It’s funny how a couple casual cold ones with a friend can turn into fuel for this here blog.
A few Fridays ago, I met up with a pal for a pit stop close to the home front. Being a Friday afternoon, the corner pub was its usual busy self, but on this particular end-of-week stop, all eyes were on a table full of 20-somethings and early 30-somethings who, judging by the rowdy celebration (not to mention quantity of booze consumed), were celebrating landing a big client or account.
Anyone whose livelihood is tied to sales should be able to identify with these guys. The crushing hangover that had to follow that Saturday morning, though, is optional.
The importance pretty much any company puts on new business is immeasurable, from the CFO making sense out of spreadsheets and percentages to the corporate salesperson whose fate lies in those numbers their bosses are looking over. New business is paramount, putting it mildly, to companies of all sizes, shapes and forms.
Leverage is hardly immune to this mindset. Like any business of any size, our annual goal isn’t solely to keep the lights on and our staff paid: we want to prosper and grow, both fiscally and in terms of innovation, at a steady clip. We are also elated when our hard work results in a new client and, on the other side of the coin, have been dealt our fair share of blows in terms of missed opportunities.
Yet to continue to thrive, we at Leverage are just as concerned about maintaining our relationships with the clients who have rewarded us with their business. That means continuous evolution of their online marketing strategies, with the end result being further success – and profit – in their online endeavors as well as continued satisfaction with our work.
For our clients, this means retaining their customers or clients. Once they have established their relationships with their base, continuing and expanding upon those relations is crucial. While this is a long-term and continuously evolving process for all parties involved, the cost to our clients to retarget their customers is, compared to the cost of establishing the relationship in the beginning, much lower, and the practice is as, if not, more rewarding long-term than bringing them into the fold the first time. We all know how significant the lifetime value of a client is. Retargeting keeps customers in the loop and makes the rewards of customer lifetime value a reality.
There are many approaches to site retargeting for an online client base, but three proven methods immediately come to mind:
- Using marketing automation to trigger customized e-mail retargeting based on the browsing and purchasing behavior of customers.
- Using paid search to retarget current customers with ads based on items they have viewed.
- Using an e-mail database to trigger ads in social media news feeds based on the clients’ interests.
- Remarketing solutions generally produces between 25%-40% more sales revenue than targeting new clients.
To me, the ability to be a company that continues to dazzle our clients by retargeting their proven customers with unique and profitable solutions is as satisfying and worth celebrating – be it with a Budweiser, bourbon or Barq’s root beer in hand – as that first success. First time clients are exciting, but repeat customers are what keep you in business. Are you ready to start reaching out to your customers? Contact us today for a FREE evaluation on your digital marketing strategy and learn how retargeting can benefit your business!