Every business leader recognizes that putting customers first is important. But, what you might not know is just how valuable that mentality could be for your business. Here are few statistics to put its importance into perspective:
- It costs 5x as much to attract a new customer than it does to keep an existing one.
- On average, loyal customers are worth up to 10 times as much as their first purchase.
- A 5% increase in customer retention can lead to a 25% increase in profits for your company (whether it be through up-sells, repurchases, or even referrals).
But, when we think of putting customers first, we typically think of our services team or client support team. The reality is that your marketing efforts can (and should) play a significant role in putting your customers first.
Marketing’s Role in Putting Your Customers First
How can marketing efforts impact your customers’ experience and support your goal of putting customers first? Here are five specific ideas:
- Make the customer part of the brand. Part of your brand’s story is that you help people achieve a certain outcome. Why not celebrate the customers who are actually experiencing the transformation you’re helping people solve. By highlighting the various ways your brand has helped someone achieve success (case studies, interviews, trade show presentations, etc.), you’re able to position them as the hero of the story. People love feeling like a hero.
- Invite customers to join a tribe of peers. The best brands make their customers believe they are part of something bigger than themselves. As Seth Godin once said, “People do not buy goods and services. They buy relations, stories, and magic.” Inviting your customers to join something that feels bigger than themselves is a great way to strengthen their connection to your brand.
- Be proactive about communicating company changes. No one likes to be surprised, especially customers who are paying money to keep your business running. If you’re planning on a significant change, whether it directly impacts your customers’ experience or not, don’t neglect the importance of proactive communication.
- Provides insights on the changes in your industry. Many industries have evolved rapidly over the past decade. It can be hard for our customers to keep up with all the latest trends and shifts. By helping your customers navigate the changes within your industry—even if the changes are not specifically related to your product or service—you’re positioning your brand as a guide they can trust.
- Look for ways to surprise and delight customers. You never want your customers to feel like you’re taking them for granted. One way to avoid this is by intentionally looking for ways to surprise and delight them. If you want to create raving fans of your brand, determine how marketing can play a role in making sure they know you truly care about them, not just their business.
Being customer-focused isn’t just a platitude business leaders say—it can revolutionize the profitability of your business. My hope is that these five ideas will spark some new opportunities for how marketing plays a direct role in putting customers first.