Over the next five weeks, I will take you through one of the most important issues as a business owner: brand online advocacy.
Today, we address the issue of getting your online store out there, reaching into people’s homes and keeping them with you.
You’ve probably worked hard to get an online presence with a cracking website, but now what? What happens if no-one knows those great ideas you have?
The first step is not to ditch old customers over new ones. Customer retention is king – it can cost up to five times more to attract new customers, but only a five to 20 percent chance of them buying. An old customer is 60-70 percent more likely to buy.
So it’s top priority to give customers a reason to come back and make them your biggest fans. The important thing is to make them your promotion beacons: by word-of-mouth advertising.
This may well be an age-old stroke of luck, but in the digital age, such word-of-mouth promotion is free, important, effective and fast.
You’ll find word-of-mouth marketing brings in reliable income, extra traffic and new customers who are more likely to buy on the back of good customer reviews. They will also trust friends’ judgements to get a better idea of a product.
By utilizing customers to spread the ‘trust’ of a product through word-of-mouth, you’re keeping your costs low, your marketing campaign alive and the potential for newly ‘converted’ customers high as they arrive to your site.