When it comes to marketing for your business, targeting your existing customer base is key. When you’re trying to sell your services, don’t you think you should target people who already bought your product? The right marketing plan requires many hoops to jump through, but one thing is for sure — it is very beneficial to market to existing customers. But why is marketing to existing customers essential for your business? Take a look at the two reasons below:
You Already Have a Relationship
In the marketing and business world, it can be very challenging trying to acquire a new customer. While you spend multiple resources trying to get their attention, your focus should be trying to obtain that relationship. In any line of business, forming that relationship is key to growing sales and increasing revenue. Once we sell product or services to a customer and form a relationship, it’s proven to be easier for them to purchase more. Of course, they must enjoy the transaction to keep coming back, but it’s far easier to sell more product to them, compared to acquiring new business.
Repeat Customers Spend More
Throughout the years, there has been multiple studies that prove existing customers spend more than new customers. When you’re buying a product or service for the first time, you might be a little hesitant on your purchase decision. While you actually might need more product, you’ll only purchase a little bit to see if the company is a trusted source. If you’re happy after the first purchase and you need more product, you’ll most likely reach out to that company again. Once someone is happy with the purchase they made, they’ll keep coming back for more and more.
Online Marketing Los Angeles
If you need help marketing to your existing customers, Resolve Internet Marketing is here for you. We’re the online marketing agency Los Angeles can trust. Call us today to get a FREE no obligation consultation!