You can find new customers but keep the old ones – one is silver, and the other is gold.

When browsing the latest marketing trends, it can feel like you are at a carnival. There are many half-baked ideas and digital obsessions stuffed with content marketing lingo.

You may need help getting the answers you are looking for.

Are you feeling like this? It might be time to go back to basics. For a moment, forget all the shiny objects. Get rid of the latest tricks, for today at least.

It is time to search for the truths of marketing. . .

Do you spend enough energy on your existing customers, your real gold?

Or are you focusing your content-marketing strategies instead on new leads?

Pay attention to your Gold customers.

It’s time to make customer retention and churn rates a priority again. Churning occurs when customers stop buying from you. Low churn rates mean that you can keep most customers with your company.

It is your job to reduce the churn rate as much as possible. Customers are not affected by this.

Close their accounts

Opting to buy from a competitor

Canceling their subscriptions

Refusing to renew their service agreements

It is well-known that finding new customers is much more costly than marketing to existing ones. It can be as much as 25 to 50 times more expensive to win over a new customer than it is to retain an existing one. This is why customer loyalty and reducing churn are critical priorities for top marketers.

Old customers will create the best new business.

It is more costly to pursue new leads, but loyal customers will be the ones that are likely to drive future revenue growth. Today’s CEOs are placing more pressure on CMOs to add revenue growth to their already long to-do list. You need to prove your marketing value through revenue growth.

It’s not a problem. Your customer base can help.

Your loyal customers are your Praetorian Guard. They will be there for you. They will ensure you win every day. Gartner Group research shows that a significant portion of a company’s future revenue growth (about 80%) will come from a small and reliable 20% of its existing customers.

Please make sure they are happy.

Loyal Customers Deserved the Gold Treatment

How can you keep your customers happy? It’s simple: treat your customers like the gold they are.

1. Make your customers feel unique with a loyalty program. A simple rewards program that adds value to your customers will work.

Think of Sephora’s Beauty Insider program or Virgin Atlantic’s Flying Club tier-based program. These programs offer more than just deals. Limited-edition sets, free samples, and other swag are available to beauty lovers.

2. Listen. It takes work to retain customers. Marketers need to let customers know how special they indeed are. This may require some practice. Listening. Listen to the feedback posted on social media, reviews, and customer emails. What is the feedback people are saying about your products and services? What subtle messages are hidden behind politeness and frustration?

You can learn more about your customers by paying attention to their sound and evil. This will help you create buyer personas that can be used to guide you in the next step of lowering your churn rate.

3. Communicate as if you know the person you’re talking to. You must speak to your customers to make them feel valued and connected to their favorite brands.

The best marketers need to reach customer X. They email Marcia LovesYourServices. She is a woman in her 40s with limited free time. She does, however, enjoy pampering herself with your product/service every few months.

Or Fred Can’tGetEnoughofYourProduct, who is an avid industry enthusiast and appreciates being kept up-to-date with the latest industry news.

4. Follow up with your churners. Following up with lost customers is more valuable than finding new customers to replace them.

You can politely ask why someone closes an account, cancels, switches to another competitor, or closes it. This feedback can be used. This feedback can prevent your churn rate from growing and show you how to ensure others don’t do the same.

A competitor has sprung up, offering a better deal. Is your product causing problems for some customers?

These are valuable pieces of information marketers should be aware of. Some customers who have lost their business may not be inclined to reply. However, some customers will be more than happy to share their thoughts.

You Can Re-Buy Old Customers

Referring to customers can also help you keep them loyal and interested.

Your best marketing tools are repeat customers who get value from the products and services a business offers. They are more than just their purchases.

Word-of-mouth is believed to be responsible for between 20% & 50% of purchasing decisions.

Marketers looking to achieve record-breaking ROI must balance the old and the new with digital Marketing creativity. It’s worth your time to ensure that your customers are satisfied, find out their expectations, and let them know you value them.

Retention is the foundation of any marketing campaign. It attracts revenue like a magnet.

This will ensure your loyal customers get a fair share of your marketing efforts. It should be an ongoing process. Next, you can explore the latest trends and techniques in digital marketing.

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