GET and KEEP MORE CUSTOMERS to INCREASE PROFITS, You Can Do It Too
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.
Article Read Time | 4 minutes
🐱 🐷 🐜 // 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:
- easy to access
- within our perceived price range
And my FAVORITE FACT is that customers will . ..
3. repeat their purchases by matching the value proposition to their needs.
Have you made at least 1 successful sale? Then Yes, your existing product, without any fancy additions to it, is desirable.
MARKETING PLAN // THE VALUE PROPOSITION
To expand you target customer base we can work through the value proposition of our product to attract more customers. The ins and outs of developing the value proposition comes in the Marketing Development process. Yes, we can bring you greater results.
Investopedia Defines a Value Proposition as:
"A value proposition is a business or marketing statement that a company uses to summarize why a consumer should buy a product or use a service. This statement convinces a potential consumer that one particular product or service will add more value or better solve a problem than other similar offerings."
One of the ways to easily STAY IN FRONT of clients is with education. Education on your business, products and ways to engage clients. @Facebook makes it EXTRA EASY with a newsletter sign up feature that you can build into your Facebook Business Page. When fans arrive at your page, they can click the link and become a part of your Loyalty Building Newsletter.
Loyalty Building Newsletters are so wide spread as a Marketing Tactic because they work. Customer who like your brand, your products and your business will want to get regular news from you. We love the mailchimp version, but you can integrate almost any provider.
BUYING JUST FEELS RIGHT //
Sometimes the purchase decision making process IS NOT Complicated. Most of the time it just has to feel right.
"But the idea that purchase decisions arise from conscious choice flies in the face of much research in behavioral psychology. The brain, it turns out, is not so much an analytical machine as a gap-filling machine: It takes noisy, incomplete information from the world and quickly fills in the missing pieces on the basis of past experience.
Intuition—thoughts, opinions, and preferences that come to mind quickly and without reflection but are strong enough to act on—is the product of this process. It’s not just what gets filled in that determines our intuitive judgments, however.
They [customers] are heavily influenced by the speed and ease of the filling-in process itself, a phenomenon psychologists call processing fluency. When we describe making a decision because it “just feels right,” the processing leading to the decision has been fluent."
BUY TIDE //
Fox example, a #1 Laundry Detergent developed it's brand by simply calling itself the best.
"Given a choice, it would like to do the same things over and over again. If the mind develops a view over time that Tide gets clothes cleaner, and Tide is available and accessible on the store shelf or the web page, the easy, familiar thing to do is to buy Tide yet another time."
A Chicago Business Marketing Firm | SINCE 2005
STAY CONNECTED //
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