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4 Proven Customer Retention Strategies [Increase Profits by 25-95%]

There’s so much emphasis on new forms of communication, contact, and customer service. But when it comes to clients returning to your business again and again, old-school strategies are more important than ever. That’s because repeat clients hold a lot of potential value for future profits and revenue—and they’re a lot easier to convert than brand-new clients. Customer retention doesn’t have to be complex; in fact, there’s a simple four-part strategy that’s easy to implement and use. It involves making the experience for the customer valuable, simple, impactful, and personal. How can you improve retention, and ultimately improve your business? This graphic helps you discover a process that works. Graphic and intro provided by and included with permission from Salesforce. It’s Easier to Get Sales from Existing Customers Than a New Customer Considering that 80% of your profits will come from 20% of your existing customers, that makes a huge case for the importance of being able to retain your existing customers. When you combine this knowledge with your actual probability of converting an existing customer (around 60 to 70%) to the much smaller probability of converting a new customer (about 5 to 20%), it should be clear that your […]

6 Elements of a High Converting Lead Magnet

While great engagement by your online community is essential to a good social media strategy, alone it doesn’t usually generate a lot of sales. Most business need to use social media as a way to find, connect and build a relationship with their ideal clients. But once you have done that, then what? If you want to generate new prospects, clients and sales, then you should be directing these ideal clients into your sales funnel. How do you accomplish this? With a lead magnet. A lead magnet provides value through a piece of content that offers a small chunk of your expertise to solve a very specific problem in exchange for an opt-in (being added to your email list). Because of the specific nature of the problem you are solving, your lead magnet should usually also target a very specific group of your ideal clients. So for example, if I wanted to target sales reps who’s target market is VP of Sales, I might create a checklist with the steps that they should take in order to find more, as well as more qualified, potential leads. Depending on your ideal clients, their industry and their challenges, you can choose from a wide variety […]

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