Calculate – or in most cases not calculated – the cost of customer acquisition & you will be comfortable with the level of investment required to have customers in your business! Especially if you know their lifetime value. This is the starting point – to measure, to test and to track the costs of client acquisition – it also makes you more comfortable with the whole process!
Imagine then having worked so hard to get them, simply abandoning them! imagine saving to buy a Ferrari & leaving it at the roadside! & yet that is the norm for many!
The Process of Marketing
When you appreciate the whole process of marketing, client acquisition & lifetime value you would never forget this crucial part of the process!
The ‘Know, Like, Trust’ element of the sales process is well documented, so when you have mastered this with your client base, the task of keeping them informed, staying in touch & re-visiting them should be a natural follow on to your plan.
How do you do this? Newsletters are a simple example of how this can be done – and bizarrely printed newsletters have soon become the new norm – (who opens emails nowadays?). Do people want to know about your technical ability? Noooooooo they want something interesting to read – in fact fill the newsletter with anything but sales talk, technical aspects and especially not jargon & it will go a lot further.
What outcome do you want from this activity? Sales! & more sales! Not to all but even to a tiny percentage of them you will increase the value of your business. So often we forget this vital element of the process & how much is it costing you?
Newsletters are only one of about 60 ways, the 5 Ways system has to remind you of what to do – many get stuck with the required imagination of trying different things so would it be helpful to have access to a proven guide of how to do it?
Accessing the 5 Ways to Better Profits has proven so helpful to many business owners – why not try it yourself?
5 Ways to Better Business
of course it’a all about YOU so if you prefer a consultation let me know!