Overview

This article explores the concept of customer marketing, emphasizing its importance for retention, loyalty, advocacy, growth, and community participation among current customers. It differentiates customer marketing from acquisition marketing and highlights the benefits of focusing on existing customer relationships.

Information

What is Customer Marketing?

Customer marketing is built around activities designed to drive current customers' retention, loyalty, advocacy, growth, and community participation. The strategy, which differs from marketing to acquiring new customers, relies heavily on maximizing strong customer relationships.

Why Is Customer Marketing Important?

Customer retention is critical to your company’s bottom line. According to Marketing Metrics, the probability of selling to an existing customer is 60% to 70%, while the chance of selling to a prospective customer is 5% to 20%. Other benefits of customer marketing are greater product adoption, up-selling and cross-selling opportunities. If handled correctly, the relationship can blossom into an opportunity for increased retention and customers to become advocates.