Did you know it’s 5-25x more expensive to get a new customer than it is to keep an existing one? On top of that, you’re 60-70% more likely to sell to an existing customer vs. the 5-20% likelihood of selling to a new prospect.
It’s easy to get caught up in the idea of attracting new customers, so easy that you often forget that your best customers are already right in front of you.
They were your customers at one point or another, which means you’ve already won them over with your services. But winning those customers over once shouldn’t be your end goal.
Increase Customer Retention Through Re-engagement Marketing
The customers you retain and foster relationships with are more likely to spend more and purchase more frequently because they trust you and the value of your services. If you can increase customer retention by just 5%, you’ll boost company revenue by anywhere from 25% to 95%
In addition, once you’ve built a solid relationship with your existing customers, they’ll refer their friends and become powerful advocates who are likely to bring new customers your way. Happy customers are your business’s best advocates.
It can seem daunting to re-engage with your existing customers. But, in reality, marketing to your previous customers doesn’t have to be complicated.
It’s Easier Than You Might Think to Engage with Existing Customers
Here are five easy ways you can start marketing to your existing customer base today.
- Use texting to reach your customers wherever they are
- Leverage direct mail to reach your plumbing, HVAC, and electrical customers
- Add email to your customer-retention marketing plan
- Connect with customers on social media
- Reward your customers with membership and referral programs
Why Marketing to Existing Customers Boosts Revenue is our free eBook that takes a deeper look into these top five proven marketing strategies to help plumbing, HVAC, and electrical businesses boost revenue from existing customers. It will take you through how you can utilize these strategies to start generating more revenue today.