Tuesday, May 13, 2008

Ramp up Your Customer Retention Efforts

Is customer service dead? You’d better hope not.

Customer service is, of course, the key to satisfied customers. Scratch that—not just satisfied, but loyal customers.

Even in bullish economic times, customer retention costs a lot less than customer acquisition. And in the current iffy economy, retention is even more important.

But many B2B marketers remain more focused on attracting new customers, according to a new report.

The Chief Marketing Officer Council’s study, highlighted in BtoB Magazine, found that only one-third of global marketers have strategies in place to win back dormant or lost customers, and only half have strategies to further profit from key account relationships.

That’s too bad, because a host of new media and technologies offer us all kinds of fresh opportunities to understand, inform and interact with customers. For example, Scheibel Halaska works with several clients on email newsletters aimed at keeping customers in the loop.

Current customers, after all, are your most crucial target audience. Sure, you’ve got to be out there selling. But it’s a whole lot easier to sell to the folks who are already sold on your company.

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