The cost of acquiring new customers is “typically three to six times that of retaining existing ones,” says Lawrence Friedman in his book The Channel Advantage. According to Bain & Company, just a 5% increase in your customer retention rates will increase your average lifetime profits per customer.
With those kinds of numbers, there are clear advantages in keeping your existing customers loyal and staying with you or coming back for new purchases.
But in today’s environment, customers are looking to save money. And if they can’t do that with your services or products, they’ll go somewhere where they can. And with the Web it is much easier to find your competitors and buy from them.
One solution: offering customer coupons and incentives to reward loyalty. That is what we will explore in the free webinar, “Keep Current Customers Loyal: Offer Coupons/Incentives and Do It Right To Generate Buzz”.
We’ll go a step further and will discuss how to amplify your message and create buzz, using today’s social media.
During this live webinar presentation you’ll learn about:
- Coupon trends — including the growth of online coupons, and how they compare with printed coupons and loyalty programs
- Ways to distribute coupons — we’ll look at the different methods of getting your coupons and incentives out to your market
- How to spread word of discounts, including the use of social media sites such as Twitter, Facebook, Yelp and Foursquare
- How to get others to spread the word — empowering and encouraging satisfied customers to become your advocates to spread word of mouth
Please join us for this free event — here are the details:
When: April 7, 2010 at 2:00pm EDT
Where: This is an online webinar so you can participate from the comfort of your own office and computer. Just log in and
Register: Sign up now to attend.
Archives: This event will be archived for later viewing, if you can’t make the live event.
At the time of the event, you can also follow along on Twitter with the hashtag #SMBTOOLS.
* This event is presented by the Verizon Small Business Center.*