital marketing and online strategy needs to work with you – by working for all your customers, new and loyal. Even a 5% increase in customer retention can increase profits by 25% to a staggering 95%.

What have you got to lose? We can help plan your digital marketing activities to focus on customer retention and acquisition through a variety of channels, let's catch up with a cuppa to chat about your options today.