Winning new business is key, but maintaining your existing client relationships can be even more valuable, especially if you're dealing in goods are services that have strong add-on potential, or cater to recurring needs.
As such, considering your customer lifetime value (CLV) is an important element in any effective marketing plan. It's not just the latest, shiny addition that you want to raise awareness off, but you also want to build brand community, by providing direct connection and conversation options, which can turn your brand fans into true advocates.
Which is a key value proposition of social media. Social platforms give everybody a voice, and a means to be heard, at any time, and about anything. The brands that win out in social are those that are listening to such, and are attuned to customer needs.
By maintaining these relationships, and building on them over time, social media also provides an avenue for those customers to amplify your messaging within their own networks, which now reach far further than they have in times past.
There can be huge value in this - as outlined in this new infographic from the team at GetVOIP. They illustrate various ways you can improve your CLV with examples from brands that have done just that.
Worth considering in your process.