Are you settling into the time change? I’m a happy camper, I’m back on my natural time waking easily at 5 am…
Before I get into this week’s focus, here’s something to think about: Garbage In, Garbage Out. Think about what this means for your business, and especially your marketing. Next week, I’ll be diving into this concept and why input quality can make or break your results.
But this week, let’s talk about the customers you already have. Customer retention was the 6th pain point in my blog a few weeks back, so I’m diving into this one here to finish the series..
I once had a client with an ecommerce business who was laser-focused on acquiring new customers. Every day was about that next sale, the next lead, the next marketing campaign to get new people in the door. But here’s the thing—he was leaving thousands of dollars on the table by not paying attention to the people who had already bought from him. For ecommerce and many other businesses, upselling, cross-selling, and retargeting are golden opportunities. But this guy’s focus was so fixed on new sales, he overlooked the easier, more profitable path: getting existing customers to buy again.
There’s a saying in marketing, the 80/20 rule: 80% of your sales often come from just 20% of your customers. What about the other 80%? They’ve already bought from you once, so they know your brand and product—it’s much easier to turn these one-time buyers into repeat customers than to constantly chase new ones. And it takes a lot less time, money, and energy.
Customer retention is a growth engine that’s often overlooked. Studies show that retaining a customer is far cheaper than acquiring a new one—some research even suggests it costs five times as much to attract a new customer as it does to keep an existing one. Do you know your Cost of Acquisition (CAC)? Plus, repeat customers spend more, and they’re more likely to refer others. So, ask yourself: what’s your follow-up procedure? Do you reach out to customers after a sale, check in, or offer them something valuable? If not, it might be time to start.
There are countless ways to retain customers, from simply checking in to implementing incentive programs, customer appreciation offers, or even ambassador and referral programs. Small gestures make a big impact and keep your brand top-of-mind. Tools like Constant Contact and Zoho CRM, along with referral tools like Zoho Thrive, (yes I sell and implement these – ask me) make customer retention easy and effective. Over the years, I have designed some dramatic customer retention plans for my clients that have seen huge sales $ increases from a simple system…
Need ideas to boost your customer retention? Book a FREE Strategy Session with myself, Steve, or Mackenzie. It’s a quick way to brainstorm retention strategies tailored to your business, no strings attached. Just click the link, choose your preferred strategist, and pick a time that works for you.
Enjoy! Have a great day, and if you have a question or comment - email me!
Debi Katsmar
TUESDAY MARKETING TIP
Use Video In Your Marketing
Create short, engaging videos to promote your products or services (or feature a customer)...
I finished putting together the content for this workshop (the first of 7) and WOW - tons of know-how offered, worksheets and much more. Register today - only a few spots remaining. Reach out if a payment plan works better for you...
B2B Growth Accelerator: Business Optimization for Sustainable Growth
This comprehensive 7-session course offers a deep dive into the essential pillars that every B2B business needs for long-term success.
There has always been SEO, then there was Voice Search and now, ASK SEARCH! Is your website optimized for ASK SEARCH? (AEO) Reach out if you would like to know more!
ChatGPT's AI Search Tool Is Now Available
OpenAI just launched its newest artificial intelligence search experience for ChatGPT. Here's how to get the AI search update, and WIRED's initial impressions.
Your website is the hub of your marketing - is it a Silent Seller or Just Silent? It should be generating leads for you. If it isn't - Book a call or meeting - we would be happy to have a conversation!
And that's all she wrote folks! I hope you received valuable information in this issue, please feel free to share with a friend or colleague.
Check out our marketing resources, and some of the websites we've built for our clients. Call us any time - we're always happy to help.
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