Stickiness

We should all know how expensive it can be to attract and acquire a new customer. Have you ever worked out your CAC, Client Acquisition Cost? But we can often forget or at least underestimate the impact of keeping each client for one more day, week or year.

Generally there is no acquisition cost for helping your clients stick just a bit longer so the gain is 100% to the bottom line.

OK I get if you are a funeral director or a double glazing firm it may not be possible but for many businesses turning the first purchase into the first of many should be a clear goal and a relatively easy way to grow your business. What would it mean to you if you could progress every first time buyer from a new client all the way through to a raving fan? A raving fan is a customer who does more than simply advocate and recommend you but proactively sells for you to his contacts.

This rarely happens by accident but there is a tried and tested process to intentionally facilitate this journey.

So the questions for today are:

• What would be the financial benefit of a client sticking with you for one more time?
• Are you regularly and intentionally creating Raving Fans?
• Do you have a written and documented process to increase your raving fans?
• Do you measure each stage of the journey?
• What else could you be doing?

If you need any help, reach out

Many successful business owners eventually hit a wall on growth and struggle to climb it alone. When you work with me you get a fresh perspective, a solid plan, and customised coaching so you can grow and scale your business safely and at speed. To check whether I can help you on that journey https://calendly.com/iankinnery/canweworktogether