When developing your Milwaukee marketing strategy, there are many factors to take into account. It’s quite obvious that the main goal for most campaigns is to increase your audience and customer base. However, you’d be smart to remember the buying power your current customers hold and pay close attention to them during your planning. Consider the following two points.
New Costs More
If you simultaneously gain a new customer but lose an existing one, the end result will be the same number of customers but lower margins. You may not know this, but it actually costs much more to gain a new customer than to keep an existing one. In other words, you’ll end up hurting your business financially if you consistently replace current customers with new ones.
Again, that’s not to say you shouldn’t put effort into finding new customers. The point is to remember the buying power and importance of your current customer base.
Relationships Are Important
The relationship you’ve fostered with your current customers makes it much simpler to sell products and services to them than selling to someone you don’t have a relationship with. Assuming you’ve provided quality service to your customers, there will be a level of comfort and willingness to try new products.
Remember, as you consider your Milwaukee marketing strategy, don’t leave out the loyal customers who have provided you with business for years. As you do bring in new customers, be sure to deliver the best possible service so as to keep them for years to come. Contact our Milwaukee ad agency for help getting started with a new plan today!