Retaining Customers vs. Attracting New Customers
Posted: Wed Dec 04, 2024 5:17 am
Only through correct and effective Customer Retention can we guide our customers to continue through our Sales Process. They should always be offered benefits and rewards that interest them and satisfy their needs.
Under the methodology of Inbound Marketing and Customer Management, we know that the best promoters of the company are satisfied customers. Retention strategies focus on guaranteeing this satisfaction at all times, and thus prolonging the commercial relationship as much as possible.
Many companies neglect Customer Retention planning because they consider usa whatsapp mobile phone number list customer acquisition to be more important. But we must understand that each is vital in its own way.
Capturing new leads and customers is essential for any company, as this will help us maintain the flow of sales. But there is an important point to emphasize here.
It is estimated that for companies, attracting a new lead can be up to 6 times more expensive than retaining an existing customer. And when we are concerned about optimizing the use of resources, this is vital.
Not only is it more expensive, it also requires more time and effort. That is why, although there is no doubt that you should invest in new leads, you should also do so to build loyalty.
At this point it is clear that customers are easier to retain when they have been segmented and captured correctly. So we can say that capturing and retaining are two sides of the same coin.
Advantages of Customer Retention for your Brand
As we already mentioned, retention is essential to nurturing your Customer Management. But if you want to know specifically what advantages and benefits it offers you, we will tell you here.
Mainly, we can say that loyal customers are those who will always come back to buy more. In fact, they may invest more and more money in their transactions, due to the high level of trust they have in the company.
This translates into increased sales and a long and strengthened Customer Life Cycle for the company. And, as the customer remains loyal, this also weakens the competition.
This will improve your positioning in the market, and you will also be able to have greater reach and credibility due to the references of your consumers.
As we mentioned earlier, retaining an existing customer is cheaper than acquiring a new one . So it will also help you reduce costs with upselling strategies .
How to Calculate and Increase Customer Retention Rate?
It is said that what cannot be measured cannot be controlled. And since our desire is to be able to optimize and enhance our Customer Retention strategies, we must measure their effectiveness .
To achieve this, we must periodically and continuously monitor the customer retention rate. This will help us determine whether our efforts are working or not.
Under the methodology of Inbound Marketing and Customer Management, we know that the best promoters of the company are satisfied customers. Retention strategies focus on guaranteeing this satisfaction at all times, and thus prolonging the commercial relationship as much as possible.
Many companies neglect Customer Retention planning because they consider usa whatsapp mobile phone number list customer acquisition to be more important. But we must understand that each is vital in its own way.
Capturing new leads and customers is essential for any company, as this will help us maintain the flow of sales. But there is an important point to emphasize here.
It is estimated that for companies, attracting a new lead can be up to 6 times more expensive than retaining an existing customer. And when we are concerned about optimizing the use of resources, this is vital.
Not only is it more expensive, it also requires more time and effort. That is why, although there is no doubt that you should invest in new leads, you should also do so to build loyalty.
At this point it is clear that customers are easier to retain when they have been segmented and captured correctly. So we can say that capturing and retaining are two sides of the same coin.
Advantages of Customer Retention for your Brand
As we already mentioned, retention is essential to nurturing your Customer Management. But if you want to know specifically what advantages and benefits it offers you, we will tell you here.
Mainly, we can say that loyal customers are those who will always come back to buy more. In fact, they may invest more and more money in their transactions, due to the high level of trust they have in the company.
This translates into increased sales and a long and strengthened Customer Life Cycle for the company. And, as the customer remains loyal, this also weakens the competition.
This will improve your positioning in the market, and you will also be able to have greater reach and credibility due to the references of your consumers.
As we mentioned earlier, retaining an existing customer is cheaper than acquiring a new one . So it will also help you reduce costs with upselling strategies .
How to Calculate and Increase Customer Retention Rate?
It is said that what cannot be measured cannot be controlled. And since our desire is to be able to optimize and enhance our Customer Retention strategies, we must measure their effectiveness .
To achieve this, we must periodically and continuously monitor the customer retention rate. This will help us determine whether our efforts are working or not.