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Five Small Business Marketing and Retention Trends and ideas for 2017

by Jenny Beightol  |  
November 15, 2016
  |  3,979 views

Traffic, acquisition, and sales have always been critical priorities for marketers. Yet customer retention also plays a key role—but is too often neglected.

Interestingly, only 49% of small business owners have a customer loyalty or other retention plan in place, according to a Belly survey related to current small business marketing and retention activities. The 429 businesses surveyed represent a range of industries, and they use various marketing tools and solutions.

Here, I'm going to share five findings with the biggest impact for small businesses. I'll also share relevant marketing approaches to help you reach your growth and revenue goals.

1. 72% plan to allocate most of their marketing budget to customer acquisition

This finding was surprising, considering it costs up to five times more to acquire a new customer than it does to keep one.


Only 28% of merchants surveyed said they were putting most of their budget into customer retention. This is a huge miss according to brand influencer Tamara McCleary, who says existing customers are 50% more likely to try a new product or service from someone they've done business with in the past.

So, how can marketers and business owners drive acquisition without sacrificing retention?

Consider the processes and teams already within your organization. Optimize customer service and experience with upsells that improve the overall buying experience.


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Jenny Beightol is director of words and reputation at customer loyalty program Belly.

LinkedIn: Jennifer Beightol

Twitter: @jRoseBeezy

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Comments

  • by Sam Priestly Wed Nov 16, 2016 via web

    Hey Jenny, proactive customer support emails and timely customer feedback surveys can be much helpful in customer retention.

  • by Pavithra@SnappyScript Wed Nov 16, 2016 via web

    Hi Jenny,

    I totally agree with these words."Before hiring a full-time marketer, business owners should be marketing their business so it can grow."

    With all these social media and online marketing, any person can start marketing his or her business easily as there are a lot of free resources you can find on the internet and all these platforms are user-friendly. It may not as effective as hiring a professional marketer but you can use such practices to promote your business until you are able to hire a real marketer for your business.

    Thank you so much, for sharing this valuable post.

  • by Laura Wed Aug 30, 2017 via web

    Any good marketer knows to keep an eye on the future to stay ahead of the curve on new trends, emerging marketing channels, and other fresh ideas to deliver brand messages. One more idea is to promote your small business with content marketing! I am sure you have heard about it. So feel free to read an article here https://searcheva.org/small-business-content-marketing/

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