Who Should You Target? New or Current Customers

When planning out your next marketing campaign, the most important question you should ask is who are we targeting? Are we targeting new customers or are we focusing on our current customer base? This one question will shape your message and design, which platforms you use, and what you offer your audience. 

Everyone knows it’s important to pursue new customers, but not everyone takes into account new customers will require more from your marketing campaign than your current customers. As you plan out your next campaign, keep in mind that new customers will require more time, take a greater financial investment, and can be easily lost. 

1. More Time

New customers will take a great deal more time to win over than your regular customers. They may be learning about your brand for the very first time, or they may be familiar with your brand but be unclear about who you are and what you offer. Either way, you will need to spend time introducing yourself to them and how you can help them. This will take multiple interactions over a period of time, so be patient when pursing new clients. 

2. Greater Investment

Winning new clients will take a greater financial investment than marketing to your current customers. This is due to to the number of times you will need to get your message in front of them before they decide to try out your company. The more marketing channels and methods you use, the stronger your brand and messaging will be. Your financial investment will also be higher because it takes a while to earn new customers’ trust. 

3. Easily Lost 

Considering your new clients will have little to no history with you and your company, their loyalty can be easily lost. It’s important to create clear communication and next steps. Make sure your first interactions with them are friendly and clearly show how your company is unique. Even if the new customer has decided to make a purchase, they will still be forming opinions during their first transactions, so handle every interaction with care. 

Targeting new customers with your next campaign will require more from you and your team, but it’s a great way to grow your business. Introducing new people to your business is always exciting, and every new customer has their own network of friends, family, and coworkers they could introduce to your brand as well. 

Though new customers may require more time and money, half the battle is targeting the right people. By using data analytics, you can identify potential new customers who look just like your best customers. Starting with the right target audience will increase your response rates and ultimately your ROI.

In our next article, we will look at the benefits of targeting your current customer base. 

Connect with us for more information about analytic marketing and how we can help you target the right people.