Who Says You Gotta Be A Marketing Guru In Order To Steadily Increase Customer Retention Rates!

Since you’ve already been involved in some type of profit seeking business or service. You can readily appreciate the long term profit generating potential of reliable repeat customers, right?

And by extension you also know why you or your major competitors need to be constantly working on proven ways to increase your customer retention rates. Agreed? Good.

Because discovering “how to” systematically do so. Will allow your business or service to strategically scale. For literally pennies on the dollar. Or if you prefer. Because you already have some type of idea what your idea customers total lifetime customer value metrics are.

You may decide to initially invest even more up front on your initial customer acquisition costs. Because you recognize what’s potentially available to you on the long term back end of you sales process.

Let’s have a closer look to see how and why doing so potentially makes a lot of marketing and promotional sense.

So You Gotta Be Wondering What Is A Good Customer Retention Rate? ( Right?)

Basically since every business or service is unique. Correct? What you need to initially do is try and establish “how” long your ideal customer or client sticks around. Be it weeks, months or years.

And over this given amount of time. On average how much do they actually spend with you. And then try and determine how many weeks, months o years do they consistently do this. plus on average “how” many semi qualified referrals do they also tend to recommend.

And “how” long do your ideal referral customers stick around. And on average “how” much do they tend to spend and refer as well. Are you definitely starting to appreciate how knowing and understanding these basic.

Yet critically important metrics are to your current and future marketing, advertising or promotional budgets? Say yes.

The Deeper Your Basic Understanding Of Proven Marketing Strategies And Proven Concepts Are! ( The More You Can Definitely Afford To Invest In Your Front End Customer Acquisition Strategies And Tactics!!)

So let’s sort of put together a fairly detailed, hypothetical marketing example. So you can hopefully strategically put the different pieces to the marketing puzzle together in a coherent way.

Let’s say you own or manage a fairly successful, single location retail furniture store. And because you now much better appreciate total lifetime customer value metrics.

You recognize just how potentially profitable and perpetual the long term gross profits are. With regards to your typical corporate customers. Meaning the local men & women who own their own business or service.

It’s actually multi dimensional. Huh? Think about what the previously untapped marketing or promotional opportunities are. For one thing. even if these men & women don’t currently want or new brand new office furniture.

They may want or need brand new furniture for their primary home. Or their second home or second apartment.

 The Previously Untapped Marketing Opportunities Just Keep Multiplying! (Providing Your Marketing Eyes And Ears Are Open!)

And of course these local business owner or service providers have extremely close relatives, in laws, current, ex and future neighbors, right? They also have current, future and ex in laws. Do they not?

And each of these individuals all know and are related to at least 25 other locals. Right? And rest assured, even leaning on the more conservative side of things. At least 30% of this potential pool of first time customers.

They will make that all important first time purchase. Then you throw in some viral, positive word of mouth and mouse marketing buzz. Both on and off of social media.

And these local business owner and service providers professional and personal inner circles. And you or your major competitors have created a reliable profit center which you can and definitely should be able to consistently monetize for quite a while. Don’t you agree?

Who Says You Can’t Fly Under The Radar And Still Consistently Generate A Ton Of Long Term Gross Profits!

Case in point. Let’s say you or your major competitors form a mutually beneficial JV (Joint Venture) arrangement with a few local CPA (Certified Public Accountant) or CFP (Certified Financial Planner) firms.. Where the major partners offer all the existing and new partners, extremely time sensitive gift certificates to your store.

And as long as they drag a friend with to you store whose at least 18. Before the gift certificates expire. The automatically save up to 40% off their first or very next purchase. Up to $2,000 dollars.

And if they’re smart enough to join you or your major competitors opt in email or text message list. They can simply check a box on your market tested lead capture page.

And receive extremely time sensitive email or text message alerts. (way before the general public mind you!) About upcoming  private, blowout, “closeout” sales events.

You Can Create Long Term Marketing Buzz In More Ways Than One!

And every associate who drags a semi qualified friend with them to these events. They automatically entered into a free drawing for a chance to win a state of the art, $5,000 dollar Master bedroom suite. Truth told your actual hard costs are about 40-60%.

But think of the potentially profitable, long term word of mouth and mouse buzz this one incredibly simple marketing strategy will create and perpetuate. Agreed?

Are you starting to better appreciate why you or your major competitors definitely need to invest some of your resources into improving customer retention rates? Say yes.

The Longer You Or Your Major Competitors Retain Your Ideal Customers! ( The Less You Have To Spend Upfront In To Initially Acquire Them!)

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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