Be Different or be dead

August 17, 2015

Why retaining existing customers is better than getting new ones

Source: Pexels

Why retaining existing customers is better than getting new ones.

Coming in

Most marketing organizations spend too much time on figuring out how to acquire new customers, but devoting a disproportionate amount of resource to this task is short sighted.

New customer acquisition tactics are pretty basic and don’t require a great deal of marketing acumen. Prices are reduced to try and hook ‘newbies’ or give-aways like free iPads it TV’s are used as carrots in the enticement process.

I’m amused over these approaches because they assume that if you capture a new customer this way, they won’t leave you for the same reason. The reality is, that if you acquire a new customer by offering them 3 months of free service, they will be with you for a short period of time until they can get a better offer elsewhere.

Wake up marketers. If you enticed them to come, they will leave you in a heartbeat for the same. People that shop around and move for a better offer show no loyalty to any organization.

Coming back

Rather than trying to get newbies to ‘come in’, organizations should be dedicating most of their resources to get their existing loyal customers to ‘come back’.

The tactic should be to do anything to keep them coming back. The mindset that works is the unwavering belief that you have to earn today’s customer’s business everyday.

It’s easier to launch a new customer acquisition program than invest the time and energy of every moment of everyday to continue to earn the business of those who trusted you to and made the leap to you in the past.

But keeping the coming back is far more productive in the long term than trying to get new ones to come in.

Cheers,
Roy
Check out my BE DiFFERENT or be dead Book Series

• Posted 8.17.15 at 05:41 am by Roy Osing
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