Small Business Owners - Do not Neglect Existing Customers to Attract New Ones | Small business news; tips; networking

Small Business Owners - Do not Neglect Existing Customers to Attract New Ones - http://www.smallbizviewpoints.com

Posted by AngelBiz under Customer Service
From http://www.smallbizviewpoints.com 3659 days ago
Made Hot by: NanoTechnologyMedia on April 22, 2014 8:30 am

It costs lot more to attract new customers than to retain existing ones. How to take care of existing customers to increase sales and profit.

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Comments

Written by AngelBiz
3657 days ago

Heather - Good question. There is a always a need to do external marketing to attract new customers. My point is you do not want to do it at the expense of existing customers. Many times I have come across a situation where customers who have been loyal for number of years are denied special promotion because they are targeted only at new customers. Just imagine the feeling you would get when hearing this, especially when you have done business with the company and spent significant amount over number of years.

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Written by HeatherStone
3658 days ago

Harry,

The argument you hint at here -- that taking care of existing customers will get you new ones -- is powerful. My question is how much marketing to attract new customers should you really engage in? Any? How much external marketing should you do?

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