It is a well-known fact that it is much more expensive to acquire new customers than it is to grow existing customers. In our third episode of Marketing Masters we teamed up with Matt Wilkinson, CEO and Founder of financial marketing agency, Bizink to look at some of the best approaches to tap into the hidden value in your existing client base.
Events and email marketing are two of the easiest means to help keep your customers close.
Events: People buy from people
When it comes to generating new business opportunities, getting face-to-face with your customers is one of the best strategies. Company events are a forum to gain valuable feedback and reinforce your brand and the value it delivers. From receiving the invitation to the follow-up email, they provide several different touchpoints to engage customers and prospects. In addition to building connections, exclusive event-only offers are a great opportunity to upsell existing customers and spark interest around a new product or service.
Email marketing: Fix the leaky bucket
Email is a cost-effective channel that can help make your customers feel special, valued and appreciated.
Drip campaigns are automated email campaigns that are sent out on a schedule. They can be sent based on trigger events such as a purchase, or used to re-engage old customers when they become inactive. The most effective drip campaigns are those that take recipients on a journey, providing valuable information and educating them on a topic of interest – that is what ultimately cultivates engaged customers. The use of repetition, such as monthly updates or newsletters, can help to retain existing customers by keeping them informed and incentivised.
Creating customer journeys and segmenting existing clients is vital to ensure emails are personalised, relevant, and contain information of value. Keep your emails short, and avoid using multiple calls-to-action that dilute the message. While each firm’s approach will be different, continue to test fresh email strategies and tactics until you find the right mix for your client base.
For more ideas on how to turn your existing clients into passionate advocates, watch the webinar below!
To find out more about how myprosperity can help you engage your existing clients and create a brilliant customer experience, get in touch today!