Holdcom recently attended a webinar that presented an ongoing case study centered on a successful global company that used banner ads and social media to acquire additional customers. This company spent close to $220 dollars per new customer, and their goal was to acquire 3,000 new clients.
That is over $600,000 dollars in acquisition costs alone. And that’s just the start of the expenses.
As we discussed in a previous blog entry, spreading word-of- mouth about your brand and attracting interest is the easy part; the challenge is what you do once you “break through the clutter.” The aforementioned company was proactive – but what about their infrastructure? Did their budget include increasing their support, customer service, expanding certain departments, and making sure that their long-term clients weren’t neglected?
Those questions were glossed over in the case study, since many marketers only focus on growth, and not enough on maintenance. Protecting the back end, the foundation of your company, is what generates raving fans – your new customers need to see exceptional testimonials to trust your brand. And since 78% of online consumers value peer reviews more than company advertisements, your first impression is the long-lasting impression.
This dual nature of marketing – bolstering your infrastructure while reaching out to new customers – is perfectly captured by Message on Hold (MOH). New customers acclimate to your business through a reliable, easily-navigated IVR system, while frequent visitors already know how to progress. On the marketing front, MOH can serve multiple functions, either as an outlet for advertising, customer service, or distributing important information/updates.
So before you embark on new prospects, make sure the lifeline to your customer base is well established!