For most marketers, 20% of your customers represent 80% of your profits. Any significant loss of this core group could mean a serious hit to your sales, profits and future success.
While you cannot stop prospecting, remember…it is always cheaper to market to your existing customers than to acquire a new one, so don’t neglect your loyal buyers.
Now is the time to implement these 5 customer-retention strategies:
- Upsell and cross-sell: Suggest products and services that complement your prospect’s current or most recent purchase.
- Loyalty program. Reward your best customers with extra perks to keep them coming back.
- Retention series: If customers order a 1-month supply of your product, remind them to reorder throughout the next 30 days.
- Conversion series: Maintain contact with prospects who have signed up for freebies or limited-time trials. These series should educate them on getting the most out of your product or service and present them with a strong offer.
- Outreach to former clients: They responded before, and they may respond again. Tell them how your product or service meets their needs now and fill them in on what’s new and improved.
Let’s discuss your database and how to better create upsells, cross sells and loyalty.
Email me at [email protected] or call me at (310) 212-5727
