How To Get New Customers and Retain Them

Keep The Consumer Happy

Happy Customers are Key. Getty Images

It is said that it costs between 4 to 10 times more money to acquire a new customer than it does to retain one, so it goes without saying that a great retention plan should be a major part of your business. But it's important to remember that there are two main ways to speak to customers, and both should work hand-in-hand to keep your business booming.

What is Customer Acquisition?

Everything done to bring a customer to the fold, be it a new product or service, or even a free trial, is done under the acquisition umbrella.

From the little samples you hand out in grocery stores, to full-blown billboards and multi-million dollar TV campaigns, this is where you spend money get a customer.

What is Customer Retention?

This is the marketing and advertising you do to keep customers. It can be freebies, events, mailing packs, phone calls or simply letting them skip a month on their mortgage or car payment. Customer retention is vital, and without it, your business can be throwing money away every second. 

Both of these methods are important, and vital. And if you follow the advice in the following articles, you will be well on your way to attracting new customers, and keeping them around.

Consumers Love New, Even When It's Old

One of my university tutors was a really savvy old guy who had worked in some of the more established shops in London. And throughout each gig, he said one thing remained constant - consumers are suckers for something different, but not necessarily new.

A little cryptic? Let me explain.

For centuries, bread was bread. It came in loaves, you cut it into slices, and that was that. But then, in 1930, Wonder Bread began selling something amazing - sliced bread. (History books do say that Otto Rohwedder is the true inventor, but Wonder Bread brought it to the masses).

 Read more here.

It's Easier to Change Consumer Behavior than Fundamental Beliefs

Advertising agencies across the world have this one problem in common; they are tasked by their clients to change the beliefs of consumers. And that is an almost impossible hill to climb.

But changing behavior, that's relatively easy in comparison.

Unfortunately, the lines between the two are blurred and many creatives, planners and strategists try to launch a campaign hell-bent on changing beliefs. This is almost certainly doomed to failure.
Read more here.

Don't Ever Acquire Customers Using Bait-And-Switch

You may have heard the phrase "bait-and-switch" many times in your career. It's something consumers throw out there often, and most of the time they really don't understand the true ramifications of bait-and-switch advertising. When advertisers use deceptive bait-and-switch advertising in its true form, they can be prosecuted. The practice is illegal and carries stiff penalties. But quite often, the consumer confuses this practice with something more akin to a printing error or misunderstanding of the term. (Read more about Consumer Behavior Consumer Behavior).

Here then, to avoid any further confusion from either the consumer or the advertiser, is a guide to bait-and-switch advertising.

 Read more here

It's Often Better to be Very Straightforward

Smart, creative advertising is sadly lacking in the industry. It's tough to put a number on it, but it's probably correct to say that less than 10% of all the advertising produced is genuinely clever, creative and inspiring.

But it's also true to say that while being trite and cliché is unacceptable, it's also a waste of time, energy and resources to overthink a project. Sadly, all too often creatives and ad agencies will let their egos get in the way and refuse to do something simple and effective. And being overly clever, well that's almost as bad as being hackneyed. Read more here.

Use Quick and Easy Incentives to Attract Customers

You've got a product listed at the same price as your competitor. So how's a customer going to decide which company to go with?

You need customers now but you've waited until the last minute to start an advertising campaign. How are you going to get customers at such a late date?

One word: perks. Use these perks to help you turn a potential customer into a paying customer. Read more here.