As marketers and sales professionals there is no doubt that we are focused on obtaining new customers and increasing awareness within targeted market segments. However, we must also consider the lifetime value of our existing customers and how marketing communications can contribute to that relationship. Taking the time to examine what kind of communications can keep your brand top of mind with customers and inspire continued awareness for repeat sales and referrals is of enormous value.
Do you know how much your current customers are worth to your company? In recent years research has found that a 5% increase in customer retention can increase profits by 25% to 95%. Armed with the knowledge that satisfied customers has a direct impact on your bottom line, there is no time like the present to begin targeting your current customers. Here are 5 tips on better customer communications you can start using right now: