18 Dec Targeting Previous Customers
By Daniel Keever
It is common when thinking about your advertising strategy to focus on how to grow your client base. How do you increase your market presence? How do you turn a few new heads to capture their attention? The assumption can sometimes be to try and target new pools of potential clients, hoping to engage as many new people as possible. This is understandable, but if this is your primary goal with your advertising, it’s possible you may be missing out on one of the most profitable marketing strategies.
Research shows that conversion rates for calls to action in advertising are higher for previous customers than for potential customer campaigns. If you stop to think about it, this is makes a lot of sense. Many people would rather go to a restaurant where they know they like what they have on the menu. When it comes to many financial decisions, many of us want to know that we will get exactly what we want, and that draws us back to known, dependable brands and businesses.
So what does this mean for your business? When you are working on who to target with your advertising, don’t neglect the clients you’ve already connected with while simultaneously pursuing new ones. To keep it simple, here are two closing thoughts to consider when prioritizing repeat customers in your marketing plan:
- They are statistically more likely to engage with your calls to action (purchases, sign ups, etc.)
- The more positive experiences customers have with your brand, the more likely they are to refer it to their own social circles, creating a referral which is the most effective form of marketing!
So get out there and turn those clients into friends of your brand!