Marketing 101: Retention Revenue = Prospect Revenue

Thanking your customers for their business is important for growth! 

Thanking your customers for their business is important for growth! 

We often hear our clients discuss marketing in regards to growth, and that "growth" is usually referring to new customers and/or clients.  However, new business, while fantastic, is NOT necessarily the primary or most effective focus when marketing your company or brand. 

In order for marketing to be most effective, it is imperative that you pay attention to your existing customer base in addition to new growth.  Your current customers can be one of the best assets in adding new business if you treat them correctly and are continuing to market to them.  They are the ones using your service or product, so who better to help spread the word about your business?  However, an asset can quickly turn into a downfall if you aren't treating your customers the right way, or aren't advertising to them and making them feel valued. 

Think for a few moments about some of your favorite places to eat or shop, or about your favorite mechanic or tried-and-true lawn care guy.  Don't you love telling friends and neighbors about what great food/products/service you receive?  Without even knowing it, you are helping market those businesses better than any ad or social media post ever could.  Word of mouth from personal contacts is a prime way to spread your business.  However, it's YOUR job as a business owner to make sure you are giving your customers and clients great things to say. 

So how do you make sure you keep a proper balance between marketing to new customers, and making sure you keep your current clients happy?  Make sure you don't forget about your existing customer base!  Great ideas to keep them happy and make sure they feel important include...

  • Thank you notes to let them know you appreciate their business 
  • Offer a special deal or coupon to current customers 
  • Hold a customer appreciation day or similar event 
  • Remember your customers and clients during holidays!  A quick card or even an email to wish them a "Merry Christmas", "Happy New Year", or a "Fun 4th of July" can go a long way in making clients feel like you paid special attention to them. 

Of course, there are many more options when showing customer appreciation and marketing to your existing base, but these are a few general ideas to get you thinking! 

Does any of that seem overwhelming to you in the midst of running a business?  That's where Newton Peach Marketing comes in.  Our specialty is helping you determine the best plan of action for marketing your business to your current and to new customers, meaning you can enjoy optimal growth.  We take the hard part out of your hands, and leave you with the benefits.  We can handle anything from designing custom cards, ads, or coupons for you, to helping you plan and host events. 

Remember, the next time you are thinking about your marketing, that retention is just as important as prospects when it comes to your customers!