There is always a balance that must be juggled between customer retention and customer acquisition. Getting new clients is a great feeling, but retaining clients that have already shown interest in your product is often more time- and cost-efficient. If you are crafting your social media marketing campaign, here are six great reasons to focus on the customers you already have.

Competition in the Digital Marketing World is Getting Fierce

Competitors are always using newer and better social media marketing strategies, and retaining your customers is getting harder. No matter what size your company may be, you are competing with all other companies in your niche because of the connection businesses can now have online.

Your Product is Not Enough

Customers today expect that their dollars are going towards more than a product. They support companies based on the values of the company, the lifestyle the company represents, or the experience that is offered with the purchase. You must use your digital marketing to engage customers so that they remember you.

You’ll Save Money

Studies have shown that customer retention is far more affordable for businesses than customer acquisition. In fact, it costs up to seven times more to convince a new customer to make a purchase than it does to sell a product to an existing customer. It is a very sound financial decision to focus some efforts on customer retention.

The Economy Makes Budgets Tights

You aren’t the only one that wants to save money. The economy around the world means your customers are also looking for ways to save. When you convince a customer to part with their carefully budgeted dollars, it’s a big success. Make sure you make the most out of that success by focusing on keeping them coming back.

Your Loyalty Program Isn’t Enough

The loyalty programs that offer rewards, points and discounts are nice, but today’s customers aren’t that interested in confusing programs. Instead, they prefer things like apps where they can order ahead, personalized marketing, and a buying experience tailored to their needs or tastes based on ordering history. By making sure that your digital marketing focuses on what the customers of today want, you’ll actually be able to save time, headaches, and money by eliminating outdated loyalty programs.

Customers Are All Critics

Finally, it’s very important to hang on to clients that love your product, because their testimony will get you far. Customers today are all critics, and it is no longer simple to get great reviews. When you do have good reviews, those customers are even more valuable because they help you boost your credibility.

Want to learn how to focus your digital marketing and social media marketing on customer retention? Take a look at our services to see how we can help.