Your existing customers are gold. They’ve already voted to spend their time and money with you, or on your product or service, and this is no small thing. No matter how wonderful you think you are, no matter how great your product or service is, or whether it’s without a doubt the best there is, your customers usually have many, many other options. Options not just in terms of your competition, but in terms of not purchasing that product or service at all. In a world of endless products, noise, promotion and global markets, the fact they chose your thing is rather something, and no matter how big or small you are, gone are the days when you could get away with thinking that providing your customers with what they paid for was all you owed them.
Sure, there are product and service categories, indeed whole industries that are characterised by highly transactional, commodity-type markets where on face value you could be forgiven for thinking deep customer loyalty, engagement and community are not necessary. But I would argue it’s just as important. Ok so maybe we’re not talking about group hugs and exclusive membership programmes for some sectors, but solid, reliable customer service goes a long, long way, especially when you’re trying to differentiate somewhat generic products in a price-sensitive market. The loyalty you foster in your existing customers might just be the thing that sets you apart and affords your brand the longevity your competition lacks.
Here are 7 reasons that your existing customers should be your number 1 marketing priority;
1. Because your existing customers hold the key to getting more like them. The way they think, the reason they choose your brand, the problem your brand solves for them, or the desire it satisfies, is all stuff you need to know and your existing customers are THE people to tell you. Understanding your existing customers even better than they understand themselves is the way you find more customers like them. Gold.
2. Because your customers can tell you what else they want or what you could be doing better, how to make them happier, what additional products or services they’d love you to create, you have an enormous opportunity to respond to exactly what they ask for. Don’t follow the market. Responding directly to your own customers is how you become a market leader … but you need customers to do that.
3. Because your customers actually want to engage. Meaningful engagement leads to trust and loyalty, which is not only very hard for your competitors to compete with, but because people want their choices to reflect their values, it turns out they’re ever so willing to be loyal and trusting in exchange for that. It’s a basic human need.
4. Because through that dialogue and engagement and making your customers feel like they’re really cared about, they get to know the personality and the meaning behind the brand and that takes you from being known about to being loved. Again, gold.
5. Because your existing customers are the ones who are going to tell their friends. Treat them like royalty and they’ll do your marketing for you in the most powerful, trusted and resonating way possible. Remember word-of-mouth? Well, nothing’s changed - it’s still the holy grail. When your customers do your marketing for you, they’ve gone beyond customers and have become advocates. Gold with diamonds.
6. Because your existing customers are not only your customers today, but by the way you make them feel, they’re highly likely to also be your customers well into the future where every contact they have with your brand continues to nourish a legitimate relationship. Gold.
7. Because it’s your existing customers, that through trust, loyalty and sharing, become your community, your tribe, and that in itself is a magnetic force for attracting new customers, followers and advocates.
The way I see it, your existing customers are without a doubt your number one marketing priority and that’s because at the heart of each of the 7 points above, are basic human needs that always come before and underlie any business plan, strategy or transaction. Business is about human relationships and it’s only through nurturing the existing relationships that we can attract more of the same.
Don’t ignore the people who’ve already given you their time and money while you scout the masses for more traffic, more conversions, more customers, more sales. Start with the gold you’ve already got because in doing so you increase the longterm value of your customers and expand the intrinsic value of your brand. This inside-out approach is the bedrock of any good marketing strategy and massively contributes to your results and growth into the future being much, much more reliable, not to mention more meaningful.
Photo credit: "First customers" by Stavos via Flickr