Old Customers or New? Which should be given more attention?

Old Customers or New: Which should be given more attention

“Make new friends but keep the old ones.”

New customers or not, you should give more attention to all of your customers. Why? Customers are the bread and butter of every business.

Yes, attracting new customers is more expensive than keeping the existing once. But I’m not saying you don’t need to go out and maximize your efforts and resources to get them. Having new customers mean an opportunity for you to turn them into long-term customers.

Let me show you why keeping attention to both new and old customers can benefit your business.

Old customers allows you to;

  1. Understand your customers needs and wants. This will help you sell more because you’ve identified the opportunities on how to sell them based on their needs.
  2. Create your ideal customer profile (ICP) that can help you find new customers fast. All you need to do is just look for similar prospects and sell to them using the same technique as what you did to your old customer.
  3. Knowing what your customers needs and wants helps you provide better customer service by identifying common problems and learning how to solve it.
  4. Having a targeted prospects allows you to predict their timeframe to purchase and what to buy from you. This allows you to create strategies on how to increase your sales during lean months.

Related: How to Get Targeted Business List in Singapore with the Help of Outsourced Lead Gen Company?

On the other hand, consistently having new customers help you grow your business. Build relationships with them and turn them into long-term customers which can be a good source of revenue every month.

Whether you like it or not, old customers can come and go. When the time comes that one of your old customers will decide not to buy or do business with you for a while, your revenue won’t suffer because new customers are coming in to replace them. This can help increase your sales.

So how can you retain customers and attract new ones?

Make use of social media to your advantage

Social Media

Old clients

Social media accounts let you build relationship with existing customers (even to new customers). You can engage and communicate with your customers through your social media accounts.

New clients

Having social media accounts – Facebook, Twitter, Instagram, etc allows you to reach your to a wider audience. It helps increase brand exposure of your brand and company.

Related: The Three-Step Guide to Better Customer Retention in Singapore

 

Have 24/7 customer service (voice or chat support)

Customer Service

Old clients

Having someone to answer your prospects concerns that can help them resolve their issue is one way of providing a good customer service.

New clients

Calling someone to answer inquiries and questions that could help them make a decision to purchase is a good way to increase your sales.

Related: Keeping Sales Leads Through Stellar Customer Experience

 

Provide good customer experience

Customer Experience

Old clients

Customers who experienced good customer service are more likely to become loyal and long-term customers. It’ll be easier for you to ask a good feedback to publish in your website or refer you to their family and friends.

New clients

Prospects are looking for a good feedback before they decide what product to buy or who to do business with.

Related: The Strategic Marketing of Using Events to Improve Customer Loyalty

 

Existing customers are loyal and happy customers. They are the ones who buy or upgrade to a new service. New customers can help grow your business and bring your company to the next level. Both are essential to your business.

 

 

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