Maximize sales with retention marketing

[mehjabins870]

Retention marketing, which targets existing customers, can be said to be a measure with high marketing ROI. This is because of the " 1:5 rule ." This means that it costs five times as much to acquire a new customer as it does to acquire an existing customer.

This law proves that for many companies, focusing on retaining existing customers tends to be a more efficient marketing strategy than focusing on acquiring new customers. Therefore
, by reducing the cost of acquiring new customers and focusing on retaining existing customers, you can expect to maximize your sales.
By using a CRM system in this case, you can plan and verify more effective measures, and as a result, you can expect to improve LTV (customer lifetime value), which is the total amount that one customer pays to a company.

Three Key Points for Successful Retention Marketing
Retention marketing targeted at existing customers bahamas telegram database can be expected to maximize sales. It also has high compatibility with CRM systems and is effective when considering improving LTV. Here, we will introduce three key points for successful retention marketing with concrete examples. The
key is for companies to provide existing customers with a "sense of exclusivity" and encourage their loyalty. To achieve this, it is important to provide one-to-one communication.

1. Manage existing customer data and share it internally
"Knowing your customers correctly" is a prerequisite for any marketing activity, not just retention marketing. To do this, it is necessary to create an environment where customer information can be integrated, digitized, and analyzed. This data, which is important for understanding the needs of existing customers, must be linked to each individual customer.

The most effective way to do this is to introduce systems such as CRM and SFA. CRM systems are based on the function of managing the details of a huge amount of customer information and using it for activities to improve the relationship between companies and customers. On the other hand, SFA systems are solutions that focus on sales. They are based on the budget/actual management function that manages the achievement of goals and the progress of achievement by comparing budgets and actual results, and are equipped with a case management function that grasps the progress of cases.