Customer acquisition and retention are two major things that people should consider in equal measure. Many businesses focus so much on acquiring new customers to the extent of forgetting about retaining the ones they have. This is counterproductive because it is easier to sell to existing customers than new ones. This post will give you crucial tips on how you can equally practice customer acquisition and retention.

Keep a strong presence in social media

You need to be proactive in social media because this is where billions of people spend most of their free time. You can attract a lot of customers in social media depending on your marketing approach. Create a social media page that grabs the attention of users. Post regularly and be there to comment on customer questions. If a problem arises, be the first one to acknowledge the mistake and advise the customer on how he or she can fix it. This way, you will not only be attracting new customers, but you will also be retaining them through exemplary customer service.

Don’t misread your customers

The last thing you want to do when attracting and keeping customers is misunderstanding them. Misinterpreting how customers think can mislead you in identifying specific customer needs and behaviors. This can lead the business in the wrong direction. To avoid such scenarios, you need to focus more on how the customers behave rather what you have found out about them on a prediction in a demographic statistic report. You can use web analytic tools to help you know how the customers shop online. This will allow you to better understand and predict their behavior in the future.

Run promotions

Promotions and discounts are viable ways to retain customers and attract new ones. When you organize a promotion, you are simply telling your existing customers that you value them and that you are willing to gift them for their continuous engagement. Promotions often go well with existing customers, and build strong bonds and loyalty. They feel happier with what you are doing. A happier customer will always be willing to share his or her experience with friends and colleagues. A customer who shares about your business will most likely bring new people on board.

Host events

Hosting events gives you an opportunity to interact with new people. Events will give you a good platform to popularize your business and establish a stronger market presence. Holding a seminar or a meet up for you industry also makes your business stand out as a driver for new ideas. You can organize a wide range of events that run from hours to days depending on your financial capacity. For example, a corporate event is likely to run for a day or two since it is more intense and has a larger capacity compared to other events. You can also get in touch with another company to hold a joint event to reduce the costs. It is wise to hire a professional event organizer to help you put things in order for the big occasion.

Offer incentives for referrals

Come up with a program that gifts your current customers whenever they refer new people to the business. The gifts can be in the form of free shopping, reduced prices or giveaways. Through incentives, you will be creating new relationships while at the same time maintaining the ones you have. You have to impress the new clients you get with an amazing experience. The experience should be something memorable so that when you approach them in the future, they will be more than willing to listen and create additional engagements with you.