Embracing your existing fans and followers is a great way to increase your brand engagement and revenue. Although it isn’t as sexy as acquiring new customers, studies show that keeping old customers is a more lucrative focus.
It’s so effective that companies that prioritize the customer experience generate 60% higher profits than competition. But that experience cannot be limited to the moment in which they buy from you. Instead, you need to focus on building and nurturing the relationship over the course of the entire customer experience.
When you focus on your customers, you have an opportunity to turn fans into raving advocates. Brand advocates will go to the rooftops and tell your brands story while also sharing the value that you have delivered. In doing so, you essentially are able to build and develop a mini-military of customers who act as marketers for your brand. And we all know that people are more likely to buy from brands that are referred to them from people they know and trust.
But what do these people look like? Who are your current fans and what are they doing on social media? Our platform offers the demographic and psychographics insights that help you answer these questions.
It’s more important than ever to be connected to your existing customers. As competition continues to increase rapidly, brands and organizations need to recognize the value their existing customers have in the grand scheme of things. Social media presents businesses with an opportunity to build their customer relationships like never before. Whether it’s a simple “favourite” on Twitter or a response to a question they’ve asked on social media, a simple response could be the difference between a life time customer and a one tweet stand.
In the meantime, the folks at ReachLocal have put together this insightful infographic to show the seven types of fans and followers you’ll encounter on social media: