Customer Retention is essential for success – A Loyal Customer is the most profitable

Acquiring new customers is costly. Marketing for new leads is a drawn-out process. Lead follow-up and closing of a sale are time-consuming.

Whereas selling to a current customer is fast and easy.

Investing to increase Customer Retention and Customer Loyalty pays back in many folds and much faster.

SMS Marketing (or Texting) is a powerful tool to increase Customer Retention.  It has the highest ROI of all marketing channels.

Let’s learn more about these.

The process of acquiring new customers:

  1. Attract new leads via SEO, Social Media Marketing, Email campaigns, SMS marketing, PR campaigns, and other marketing channels.
  2. Discover their needs and present your products or services as potential solutions.
  3. Sell them on your company’s product quality, customer service excellence, reliability, and credibility.
  4. Answer their objections.
  5. Discuss competition offerings to show the difference.
  6. Wait for them to be ready to purchase.
  7. Sell to them when they are ready.

The process of selling to current customers:

  1. Over time, keep customers happy with the quality of your products or services and customer service.
  2. On a going basis, keep customers informed about your various products and services by sending regular newsletters or emails. They learn about upgrades and expansion opportunities of your offerings.
  3. Solicit their opinions via online surveys and follow-up calls. They believe in your company’s integrity, excellent customer service, and commitment to customer success.
  4. The customer approaches your team when they need to upgrade or expand the use of your products or services.
  5. You provide pricing and other information.
  6. They make the purchase.

Cost:

Acquiring a new customer costs five times more than selling to a current customer. There is extensive market research available that proves this.

Increasing customer loyalty and retention increases profits by reducing the time and cost of doing business.

Tools to increase Customer Retention

SMS Marketing or Texting has a very high ROI. It sends customers info on new products or services, special offers, surveys, and renewal notices. On average, a text message gets read within minutes.

Conclusion

If you want to increase revenues and grow profits, retain the services of an SMS Marketing firm.