[Marketing departments tend to focus most of their efforts on the acquisition of new customers. But frequent studies have demonstrated that it is 85% more likely that an existing customer is going to conduct repeat business with you. And those same studies have proven that it is 80% less costly to attract those existing customers to buy more from you. Therefore, why not actively mine that gold mine through a proactive inward marketing program? If you can create a few advocates or, better yet, an even fewer number of evangelists, you can substantially reduce your cost of customer acquisition.
Motivating customers to advocacy or even evangelist status is much easier than you may suspect, but the key is providing ongoing and relevant dialogue that is beyond their individual level of expectation. The list of interactive strategies in which this can be done is almost endless if you simply let your marketing imagination loose. It’s what we do with our clients through powerful collaborative “Think Tank” sessions.
Position for transition””To acquire more new business you have to change the approach if you want to change the results.