New customers or existing customers – who is more important?

“We need and must get more new customers!”
Sometimes many businesses can be guilty of only concentrating on getting new customers. They focus all their time, money and attention on getting new customers signed up, buying or over the line… When the reality is, it’s a lot easier to sell to their existing customers.

Probability of selling to an existing customer 60 – 70%

Probability of selling to a new customer 5 – 20%

Of course getting new customers is very important and always a great feeling, and rightly so, with so much competition out there these days, a new customer should always be a celebration. However making sure your existing customers are happy and well looked after, is arguably even more important.
A target for every business should be turning their consumers into regular loyal customers…

On average a loyal customer is worth ten times as much as their first purchase

But how do you turn consumers into loyal customers?
Well of course there are a few ways you can do this, making sure your product or service that you are providing needs to be of great quality and value for money. Another is by your customer service and support being so good, that the customer feels so special and valued, that they wouldn’t dream of going anywhere else.
It’s not rocket science.
A few tips on how to make loyal customers…
1. Send them relevant personalised content
If a customer has just purchased a pair of new football boots, in a few weeks send him a personalised message about your replica football shirts.
By segmenting your database and including first names in your messages, you will be sure to send out personal relevant messages to your customers – more relevancy, more response.
New or existing customers

2. Make them feel special
Make your customers feel special and feel like they are valued and have a unique relationship with your business or brand.
Send them special VIP customer offers or an exclusive offer on their birthday. (See our perfect customer journey post here)
3. Grab their feedback and thoughts
Some businesses are worried about grabbing feedback as they are scared what some customers might say, but it’s important to learn where you could improve but also what areas you are strong in. (See surveys post here)
Remember you are not going to please everyone, so don’t get disheartened.
So although getting new customers is important and great, don’t neglect your existing customers – you have already done the hard work and got them onboard… don’t let them go!