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Cultivating Your Customer Base

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Cultivating Your Customer Base

CULTIVATING YOUR

CUSTOMER BASE

Keeping your name in front of your customer base is one of the Six Pilllars of
Success and an effective way to super-charge your marketing efforts.

Your customer base is one of your greatest assets and keeping your name in front of, and cultivating it, goes a long way toward super-charging your marketing efforts.

There is tremendous marketing value in keeping your name in front of your customer base. For maximizing sustained sales now and when it’s time to sell your business, your customer base will be one of the biggest assets that will be considered in valuing your company. This article explains why and will inspire you with some tangible ways to do it. And finally, we’ll review the PRO Partner benefits you have at your fingertips that make the task of keeping your name in front of customers in impressive ways virtually effortless.

What This Article Covers:

  • Benefits of Cultivating Existing Customers vs Cost of Acquiring New Customers

  • 7 Reasons Why Keeping Your Name in Front of Your Customer Base Matters

  • 5 Strategies That Help to Keep Your Name in Front of and Cultivate Your Customer Base

  • Your PRO Partner Benefits Work Hard For You​. Make Sure You Know What They Are and How They Make it So Easy To Keep Your Name in Front of Your Customers.

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Benefits of Cultivating Existing Customers
vs Cost of Acquiring New Customers

The Stats are Compelling

According to a study by Frederick Reichheld of Bain & Company, increasing customer retention rates by just 5% can lead to a 25% to 95% increase in profits.

Existing customers are more likely to refer new customers to a company. Research by
Nielsen indicates that 92% of consumers trust recommendations from friends and family
over other forms of advertising.

Customer Lifetime Value (CLV): CLV refers to the predicted net profit a company can expect
to earn from a customer over their entire relationship with the business. Focusing on CLV
allows businesses to understand the long-term value of cultivating existing customers.

According to a study by Harvard Business School, increasing customer retention rates by
5% can increase CLV by 25% to 95%.

Cost of Acquiring New Customers

According to a study by Invesp, acquiring a new customer can cost five times more than retaining an existing one. The Harvard Business Review states that acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.

7

Reasons Why Keeping Your Name in Front of Your Customer Base Matters

  1. Brand Recognition and Recall

    2. Staying visible ensures that customers recognize and remember your brand when they have a new need for the services you offer.

  2. Higher Conversion Rates

    3. Existing customers have already experienced the value of your services. Their familiarity with your company reduces the barriers to conversion, resulting in higher conversion rates compared to acquiring new customers.

  3. Cross-Selling and Upselling Opportunities

    4. Building a relationship with existing customers opens avenues for cross-selling and upselling. You can introduce complementary services or premium options to increase the average transaction value and maximize revenue.

  4. Customer Loyalty / Word-of-Mouth Marketing

    5. Word-of-mouth marketing generated by existing customers is highly influential and cost-effective, as it relies on trust and personal connections. By consistently engaging with customers, you foster a sense of trust and loyalty, strengthening your relationship. When customers are satisfied and connected to your brand, they are more likely to remain loyal and recommend your business to others.

  5. Lower Marketing Costs

    6. Acquiring new customers typically involves marketing expenses such as advertising, lead generation, and promotional campaigns. Retaining existing customers requires less investment as you can leverage existing relationships, customer data, and targeted marketing efforts

  6. Enhanced Customer Lifetime Value (CLV)

    7. Existing customers have the potential for long-term engagement, leading to a higher CLV. By continuously cultivating the relationship, providing value, excellent customer service, and personalized experiences, you can extend the duration of their relationship with your company.

  7. Competitive Advantage

    8. Cultivating strong relationships with existing customers creates a competitive advantage. Loyal customers are less likely to switch to competitors solely based on price, as they value the overall experience and relationship with your company.

5

Strategies That Help to Keep Your Name in Front of and Cultivate Your Customer Base:

  1. Content Marketing
    • Publish helpful blog posts, articles, or videos on your website and social media channels.
    • Share valuable insights, industry updates, and educational content to position yourself as an authority in your field.
    • Feature helpful resources on your site to encourage users to bookmark your site and tell others about it.
    • Regularly update your content to maintain relevance and encourage repeat visits
  2. Social Media Engagement
    • Leverage social media platforms to interact with your audience regularly.
    • Share engaging content, such as industry news, tips, and behind-the-scenes glimpses of your business.
    • Respond promptly to comments, messages, and reviews to demonstrate your commitment to customer satisfaction.
  3. Email Marketing
    • Build an opt-in email list and send regular newsletters or updates to keep customers informed.
    • Offer valuable tips and information, exclusive promotions, discounts, or loyalty rewards to incentivize engagement.
  4. Customer Appreciation Events
    • Host events, workshops, or webinars to engage with your customers on a more personal level.
    • Provide opportunities for networking, learning, and showcasing new products or services.
    • Encourage attendees to bring friends or colleagues to expand your reach.
  5. Referral Programs
    • Implement referral programs that incentivize your existing customers to refer your business to others.
    • Offer rewards, discounts, or exclusive benefits to both the referrer and the new customer.
    • Highlight successful referrals to showcase customer satisfaction and encourage further recommendations.
It is important to note that acquiring new customers is still essential for business growth. However, recognizing the higher value and lower costs associated with existing customers allows you to allocate resources effectively and prioritize customer retention strategies. By focusing on building long-term relationships and delivering exceptional experiences, you can maximize the value of your existing customer base and drive sustainable business growth.

