Did you know that you can increase your revenue by focusing only on your current customers? You don’t have to educate current customers on your products and services, you just have to keep them engaged and coming back. Almost 90% of customers claim they will pay more for a better customer experience. So how do you deliver this? Get direct customer feedback via surveys and interviews to identify what areas of the experience need improvement and then follow through. Simplify your checkout process, offer more discounts, or change your hours. By focusing on what your current customers want and improving their experience, you will create customer loyalty. Loyal customers are repeat customers and loyal customers advertise your business for free by word of mouth.
- While acquiring new customers is great, if you want to increase revenue you need to focus on the existing base
- If you struggle to find ways to improve, simply ask your customers for feedback with surveys and interviews
- You should personalize your email campaigns, provide value, and encourage engagement on social media
“If you’re spending too much money on customer acquisition, it could bleed your company’s bank account dry.”