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Have you seen The Customer-Focused Marketing Playbook?

This comprehensive and practical guide to the latest ideas in customer-focused marketing hands you over 200 packed pages of strategy, best practices, do's and don'ts, practical know-how, facts and figures, and ideas to optimise your marketing strategy, boost sales, market share, increase ROI and profit.

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Brands forget loyal followers in acquisition drives

Nine out of ten (89%) consumers believe that most brands put more effort into attracting new customers than looking after existing ones, according to a survey of more than 2,500 UK consumers by Grass Roots Group.

The research noted that this apparent gap in brand marketers' priorities leaves existing customers feeling frustrated and does little for loyalty, with fewer than half (49%) even considering being disloyal and switching brands if a provider's special offers are only available to new customers.

In today's competitive marketplace, it is imperative that brands don't lose sight of the importance of retaining existing customers, especially when they opt to attract new business with exclusive special offers. More than half (55%) cited loyalty rewards as an important factor when staying with a provider, suggesting that this is an area that must not be ignored if brands are to keep otherwise loyal customers happy.

"It's hard to go online or watch TV without being served up special offers for new subscribers or shoppers, making it all too easy for consumers to become fickle when it comes to loyalty to just one brand. Our research has shown that customer loyalty is being compromised and people will switch brands if they feel they are being forgotten or not given the same treatment as new customers," explained Ian Horsham, divisional director of promotions and incentives for Grass Roots Group. "Brands are becoming complacent when it comes to customer retention. They concentrate too much on securing new customers, leaving others to feel undervalued."

With the cost of customer acquisition often being cited as five times greater than the cost of keeping existing customers, it is clear that this strategy could have a huge impact on revenues and future business success. A loyalty programme should therefore go hand in hand with a new customer programme as a key part of retaining customers after they have made the decision to switch to your brand.

Sources: Grass Roots Group / The Marketing Factbook.
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Categorised as:

Customer Experience
Customer Loyalty
Knowing The Customer
Marketing Know-How

Have you seen The Customer-Focused Marketing Playbook?

Learn the insider's tricks and techniques to turn every customers into a 'super spreader' for your brand. It's better than free advertising. Once you start this ball rolling, your brand can grow rapidly through word-of-mouth, advocacy, influencers, and customer loyalty. Super-charge your company's marketing strategy, build up your market share, and make more sales through repeat business and customer loyalty.

Find out what works - and what doesn't - and who's succeeded, and how they did it. See how the world's top brands keep their competitive edge against all odds.

The Customer-Focused Marketing Playbook walks you step-by-step through the techniques, metrics, reporting, analysis, marketing models, technologies, tools and innovations for successful marketing strategies - both traditional and emerging - with expert guidance from thought leaders in every major market. Find out the best ways to gather, analyse, and act on customer data to increase profitability, build your brand, empower your customers, beat the competition, reduce churn, and increase customer profitability. This is a marketing book you simply can't afford to be without.

This book aims to hand you all the facts, figures and research data you need for the best decisions for a more profitable, more engaging marketing strategy. It also highlights all the facts, forecasts and trends identified by our experts from the global Marketing Factbook's vast database of market data, news, studies, research and articles, and presents you with an invaluable library of ideas and practical support you can call upon at will.

With The Customer-Focused Marketing Playbook at your side, you'll have instant access to a true goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, research and market data, plus all the supporting arguments you need to build a solid, profitable marketing strategy.

Get it on Amazon (Kindle/Print)