Don’t Forget Your Regulars
Most business owners target their marketing efforts toward gaining new customers. While that is always a good thing, they must remember that their current customers have the choice to shop elsewhere. This is a phenomenon that is seen in many sectors and needs to be addressed by businesses when considering the implementation of a new marketing approach.
Your current customers mean a lot to your business and they must not be ignored. For instance, cell phone companies have traditionally offered new customers great incentives for signing up, but have sometimes ignored their current customers. Many flock to other companies as they can get that new customer discount. This is just one example of what happens to businesses that decide to shift their focus in this manner.
Before finalizing a marketing campaign, you should consider the types of customers you already have and their priority:
1. Bread and Butter Customers
Your core customers simply need what you have, you see them often, and you know their names. Well…you better! They usually contribute about 60% of your overall revenue, so consider your marketing plan with them in mind. It could pay off in spades as they will help with word-of-mouth advertising and recommend you to all of their friends and family. They often fit into the same demographic and since they often share the same traits as a group, an all-in-one marketing push may be enough to appease them.
2. Seasonal Customers
These guys come in once or twice a year and can help you get over any financial humps you may experience. Treating them well should be a priority, but usually no marketing campaign will make them need your product more than they already do.
3. Bonus Customers
Sometimes, customers come in out of the blue and spend large sums of money at your store or business. You think that maybe they should be the focus of your efforts, but that may be a bad decision. Bonus customers often have no rhyme or reason, so marketing to them is fruitless. Just consider them as a bonus as their name implies.
What do you think?
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