Should I worry about keeping or obtaining customers? Last week we discussed how important customer communication is and the positive effects of focusing on customer satisfaction. This post by the folks at Mashable continues the topic on whether it is better to focus on existing customers or find new customers:
Knowing how to spend your marketing budget with confidence is always a challenge. Where do I allocate the money so it makes the most impact? How do I allocate the money in a way that I can show tangible results? These are the typical questions marketers ask themselves.
Of all the questions, the most critical to answer is: Do we invest good money in acquiring new customers, or do we focus on retaining the customers we have already acquired and personalize their experience? "To retain or acquire?" — this is the question.
Great customer service can be the driving force behind a company. Listening to your existing customers, their needs and wants, and creating a product that is customer centric is so important to a business going forward.
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