You Have to Pay More Attention to This…
Let’s make a deal.
Behind curtain number one: a prospective customer who will buy $10 of your goods and services if you spend $5 on marketing and advertising.
Behind curtain number two: a prospective customer who will buy $20 of your goods and services if you spend just $1 on marketing and advertising.
Spend $5 to make $10 or spend $1 to make $20? Which would you choose?
A no-brainer, right?
It may seem like a no-brainer, but businesses dealing with their marketing dollars too frequently make the wrong choice.
I’ll offer the same choice, this time without the numbers to guide you.
Would you like to spend the bulk of your marketing dollars on:
A) Acquiring new customers or
B) Nurturing existing customers so they return and spend more?
Here’s the deal: I
It costs moreāmuch moreāto turn new leads into customers than to re-sell to an existing customer.
And returning customers often spend more per transaction than new ones.
This is especially true when the economy stinks.
I am not suggesting that you stop all new customer acquisition efforts.
You must continue to put new prospects into the sales funnel and convert them to customers.
I’m simply encouraging you to pay more attention to maximizing the lifetime value of your existing customers.
Ask yourself, āAm I doing all I can to retain existing customers and maximize revenue from them?ā
If not, it’s time to do more.
What can you do to improve customer retention and maximize the lifetime value of each customer.
Stay tuned for tips and strategies in the days ahead.
Don't go away yet..
p.s. Coaches, authors, and consultants hire me to power-up their creative content and storytelling to captivate prospects, stand-out and book more business.
Whenever you're ready, here are several ways I can help you become a storytelling stand-out so you'll land more clients without pitching and prodding:
1) Get theĀ Story Power Profit PackĀ -- 52 Strategies, Tips, and Tactics Ā to Transform Your Content from Ignored to Adored.
2) Watch theĀ free, 7-minute Micro-Training: āThe 3 Most Important Storytelling Keys to Captivate Prospects and Inspire Them to Act -- Without Pitching and Prodding.ā
3) Become a Story Power VIP: Master how to discover, assemble, and deliver business-building stories. Twice-monthly live masterclasses. Members-only content. One-on-one feedback and consulting sessions. And moreā¦ If you'd like to learn more about our VIP program, just reply to this email and put "Story Power VIP" in the subject line. Iāll contact you with more details.
4) Work with me one-on-one: If youāre interested in working directly with me -- to discover, assemble, and deliver powerful, business-building stories -- simply reply to this email and change the subject line to "Private Client." Tell me a little about yourself, your business, and what you'd like to accomplish, and I'll reply to discuss options.
5) Invite me to speak at an event: I can tailor a presentation that meets the specific needs of your organization. Informative. Entertaining. Virtual or live. Potential for continuing education credits when applicable for your group. If interested, reply to this email and change the subject line to āSpeaking Engagement.ā Iāll circle back to discuss the possibilities.
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