The June “Technology Roadmap” stop covers marketing to your customers. When we think about marketing, we often think about using it to bring in new customers as generating new leads is usually the focus of the marketing department. However there has been a trend this last decade where the focus is shared and companies are spending more time and money on improving customer retention rates. Studies have shown that improving your customer retention rates just 5% can increase your profits by over 25%. Keeping that in mind, here are 4 additional reasons why marketing to your existing customers is important.

1. Existing customers spend more money
   1. Your loyal customers have already chosen you and your products over that of your competitor. Since they trust and value your business, they are not as price-conscious and willing to spend more.
2. Positive customer relationships improve brand credibility
   1. Your customer service plays a huge role in promoting customer loyalty. If you have a loyal customer base you will have repeat clients, customer referrals and high retention rates. Some great examples of customer service include making customers feel special, addressing them by name, rewarding them, providing prompt support and customizing your automated replies and notices.
3. Aid in your product expansion efforts
   1. If the goal of your business is to grow and expand or introduce new or additional products, then a solid customer base is your best audience. Cross-selling is more effective if a strong relationship has been established. Using mediums like newsletters, SMS and social media consistently to your customers will help you expand your business faster.
4. Your existing customers will bring in the new customers
   1. When people love a service, product or company, they want to tell their friends about it. These personal recommendations will do more for your business than a random billboard would ever do. Another effective way to convert leads is from customer reviews detailing their experience with you. Make it easy to collect testimonials so you can use these powerful reviews to promote your business.

Now that we understand why it is so vital to market to our customers here are some ideas you can put into action to market and solidify these relationships.

• Mango Customer Message Centre – A module incorporated into Route Manger that integrates voice, SMS, fax, and email into a seamless process that allows you to reach out to your customers using the channel that they prefer. You can design, personalize and schedule reminders for past-due balances and billing, statements, invoice copies, upcoming delivery notifications, delayed services, marketing promotions, text messages that you’re arriving soon and much more.
• Sending out newsletters consistently – Using programs such as Constant Contact or Mail Chimp can make it easy to stay in communication. You can schedule out in advance, post automatically to social media and even resend emails with the click of a button.
• Create a loyalty or rewards program – Customers love to be recognized for referrals and purchases. You can also offer freebies or extras for loyalty.

Putting into action some of these steps and remembering to appreciate your customers can go a long way when it comes to grown, longevity and profitability for your business.