This Is The Kind Of Thing Which Makes Your Traditional Advertising Costs Even More Expensive!
(Or Customers Who Stay Inactive Indefinitely!)
So have you ever taken the time to calculate the true cost of lost customers? If not why not? You really should entrepreneur. Because doing so will definitely open your eyes to just how much lost gross front or long term back end profit you’re probably missing out on.
Plus you can and definitely what lost customers are costing some of your best non directly competing vendors or top Joint Venture (JV) partners as well.
Because this temporary or permanently missed gross revenue. Means it’s even less money they have to pay you even higher affiliate percentage commissions. 😀 Don’t you agree?
Strategically Winning Back Lost Customers Is A Far Too Often Overlooked Potential Profit Center!
Whenever your business or service experiences a higher than industry standard lost customers ratio. This additional missed gross profit can’t be used to? (Do keep in mine clearly there are some other major issues which definitely must be successfully dealt with too.)
A.) Invest in acquiring your all important 1st time customers or long term clients at cost. Knowing you or your major competitors can consistently earn all or most of your long term profits on the back end.
B.) Your additional missed gross profit doesn’t get invested into developing or testing different low cost lead magnets.
C.) Your missed gross profits from lost customers also doesn’t allow you to pay even higher amounts per click. For your most successful Pay Per Click (PPC) ad campaigns.
D.) Your additional lost gross revenue from lost customers. Doesn’t allow you to continue to leverage them. And inexpensively generate long term repeat referral business. For literally pennies on the dollar.
Creating Customer Loyalty Is A Proven Strategy For Systematically Reducing Your Cost!
If or once you actually bother to do a side by side comparison. (Meaning actually running your numbers.) It should become blaringly obvious how outrageously expensive it is. For you to have to figure in lost customers. Lost customers no longer post positive reviews all over social media, correct?
They also don’t become reliable long term repeat customers or clients do they? 😀 Lost customers also can’t be the all important go between or bridge which much easily connects future JV partners together. Which could potentially shave years off your prospecting curve. Don’t you agree?
The potential long term revenue missed out on because of lost customers. Definitely adds up, does it not?
Keep In Mine You Can Definitely Help Other Non Directly Competing Vendors Re-activate Their Ex Customers Base!
P.S. Now as is customary during this part of our show. Please share your extremely valuable comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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Extremely important note: And if by chance, you happen to know any of the lesser known podcasters, (or radio show host) who also target small business owners, service providers or aspiring startups entrepreneurs etc.
And they’re pro-actively looking for potential guest speakers. Please don’t hesitate to-either- pass their name and contact information directly to me or vice versa! Thanks!
(And be sure you head over to Spotify.com and setup your free account. This way you can listen to my podcast “The Marketing Minute” and leave me a greatly appreciated 5 star review. Provided you honestly feel it warrants it. Thanks!)
(Click the link just below, and watch the first video at the top of the page, if you’d like to see the entire 33 minute replay, of a guest podcast on marketing your small business or service. I Recently appeared on.)
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And help you master your effective communication in marketing skills.(No matter what your particular niche market is.) It’s a $97 dollar value and it’s FREE! Please note some links on this page are affiliate (income producing) links.
