Does your business have trouble retaining customers? If so, you’re not alone. With the rise of the internet, businesses are working much harder to keep their customers from straying down the street to a competitor they found on Google or Yelp.
It’s widely known that acquiring a new customer can cost up to 5 times as much as retaining a customer. So where can you find these loyal customers? And how can you ensure that more of them come to your doorstep?
Here’s 4 reasons why veterans make great customers:
1. They’re loyal. Camaraderie and loyalty are two notable values instilled in veterans – this was evident the day these men and women enlisted and pledged their loyalty to our country. They continue to demonstrate this trait after transitioning to civilian life, and the concepts of loyalty and mutual trust appear in their relationships with businesses as well. When veterans find businesses they like and trust, they honor the business by demonstrating loyalty to the brand.
2. They’re respected. Being a military-friendly company doesn’t just increase your brand perception from veterans. It also generates a great response from civilians. According to a Bob Woodruff Foundation report, 88% of Americans surveyed agreed with the statement “I support brands that support veterans”. The positive PR from being known as a military-friendly business can help gain civilian customers as well.
3. There’s a lot of them. Did you know there are over 22 million veterans in the United States? Throw in active duty, spouses, and dependents and there’s over 50 million military affiliates. That’s around 15% of the general population and one of the biggest, most specific demographics you can choose to target. Unlike selecting a target demographic like “men under 30” who may have varying interests, you can feel confident in using marketing geared towards veterans who hold similar interests, backgrounds, and values.
4. They’ll do your marketing for you. The military community is tight-knit and its members love to share valuable information with each other. When a veteran has a good experience with your brand, you can be assured that this information will be passed along. Popular methods for sharing information include word of mouth, Facebook posts, blogs and message boards, local events, and military spouse online communities.
How to reach veterans
Digital marketing has made it easier for businesses both small and large to target specific demographics like veterans. Social media, blogs and message boards are a great place to start. Many military spouses are active on social media and blogs in order to connect with one another and share useful information. Sharing information about your support for the military on social media can be a great tool to gain new, loyal veteran customers.
Try offering a military discount. Whether it’s just for holidays like Memorial Day and Veterans Day, or year-round, a discount will catch the attention of the military community. As I mentioned earlier, word of a discount can spread like wildfire throughout the military community.