Business Owners already know that Keeping Loyal Customers is less expensive then trying to get new customers. So let's keep the ones we have, and keep 'um happy!
🤓 A Harvard Business Review study 🤓 reviewed the Value of Keeping the Right Customers reviewed new customer acquisition costs and showed (to no surprise) that is costs more to attract new customers than it costs to ⬆️ INCREASE LOYALTY ⬆️ with current customers. At Joanne Klee Marketing in Chicago we understand the bottom line: "keeping the right customers is valuable. One of the key metrics in understanding whether your company is retaining customers is customer churn rate."
The creators of net promoter score, Bain and Company, showed "an increase of a mere 5% customer retention can increase profits 💸 by 25% to 95%."
In addition, one of the most successful ways to communicate with customers (and potential) customers is STILL email! Yes, email exceeds social media channels in results, still. See more here from Kissmetrics.
🐱 🐷 🐜 // CREATURES OF HABIT // 🐱 🐷 🐜
When marketing for your business, an agency knows the human side of the business. Consumer behavior and habits. The plus side is we humans are Creatures of Habit. Customers actually are naturally programmed to repeat purchases. We will keep buying a product that is ....