In today's economy the online marketing solution goals most businesses should have at the top of their list are:
- Keep the customers you have
- Obtain more high-quality leads
We all know it's cheaper - a lot cheaper - to keep the customers you have vs. finding new customers. It costs five times more to acquire a new customer than to keep an existing one. And there's a 60-70% chance an existing customer will buy from you again. New customers are only 5-20% likely to make a purchase.
No business can afford to lose customers, especially in a down economy, and the most economical way to keep your customer totals the same is to keep the ones you already have. But how do you build on that base and deliver new customers - even in hard times?
Quality leads is the name of the game and Internet marketing delivers them in spades. And it delivers them in a way that offers measurable results. When money is tight accountability and the ability to measure results become even more important. Business owners need to know what is working and how much it costs so they can concentrate marketing efforts and dollars on successful programs. In these tough times marketing dollars are being shifted away from higher cost endeavors such as trade shows and print advertising and into online marketing solutions.
Three things will help deliver those high-quality Internet marketing leads:
- Measure your marketing programs. Online marketing lends itself to this very well by allowing you to measure visits, clicks and conversions.
- Target your customers and prospects. Focus on programs where potential customers are looking for information, products and services.
- Continue to market, especially during hard times.
Choose the right venues - focused on measurable results and your target audience - and you can continue to win business no matter what's happening with the economy.
P.S. Our strategic marketing consulting is designed to show you the strategies that help keep the customers you have while generating more and better leads.