Acquiring new customers is a key part of growth for any company, but caring for your core base of loyal customers is the best way to see gains in your revenue stream through upselling and more frequent purchasing. Furthermore, it costs more to capture new customers than it does to upsell to your existing customers, so targeting and attending to the needs of those clients is an important part of any brand strategy.
Mijo! Brands offers 3 tips on maximizing revenue from your target market:
Really Know Your Customer: who are they and what do they have in common? Why do they stay loyal to your brand and what products or services are they most interested in? The more information you can gather about your target market, the more specific and effective your marketing campaigns will become.
Hear What They Are Saying: social media gives brands an amazing opportunity to get immediate feedback from customers. Pay attention to both negative and positive feedback and interact with your clients to show them what they’re saying is important to you.
Automated Marketing: Customers love feeling special, so automated marketing like birthday emails, thanking them for their engagement or asking for their opinion is an excellent way of showing your customers that they are important to you and keeping them engaged with your brand.
What steps has your brand taken to “show the love” to your target market? Leave us your comments below.