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One of the most critical areas for brands to audit is the cost of acquiring new customers compared to the cost of retaining existing customers. According to Shopify’s latest Future of Ecommerce report, “it’s becoming tougher to get a decent return on advertising spend, with the cost per click for paid search ads increasing by 15%.” Similarly, garnering organic traffic has become increasingly challenging, making attracting new customers more complicated and costly.
The most untapped method to grow your Direct to Customer (DTC) brand is with an exceptional customer experience and post-sales strategy. Nurturing your existing customers extends lifetime value and accelerates the likelihood of customers sharing the love with friends and family, causing a compounding brand affinity effect.
Given today’s crowded digital landscape, inflation and the increasing cost of customer acquisition, it only makes sense for brands to double down on their existing customers and go above and beyond to nurture that relationship.
Related: 10 Customer Retention Strategies That Supercharge Your Marketing
Focus on your customer’s wants and needs
The foundation of a healthy post-sale strategy is to deeply understand who your customer is, what roadblocks they face and what they aim to achieve. “The need to focus on your customer may sound like a given, but consider how easily a competitive focus can supplant customer needs if this mindset is not core to every decision,” explains Ben Downey, COO of Smartrr.
Instead of making the costly mistake of fixating on competitors, I strongly urge DTC brands to immerse themselves into their customers’ world, focusing on how they can fill essential gaps. Not only will this keep you apprised on how to meet their evolving needs, but it will also cause you to become the leader in developing innovative solutions.
Speak your customer’s language
Just as people don’t buy the plane ticket…
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