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How effective are you at retaining customers, donors, volunteers, Twitter followers and Facebook friends? Are you investing huge amounts of time, energy and resource on new acquisitions only to find your “customers” are leaving you at an alarming rate?
If your attrition rate is high, take a moment to think about how you are segmenting your customers – after you have acquired them. Market segmentation isn’t just a strategy for acquiring new customers; it’s also an effective way to retain the customers you have.
In my sales, fundraising, community service and social media marketing experience, I have found it far easier to acquire new customers than it is to retain them. Once you have them, retaining customers takes effort. You want them to remain as loyal customers and brand advocates, repeat donors and volunteers, and as part of your social media fan base.
You retain customers by engaging them – as individuals. By making them feel special. By anticipating their unique needs and responding to their concerns. By valuing and respecting them. By developing and sustaining a relationship with them. By marketing to each customer as a segment of one.
Now think of your experience with the brands you are passionate about. Are you a segment of one?