Here’s why you should spend more time marketing to existing customers

Sadly, only a small minority of small businesses for any kind of marketing to existing customers.

But here’s what many fail to understand: it’s far easier to sell to existing customers than it is to new ones.

And if they’ve bought from you already then they will buy from you again if you offer them something worth having.

So, this short video walks you through several reasons as to why you should spend more time marketing to existing customers

TRANSCRIPT

Marketing to existing customers is low-hanging fruit

Now one of the cool things about it is that it’s much easier to sell stuff to existing customers than it is to go out there into the wide world to find new customers.

But the shocking reality is that only a minority. I’m talking about less than a third, maybe even less than a quarter of small businesses regularly keep in touch and market to their existing customer base.

And to me this is an outright travesty because, to be honest, your customer base is the easiest market you’ve got.

If they like you do business with, you more likely to buy again or buy different stuff if you let them know about it.

But the more I see this the more I think we really ought to be promoting to existing customers.

We really ought to be keeping in touch with those who have already bought from us in some way, shape or form.

How to grow your business by nearly a third:

Now I want to let you into a bit of a secret. Now, here’s a quick way of growing your business by a third.

  • And that’s to get 10% more customers.
  • Get your existing customers to spend 10% more for every purchase
  • get them purchasing 10% more frequently

So 10% more customers, 10% more spend per purchase and 10% more frequently.

Now, here’s the cool thing about it is if you did all of those, your business would grow by just under a third. 33.1% to be exact.

And all you’ve done is to get 10% more customers.

Marketing to existing customers is one of the easiest ways to sustain and grow your business
Marketing to existing customers is one of the easiest ways to sustain and grow your business

You’ve not spent all your time just getting new customers. Only 10% of that growth is with new customers.

The other two are working with existing customers and getting them again to spend 10% more every time they spend something and to get them spending 10% more frequently.

Now I would urge you to have a think about this.

If you want your business to grow by a third really quickly, just focus on 10% more customers, 10% more spend per purchase and 10% more frequently spending.

Growing a business is actually quite simple but we make it more complicated by overthinking it. By not properly doing our marketing, not properly doing our research, not properly understanding our customer base and a whole bunch of other things.

But the mechanics of it are actually fairly straightforward.

Keep it simple, focus on those numbers.

Don’t ignore those who’ve already bought from you

Spend more time promoting to your existing customers.

I promise you it will be so worthwhile and again so few businesses actually do this.

They get a customer on board and then they just assume that they’re going to stay. They just assume that every time they want to buy something they’re going to come back because they’ve bought from us before and it’s lazy.

And at worst it’s arrogant to believe that your customers are just going to keep coming back because they bought from you in the past.

Sadly, consumers and businesses are smarter than that these days and if they can’t see a good reason to stick around they’ll go somewhere else.

So the key thing is this spend more time marketing to existing customers.

It’s one of the easiest things you can do but the great thing about it is it will help to sustain your business long term.

But it will also be so much easier to sell to your existing customers. It’s not difficult.

Keep it simple and don’t overthink it.

Don’t over complicate it but just remember if you want your business to grow by a third get 10% more customers, 10% more per spend, 10% more frequency of spend.

It really is that simple.

Want more on marketing? Check out:

Why a focus on value can revolutionise your marketing (blog post and video)

What is Marketing? – YouTube video course

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