Studies show that 16 percent of your customers leave you due to a competitor's offer. That's bad enough, but another 55 percent of the customers you lose leave because you paid them no attention. Remember, repeated surveys show that each customer costs you around $300 to get. But you spend nothing to keep them, so they leave. Yet for less than $3 per year you can keep them, their business, referrals, and future sales in a way that makes you stand out from your competition. How?
Get a customer retention newsletter program going, or keep it going. Newsletters are designed to keep your name in the customer's mind, but not merely as a sales piece. If you're always trying to sell somebody something, that's a big turnoff. Instead, a newsletter builds a relationship with customers, and this relationship builds loyalty, which leads to referrals and sales far better than a screaming advertising message could.
Staying in touch with a newsletter is one of the most effective, least expensive marketing tools you have. In fact, Jay Conrad Levinson, the creator of the guerilla marketing concept, says that customer newsletters are the No. 1 guerilla marketing weapon on the planet. If you're on this planet, you should invest a little to keep the customers you paid so much to get!
Media WatchMarch is the beginning of your customer retention push. This means sending newsletters to your active (activity within the last 48 months) customer base.
Hudson is president of Hudson, Ink. For more information on newsletters, contact the company at 800-489-9099, 334-262-1115 (fax), or www.hudsonink.com.
Publication date: 03/01/2004