IT’S MY BIGGEST IRRITATION IN MARKETING...
...the amount of money some organisations spend on customer acquisition against the punitive amounts spent on customer retention.
In some cases customer acquisition can cost up to 3x more than customer retention... crazy!
‘Love thy Customer’ is the second business commandment after ‘Honour thy Cashflow’... Customers are the life-blood for any business. They know you, they know your business and hopefully they think you’re amazing and wouldn’t hesitate at spending more money to receive even more value from you.
They are also a valuable source for developing new products and services, researching your market and promoting your brand.
For further inspiration, please find below my top 8 ideas for ‘Loving thy Customer’
If you need to generate fresh leads and new customers for your company (and, let’s face it, who doesn’t?), then you need to create a marketing strategy. No ifs, buts or exceptions. Moreover, you need the right strategy. A marketing strategy that provides rock steady focus and guides direction; that identifies your potential customers and how you can communicate with them – and because timing is absolutely crucial – you need a marketing strategy that will also tell you when to communicate and how often.
For the average SME the mere term ‘marketing strategy’ can loom large and seem an almost...