Social Media – Risk of Not Investing 4: Customer Churn

/Originally posted on Medium

It is a well known fact that the cost of acquiring a new client is much more than the cost of retaining an existing one. When you choose to not use Social Media for your brand, you potentially face a great cost: customer churn.

Like any good relationship, communication is key. The relationship between you and your existing client is susceptible to multiple distractions. Maintaining a genuine conversation via Social Media keeps your client connected to your brand and your product.

Chances are, your client would rather deal with someone that pays attention to them.

While your customers are in your store, at your event or receiving your service, maintaining a conversation is a lot easier. But how do you keep the conversation going once they’ve left?

No claims can be made to state that your customers will leave if you’re not on Social Media. But ask yourself this question: If every purchase you’ve ever made was from a silent vending machine, would it really matter where you purchase from? You want your customers to care where they purchase from, because you want them to care that its you they’re purchasing from.

In the marketplace, silence is definitely not golden.

> Engage, Grow, Repeat >