Impact Media Corporation, a marketing firm in Oklahoma City, OK, has released a new free Wi-Fi marketing service to help increase customer retention for businesses nationwide. By offering loyalty rewards to customers who log in to the Wi-Fi network, businesses have a larger chance of turning one time shoppers into loyal, returning customers.
Julia August from Impact Media Corporation says, "Existing customers are worth more to a business's bottom line than new ones. If they like what you have to offer, they will return time and again to give you their money. While we appreciate every customer, the fact remains, a one-and-done customer has a short-term value."
Her comments should come as no surprise. A recent Gartner Group study demonstrated that the 80% of the future revenue of a company will be created by just 20% of their existing customers. This was reiterated by Bain & Company, who stated that profits can be increased by between 25% and 95% by increasing customer retention rates by just 5%. This figure was so important that it was featured in an article by Forbes.
"A business owner would be smart to find a way to engage with the customers they already have to persuade them to return time and again," adds Julia August. "If you can nurture those existing relationships, your revenue will increase. Your loyal customers become your acquisition agents and your customer base grows while lowering your CPA. Win. Win. Win.'
"Impact Media helps businesses reactivate customers. We gather valuable information they already share with their network of friends, and then reach out to them again offering timely news, offers and updates. In exchange, they come back to spend more money. It's an engaging loyalty program that is more personal than carrying an ID card in their wallet. It engages customers in a manner that fits our culture -- all while utilizing something the businesses are already giving away."
Based on recent studies, the eConsultancy report stated 82% of companies feel that acquisitions are more expensive than retention. Bain & Company also stated that attracting new customers is up to seven times more expensive than retaining existing ones. Julia August adds, "These marketing platforms used by billion dollar corporations are now available to every establishment regardless of size. We now have the ability to help a business owner effectively build their bottom line and lower their cost per acquisition -- all without breaking the bank."
Impact Media Corporation clients are building loyal customer networks using social powered Wi-Fi. Further details can be found on their website on www.impactmediaokc.com.
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Contact Impact Media Corporation:
Julia August
405-517-3740
julia@impactmediaokc.com
10105 St Helens Drive Yukon, OK 73099
