On a recent flight to visit some family I picked up the courtesy copy of the in-flight magazine, which was nestled neatly beside my air-sickness pouch and the emergency procedure pamphlet. Since SOMEONE had borrowed my iPod charger and I didn’t get a chance to stop at the overpriced magazine counter, I would have to just bear the overpriced luxury items available for purchase on the plane and the insipid articles about Family Circus…don’t even get me started. Somewhere between the crusty pages lay something that actually provoked some thought. Luckily it came in the form of a simple one-page advertisement because, as anyone who knows me will tell you, I have the attention span of a gnat. I can’t remember who the ad was for (that’s a subject we’ll talk about in a later blog), but it simply said it costs 7 to 9 times more money to acquire a new client than to retain an existing one.
SEVEN TO NINE TIMES!
Think about the impact this could have on your advertising and marketing plan! So many business owners come to us wanting to attract larger crowds to their store, or bring clients in from the competition and, naturally, it’s how they are gearing their advertising. How about investing a portion of that advertising into your current client base…people who already know and love your business and products? They’ve already been sold on your company, they come into your store frequently and all you have to do now is get them to buy more! That’s yet another reason why every ad you produce should promote the brand…ALWAYS. You’re not only building a reputation for new clients, but also reinforcing your existing ones that they have made the right decision in coming to you.