Keeping your Customers
Hello, and welcome to Aftershock Weekly, Episode 13. Today we have a fun topic that I’m really passionate about, because it’s something you don’t think about a whole lot—especially in the business of helping generate leads. You forget about one thing: the customers you currently have. So, today I’m not going to talk about running Facebook ads or Google AdWords or anything like that. I’m going to talk about how you can help keep your existing customers happy, and provide a couple of tools for you, as well as a mindset behind it.
One of the most expensive things you can possibly do is have to replace a customer. Let’s just say your average customer is worth a thousand dollars a month for you. Every time you lose a customer, you’ve got to replace twelve thousand dollars a year. That is a vicious cycle. Let’s say it costs six thousand dollars to acquire a customer. So half of that money the first year, you’re going to lose just acquiring a new customer with advertising. So here’s a couple things you can do.
Number one: stay in touch with your customers on a consistent basis. You can use email, you can use text marketing, or you can use that fancy thing called a phone–you know, pick it up every once in a while. Shoot them an email. Have a personal touch. It depends upon what you’re selling, of course. If you’re in a subscription-based internet business, it’s going to be a little bit different than somebody that owns a hardware store. But whatever that case is, you want to set up a plan on how to continue to touch base with your customer so you can get them back through the door, you can show them your business is growing and changing to better fit their needs, you can show them new offerings that they might want to utilize for your company. It’s an important thing to continue to work on, because the biggest thing that you can do is to continue to try to keep the people that you have while your sales team is out there adding new customers to it. Because turnaround is no fun, and it can waste a lot of money.
Another fun thing you can do is you can have a rewards program. For every time a customer purchases on your site, or they come into the store, you can create reward points. When your customer accumulates enough, they get something for free or they get a percentage off of a sale. You see it all the time—one of my favorite little restaurants is a place called Hummus Express. And every time I go there I enter my phone number, and every ten times I go there I get five dollars off my meal. Well, I would go there every day whether I got five dollars off my meal or not, because it is delicious, I love it. But that does keep me coming back. It’s three miles down the road and I’ve got nine restaurants right downstairs, but every once in a while I get a text message from them that reminds me, oh yeah, hey, we’re here. Come in for two dollars off. Now I’m not the biggest discount shopper in the world, that doesn’t always entice me, but it reminds me that hey, yeah, they’re around. And by the way, let’s go get some Mediterranean food today. So that’s an example of a customer rewards program. You have credit cards that do the same thing, um, you see it everywhere. But think about how you can do it in your business, and what you can offer your customers so that they can see you more consistently and have an advantage of purchasing from you more often.
So that’s pretty much all I wanted to share with you today. I know this was a short episode, but next week it’ll be much longer, so you’ll appreciate the shortness. So thanks for tuning in, and I’ll leave you with a quote.