While it’s important to focus on gaining new customers, it’s just as important to retain current ones. After all, they are the ones who are already invested in your brand. The last thing you want is to forget about them and give them room to stop caring about your company.
There’s a strong business case for this. According to Outbound Engine, it costs five times more to gain new customers than it does to retain existing ones. Furthermore, it’s human nature to be more willing to buy something you’re familiar with as opposed to something new.
Your communication strategy should include both kinds of customers. Once you have their interest, they’re more likely to tell their loved ones about your brand and what it has to offer. In several blog posts, I mention how important learning and understanding your target audience is. This is why!
Invest in your existing customers. They’re worth it!