Attracting new customers is essential for a business to grow, but even more important is retaining your current clients. The costs associated with acquiring new customers is far greater than gaining renewals. Focusing on retaining and upselling current customers can have a very positive impact on your overall customer acquisition costs. There are other benefits including gaining evangelists for your brand and improving word of mouth advertising. Here we take a look at 5 ways to improve your customer retention rate.
Brand awareness is an essential piece of an overall marketing strategy. Before you can begin to build a brand, you first need to determine your identity. What do you want to be known for? How do you want the public to perceive you? Which social and charitable initiatives will you support? Which ones will you avoid? These and several other questions need to be answered before launching awareness campaigns. Here are a few other things to consider.