Finding new donors is one of the primary objectives for your nonprofit organization. But keeping the donors you already have is just as important.
Consumers that form an emotional connection to a brand have a lifetime value that's over 300% higher than those that don't develop that attachment. As a result, they stay with that brand for an average of almost two additional years and recommend the brand to their friends and family at a 30% higher rate.
There are approximately 269-billion emails sent and received every day around the world. Text messages account for another 23-billion messages. Meanwhile, we spend almost 145 minutes per day on social media networks. That's why smart marketers reach out to consumers where they're at: their mobile devices.
You spend a lot of time designing a marketing plan to get customers into your retail location. But how much effort have you put into a marketing strategy once they're actually in your store? Let's look at the various methods you can use to appeal to your visitors with this ultimate guide for in-store marketing.
As a modern-day marketer, you're always searching for new ways to engage your customers. You don't just want them to buy your products or services, you want their continued loyalty, too. You want a customer for life. Luckily, there are strategic ways to accomplish this. One thing you can do is develop a customer engagement strategy.
Customer relationship management (aka CRM) is a way of managing your brand's communications with your current and prospective customers. The technology allows you to store their contact information, find sales opportunities, record service issues, and manage marketing campaigns all in one place. That way, every interaction you have with a customer is available for authorized users at your company to see.
Did you know it costs five to 25 times more money to recruit new customers than it does to keep your current ones? That's just the beginning when it comes to impressive retention marketing statistics. When you increase your customer retention rates by just 5%, you can boost your profits between 25% and 95%. Now that's a powerful incentive to focus on your retention marketing strategy. Some might even say that customer retention is the new marketing.
It could cost you anywhere from 5x-25x more money to earn a new customer than to keep an existing one. With that in mind, it only stands to reason that you should do everything possible to keep your current customers.
As a sales or marketing executive, your ability to relate to your customers in a way that creates a strong sense of understanding and trust is vital to your longevity. You can learn how to build rapport with them so they not only buy the products or services you're selling, they also buy into the reasons your business exists. In other words, they support your mission.