There's a golden rule for selling innovative ideas that I've used to win $millions in agency work
yet 99% of marketers haven't heard of it
My secret weapon for perfecting pitches and influence:
π§΅π
In summary: Effective retention isn't a one-off task. It's an integrated, evolving strategy of earning trust & loyaltyβkey routes to profitability. π°π‘
Avoid these 8 mistakes to build your bottom line
#CustomerRetention#SMBMistakes
π₯ Customer retention isn't just a buzzword. It's the backbone of your business ROI.
But many SMBs are slipping up. How?
Let's dive into the 8 costly mistakes I see on the regular. π§΅π #CustomerRetention#SMBMistakes
8οΈβ£ Undervaluing Customer Lifetime Value (CLV)
This metric isn't just numbers; it's a gauge of business health and future potential.
Prioritize it. #CustomerLifetimeValue
I was laid off from Twitter today. I was the designer in charge of our new rebranding to X.
I learned so much in my 2.5 weeks at the company but Iβm excited to see where I land next.
If youβre hiring a self taught, junior designer please DM me. Graphic design is my passion!
For most brands, your highest leverage retention opportunity is moving more new customers to a second purchase.
Why? This is where most of your churn happens.
But most retention marketing focuses on customers who are already loyal (this happens between purchase 3-5 for most brands)
Why that is a mistake:
1. By purchase 4 most of your churn has already happened.
2. Your loyal customers are already buying every 1-3 months. Driving even more incremental revenue is hard.
If your brand is less than 5 years old, your loyal audience will also be relatively small.
It takes the average customer 9-12 months to become a 4x buyer.
Focus your energy where you'll get the most impact:
π Convert more 1x buyers to a 2nd purchase
π Focus on the first 30 days post-purchase
π Use customer insights to acquire new customers who are more likely to buy again