The Importance Of Customer Retention
In today’s competitive environment customer retention is becoming more and more of a challenge. Companies can no longer afford to become complacent in their marketing efforts directed at existing customers, particularly with the cost of new customer acquisition increasing. An essential way to hold your ground against the competition is by keeping existing customers happy and continuing to
increase sales to this group.
Marketing activities directed at your existing customers are essential to keeping in the forefront of their minds. This also allows you to keep them apprised of new product offering and special events. When the marketing to existing customers is neglected, typically you will see an “out of sight, out of
mind” result. If your customers are then targeted by your competition attempting to acquire their own new customers they feel no sense of loyalty to you or your company.
One way to effectively market to your companies that is through e-mail marketing. E-mail marketing is a cost effective way to get your message across to a large group of people. E-mail newsletters allow customers to perceive value in the information that you are providing on a regular basis and to look forward to the next edition.
Keep in mind that these e-mail newsletters need to contain relevant information that pertains to your customer base. If they do not see value in the information that you are sending them in your company’s newsletters then this marketing technique is actually a wasted effort and you will see your newsletter readership steadily decline over time.