There's a difference between Customer Acquisition and Customer Retention.
If you think you should spend the majority of your marketing dollars on the top 20 percent of your best customers, you may want to reconsider. Why? Because your top customers already like doing business with you and are happy with your products and services. This doesn't mean you should ignore your top customers by any means, but instead of offering steep discounts to customers who may be temporarily maxed out on your products or services, you should focus on ways to retain them as happy customers.
Since top customers can represent up to 80 percent of your revenue, many companies benefit from refocusing a portion of marketing promotions on customer retention.
Here are a few ideas on how to retain happy customers by staying in contact at least six times a year:
- send them a hand-written thank-you note
- provide free industry reports and white papers
- subscribe customers to your company newsletter
- offer free surveys about your customers' markets
- give gift cards to show your appreciation
- offer interesting news items or stories related to their business
Marketing dollars are most effective when concentrated on your middle-ground customers who have the potential to become top customers. Marketing efforts should focus on building trust, credibility, and a desire for your products and services. You can do this through a loyalty or frequent purchase program, discount incentives, up-selling and cross-selling of products and services, free extended warranties with purchase, buy a product and receive a free accessory item, etc.
If you're looking for ideas on marketing materials for customer acquisition that increase sales and tout the quality of your products and services, look no further! Our creative team has endless ideas and printed samples that are sure to spark your interest. Together we will create promotional pieces that are sure to wow your customers and prospects alike.
Advantage Printing is a commercial print & marketing services provider serving small and mid-sized businesses, nonprofits and churches.
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