During last few weeks I have noticed a ratcheting up of inbound direct mail (postal and email) coming to me from companies that I had bought from in the past. It ranged from Lowes and the Sunglass Hut sending me $50 off coupons for purchases over $200 to Omaha Steaks and 1800 Flowers emailing me great deals for Mothers and Fathers Day.
Marketing to current or past customers is always smart, but even smarter during a recession. Acquiring new customers can be a very expensive but necessary operation. When funds are tight nimble companies tweak the balance between retention and acquisition. By mining your customer database you can target past customers who will be more receptive to your messages. Keep in mind most consumers are cutting back and trying to spend wiser. A good deal from a familiar voice can get them to open their wallets. It is always easier to convince someone to buy again rather than for the first time.
Customer retention is even more powerful when paired with content marketing to build stronger relationships with customers who will see you as a trusted information resource. This content can take the shape of custom magazines or magalogs, newsletters or webcasts. Even face to face events for current customers could deliver a solid return.
How are you balancing your acquisition and retention efforts? Do your customers see you as a trusted source of information or just someone trying to sell them something?
A content rich custom media customer retention program may be your best bet during trying economic times.

