Question

In: Operations Management

Do you believe marketing efforts should be to maintain a relationship with current customers or new...

Do you believe marketing efforts should be to maintain a relationship with current customers or new customers? Why?

Solutions

Expert Solution

Answer:

Yes, marketing efforts are help to maintain a relationship with current customers or new customers

Building the network, means your business colleagues, professional acquaintances, prospective and existing customers, partners, suppliers, contractors and association members. Contacts are potential customers waiting for you to connect with their needs. How do you turn networks of contacts into customers?

New contacts know you've added them to your newsletter list and then send them the latest copy. Immediately reinforce who you are, what you do and the connection you've made.

E-mail marketing keeps relationships. Build your reputation as an expert by giving away some free insight. E-mail marketing is a cost-effective and easy way to stay on customers' minds, build their confidence in your expertise, and retain them.

Reward loyal customers. On an average, repeat customers spend 67 percent more than new customers. So your most profitable customers are repeat customers

Use of social media marketing to connect with existing & potential customer


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