Guest post by Hardik Oza.
According to Forbes, it costs five times more to acquire a new customer than to retain an existing client. Understanding and fulfilling your existing customers’ expectations will help you build a loyal base of customers. Creating engaging experiences through marketing strategies will help to grow that base.
Your marketing strategies should be developed to help establish better connections with your audience. Companies that are focused on building and maintaining a loyal customer base, and actively engage with customers, are more successful. A well-executed customer engagement strategy can foster brand growth and loyal customers.
The key is to focus on value creation rather than revenue extraction. Assess your potential customers’ needs to enhance customer engagement. Develop a deep understanding of customers in order to anticipate their needs. [Read more…]