How And Why Your Customer Retention Costs Dwarf Compared To Your Initial Customer Acquisition Costs!
(And If They Don’t Something Is Definitely Wrong!)
So which ongoing costs do you honestly prefer? Your ongoing customer retention cost. Or your ongoing first time customer acquisition cost. The clear winner has to be your ongoing customer retention cost(s). Agreed? Absolutely.
Especially when you or your major competitors strategically combine modern technology to the mix. Right? And throw in a little digital marketing assets and resources.
And believe it or not. Entrepreneur you or your major competitors have the makings of a potentially profitable mushroom of previously untapped marketing opportunities and or previously untapped marketing possibilities. take a closer look and see for yourself.
How And Why At Least Some Of These Incredibly Simple Customer Loyalty Strategies Eventually Equal Big Bucks! (For You Or Your Major Competitors.
Entrepreneur you hear the phrase “content marketing.” What immediately comes to mind? Do you by chance have, (either) your own self hosted, state of the art WordPress blog? Or fully optimized youtube channel.
Or maybe you create your own laser targeted podcast episodes at least once a week. Or maybe you already have at least 10-75 pre written email follow up (drip campaign) messages queued up and ready to go.
So each time you generate a new opt in email subscriber to your main or one of your various lists. They immediately start receiving ongoing value
from you. Or maybe on top of all of this ongoing content marketing.
You also periodically appear as a podcast guest on certain influential podcast entrepreneurs show. Or you periodically appear as a quest blogger on highly influential industry bloggers blog.
What or however you go about creating your various forms of content. You can and should systematically be leveraging into other forms of ongoing income. Or future income producing opportunities. Say what?
Believe It Or Not Any Type Of Current Or Future Content You Create Can And Definitely Should Be Strategically Leveraged Into Multiple Streams Of Income Producing Possibilities!
Case in point. Watch “how” a seemingly tiny, initial form of ‘how to” problem solving digital content. Can and definitely be expanded and developed into some mini or major profit centers.
Let’s say an on or offline company initially gives a free ‘how to” problem solving PDF special report. In order to start their list building process. From there (pre COVID) they may offer specialized offline workshops and or Masterclasses.
Which vary in prices from $47 – $497 per person. And of course at least some of these live classes and sold both separately and strategically bundled. So as long as the customer purchases three or more. They automatically save 30% off the typical retail Price. Then sadly and totally unexpectedly the virus hits.
So at least for now. No more on or offsite physical workshops or masterclasses. Correct? Maybe. Huh? No those incredibly popular higher end workshops now become 100% virtual events.
You Can And Definitely Should Always Be On The Lookout For Some Previously Untapped Marketing Opportunities!
And because you or someone within the company. Or you outsourced the entire project. You or your major competitors now have a state of the art paid membership site. Which of (among other things) also stores your off and online paid workshops.
And you basically have a two tier payment structure.
A.) Plan A which is your Platinum Payment Plan offer: Consistent of the following benefits. Every customer who spends at least X with you. Or any 12 or X month period.
They automatically get access to the paid membership site for just $37 dollars a month. Or $444 per year. However, simply for making one single payment of $310.80. Thy automatically save 30 or X% off the normal annual rate.
Plus they automatically get an additional 3 month. Ninety day extension for paying one year in advance. Which is a savings of $111. dollars. (And as an additional totally expected incentive bonus.
Every customer who enrolls and remains on the “Platinum Payment Plan.” Instead of paying the usual one on one personal coaching/consulting rate of $300 or X amount per hour. They only pay $125 per hour. Plus their very first paid session is for 90 not 60 minutes at the reduced rate. Say what?)
B.) Plan B which is your standard no frills Silver Payment Plan offer: This consists of a monthly payment of $67 dollars per month. For a grand total of $804 dollars a year. But once again. Simply by making one payment of $562.80. They automatically save 30% off.
Offering Your Target Audience Relevant Digital Products And Services Is A Proven Income Generating Model!
Case in point. Some of you (no doubt) are already familiar with my coach, mentor and friend. The one and only “Jupiter” Jim Landers, correct? Jupiter Jim is an absolute master ninja type of digital marketer.
Take a look at the image below. This is for his newly launched “Aweber Crash Course.” Which is absolutely fabulous. You could if you absolutely want to. Purchase this awesome stand alone course on its own. And you will be receiving an outstanding value.
Or you could do yourself and your bottom line a huge favor. Say what? And simply join Jupiter Jim’s awesome paid membership site. And get direct access to that along with 40 plus outstanding video tutorial based courses. Fresh monthly newsletter content as well as direct personal paid, one on one access to the man himself. Not (so called!) trained expert associates handpicked by him.
(And simply for joining and remaining an active opt in email subscriber. You automatically save 50% off his usual one on one consulting rates.)
How And Why Your Customer Retention Costs Dwarf Compared To Your Initial Customer Acquisition Costs!
You Definitely Don’t Have To Try And Accomplish Everything On Your Own!
Say for example. Jupiter can authorize you and I to become registered affiliates. So you get paid a percentage (affiliate commission ) for every sale of his product you sell.
Or if you’d like to take things to the very next level or two. You could invest X amount into purchasing some level of “licensing” rights. And just depending on the type of license you purchase. You get to sell the product and keep 100% of the front end revenue generated.
Jupiter Jim may also decide to make his entire course available to any of his subscribers who purchase one of the higher end digital products or services he currently sells as an affiliate.
So hopefully without having to go any further. You now much better appreciate “why” your ongoing customer retention cost dwarfs compared to your ongoing first time customer acquisition costs. Don’t you agree?
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!
(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.)
And be sure you grab your explosive free 22 step small business marketing idea kit series, because it will help you increase your gross profits by
as much as 25% in the next 90 days or less.
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.
