Customer retention marketing
Recruiting new customers costs five times as much as retaining current customers.
Customer loyalty is more important than ever and can make a massive impact on your business.
If a customer has previously made a purchase from your company, there is at least a 60 percent chance that the customer will make at least one more purchase. Meanwhile, if a new visitor clicks on your site, the chances of that person becoming a paying customer are only 20 percent at the most.
Quality of service is essential for customer retention. 31 percent of the time, customers switch service provider because they found a new company with better prices. 34 percent of the time, however, they switch because they are dissatisfied with the service at the old company.
Despite the importance of customer retention, less than a third of business owners consider it a priority.
If you offer a £25 discount to retain an existing customer, it would cost £125 to attract a new one.
It is costly to attract a new customer than simply to cultivate the loyalty of an existing customer.
Why do we spend so much money on customer acquisition marketing when customer retention marketing works so much better?
And yet we find ourselves spending most of our marketing budget on finding new customers instead of nurturing the ones we already have. Yes, your business needs new customers, but not at the expense of the ones you already have.
Download our Refer A Friend Scheme
CERQL offer a comprehensive acquisition service, one car or fleet, new or used.
Sourcing within pre-defined parameters
Establishing contact with vendors of identified vehicles
Full disclosure of used car condition
Marketing & lead generation
Updating websites is always a priority, but focus must be maintained on social posts. Both should have fresh content and reflect current trends.
Prospects generated have a cost and require professional handling, every enquiry is a potential sale either now or in the future.
Referrals are hidden gems and come from the respect gained through professional handling of prospects. Never underestimate word of mouth.
© CERQL 2021