By Connor Campbell
Digital Content Editor, Lessiter Media
ccampbell@lessitermedia.com
262-777-2404
Do you have a punch card in your wallets for your favorite shops? Or coupons and rewards cards for different companies? The sound of free fast food, coffee, or movies is enticing, especially when it costs nothing to enroll. The caveat is that you have to return or keep spending money with that company to earn it. This is an example of retention marketing.
In simple terms, retention marketing is a tactic where a company utilizes its existing audience to boost sales and market for them. For example, McDonald’s has a rewards app that grants you deals, discounts, and free food.
Ultimately, if you treat your customers well and further build your brand, you will naturally bring in more customers. When something is great, we tend to tell people. According to Saasquatch.com, “...because you’ve already established a relationship, you have a 60-70% chance of selling to an existing customer. This success rate is only 5-20% for a brand new customer.” Growth lies in the customers you already have.
In this infographic, dive into five helpful ways to boost retention while also opening the door for new customers.
Want to review some ways to incorporate retention marketing into your business plan? Drop me a line, and I'd be happy to schedule some time to discuss further.
