Every business seems to put an extreme focus on attracting NEW customers. New customer acquisition programs are ‘sexy’; give-aways to get people to leave their current suppliers and join another team are prolifically offered despite the added costs involved in providing the tokens offered as bait.
Forgotten in all this hoopla is the existing loyal customer who is ineligible for the Killer Deal, but who has paid handsomely for the products and services they’ve received over many years.
They get NO new deal. They get NO respect.
In this episode, I share the marketing Moves I made to grow customer loyalty by offering special deals to EXISTING customers FIRST, and why offering special deals to attract new customers makes little economic sense.