It Pays To Have an Unfair Advantage...

Your PRO Partner Benefits Work Hard For You

Following is an overview of the benefits you have at your fingertips and some tangible ways to use them to keep your name in front of your customer base almost effortlessly.
Bottom line, keeping your name in front of your customer base is a key element of sustained business success. By maintaining brand visibility and engaging with your audience, you can enhance brand recognition, foster customer loyalty, and differentiate yourself from competitors. Through effective content marketing, social media engagement, email campaigns, customer appreciation events, referral programs, and collaborations, you can establish a strong brand presence and build lasting relationships with your customers. Embrace these strategies, and your business will thrive in an increasingly competitive marketplace.

We develop PRO Partner benefits with these needs in mind. Let’s start with a few important tips:

  • Schedule a call at your convenience to discuss ideas and brainstorm with your support team on things that can be done to keep your name in front of your customer base.
  • Participate in webinars and eLearning workshops that educate you on marketing essentials as well as inspire you with ideas.
  • Make sure you have a grasp on the benefits available to you and that you are taking full advantage of them.

PRO Partner Benefits That Help You Keep Your Name in Front of Your Customer Base

iContact Account

We provide and support an iContact account for all PRO Partners. iContact is an award-winning email marketing program that makes managing your customer database and mass email communications easy.

Our design team can help you with designing and sending out custom designed newsletters or we can support you if you want to take this task on yourself. Want to send out plain emails enmasse to your customer base? We can help with that too.

Surface BUZZ

Surface BUZZ is the digital magazine we publish on behalf of PRO Partners. It is beautifully designed with interesting and very readable articles written by our technical directors or guest contributors.

The magazine issues reside on your site (yourdomain/surfacebuzz) with a subscribe form alongside it. The magazine engages users, (which Google loves!) but the primary purpose of the publication is as a way for you to keep your name in front of your customer base.

How it Works

We’ll notify you when a new issue is published and we’ll send out a blast to your customer base on your request. (We will always reach out to you first and your email list will never be touched by us for any reason other than this.) Issues are theme-based rather than date specific so you can send out issues as you see fit.

It’s important for you to subscribe your customers to Surface BUZZ. They can always unsubscribe if they want, but let them know you will be subscribing them. We strive to make each issue one that reflects well on you and that your customers will enjoy and look forward to getting each time.

Syndicated Articles Posted to Your Site, Facebook, and Your Google Business Page

For Premium level PRO Partners, every month we post informative and interesting articles written by our technical directors to your website, Facebook and Google Business Page. They serve as content that engages users and gives them yet another reason to bookmark your site and follow you.

The articles make great fodder for email marketing also. Sending out a simple newsletter in your predesigned branded eNewsletter template with an image and teaser about what the article is about and link to the full article on your website is a quick and easy way to keep your name in front of your customer base.

The Care Guides

Your personalized Care Guides resides on your website. Any time anyone looks at your care guides, they are seeing your brand and contact information.The care guides are beautifully designed and packed full of valuable information, and present yet another way users engage with your site. Because they are so full of helpful information, your site visitors and customers will want to save them for referring to and are encouraged to forward to friends and family.

There are several ways you can use your Care Guides to keep your name in front of customers:

  • Thank your customer with your care guide after you complete a project.
  • Include a link in your email signature to the care guide.
  • Include a link to the care guide in your email blasts.

The Interactive Stain Treatment App

The stain app resides on your site. Prospects and customers will want to bookmark your site because the tool is a great resource for them. You can get a lot of mileage out of this tool for cultivating your customer base. It’s also a good idea to include this resource in your email blasts.

Video - PRO Collection or Custom

Video is HUGE! We have produced a collection of videos in the PRO Partner Collection that are free for PRO Partners to use. (We can personalize them for you for a design fee.) Our video production team can also produce custom video from shooting to post production, or if you give us footage, we can create a finished video for you to post on your site, on your social media pages, to include in your digital brochures, or to include in email blasts. Did I say video is huge?

Design Team

Want to do some customer appreciation events? Or a presentation of any sort? Create coupons or specials to include in your email or social media marketing? If you need graphic design, content writing, or a page added to your site our design team is available to work with you to make it happen.
Remember! Work with your support team to make sure you are taking full advantage of all of your benefits.