Many startups will focus on marketing and product development, but savvy entrepreneurs and small businesses often knowing just how important reputation is as well. Regardless of size, a company that understands this early on will experience less friction with their marketing and growth when they embrace a marketing strategy that builds equity for future endeavors.
Businesses often think growth is mostly about new customers, but in some ways this couldn’t be further from the truth. While acquisition is important, managing churn isn’t to be overlooked. Customers shouldn’t be a revolving door. Managing the customer experience reduces the defection rate, encourages repeat purchases, loyalty, and less significantly less costly than acquiring new customers.
From the moment first moment of engagement with your business, the customer experience begins, from what’s read online in reviews, articles and social media to any interactions that occur with your brand or business that may occur. The customer experience also influences the perception of a brand, its reputation, and word of mouth referrals.