It’s no secret that growing a small business is tough – especially when the entire operation can be defined as a “one-person shop.” You’re already involved in every step of the process—from creating your products to shipping them, and everything in between.
For the majority of small business owners, doing it all is a massive challenge. More than half report that they are too busy getting work done to focus on selling their products. (FreshBooks)
That’s a major dilemma. How can any business expect to see revenue growth without a solid marketing strategy in place? In today’s world, targeted marketing is more important than ever. Consumers are “always on” and stumble across millions of pieces of content each day. In order to see growth, it’s crucial that business owners make their products stand out.
But, what do you do when you don’t have the resources to build out an extensive marketing operation? You focus on the customers you already have. That’s right. Driving repeat business from your existing customers is a fundamental key to growing your business.
Building a loyal following will drive more purchases, generate higher order values, and inspire new customers to join your community.
This guide will analyze the four core principles that drive loyalty, explain how to leverage existing data to build personalization, and illustrate key marketing strategies you can start implementing today.
Acquiring a new customer is anywhere from five to 25 times more expensive than retaining the ones you already have. (HBR)
Repeat customers spend more. The typical online store gets 43% of its revenue from repeat customers. (BigCommerce)
The content they’ll create on your behalf will inspire new customers to take action: User-generated content (reviews, social posts, recommendations) officially outranks other forms of marketing. Nine out of 10 consumers trust what other consumers say when making their own purchase decisions. (TurnTo)