Have you ever heard the saying, “It’s more expensive to find new customers than to keep your old ones?” Well, get ready, because it’s 100% true!
There is a lot of money that goes into finding new avenues to reach new customers every day. Yes, this is an extremely important part of business, but why spend so much time and money chasing around new customers when you haven’t effectively retained your current ones? This is certainly not a part of your business that can be ignored.
This is where social media comes into play. Just as Josh Catone surmises, social media is the place to be when trying to retain customers. It is inexpensive, effective, and requires a small amount of time. But how exactly does it work?
First, you must point your current purchasing customers towards the social media platforms on which you are present. Make this action a benefit to them. You could offer a coupon or discount if they go and like you on Facebook or follow you on Twitter. It’s not about how you get them to commit to your news feed, but the simple act of getting them there.
Once you have these current customers locked in online, you have gained the ability to be in contact with them on a somewhat regular basis (read more in my blog pots on how to use social media to have conversations with your customers). You will be part of their news feed and present in their minds. The key to retaining customers is just that: staying present in their minds. This way, the next time they find themselves with a question or need pertaining to your product or service, you will be the first on their mind. This creates the second-time customer, and third, and forth… You get the point.
So make sure your invest that minimal time and money into using social media to retain your customers to get the maximum return. In the end, you will find that your customer retention skyrockets and that your relationships with them become even stronger. This will help to increase sales and grow your business.
How will you use social media to retain your customers?
Image Credit: http://blog.hubspot.com/blog/tabid/6307/bid/5814/Social-CRM-Lessons-for-Retaining-Customers-with-Inbound-Marketing.aspx
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