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Double your business in the next five years and hardly lift a finger or barley change what you are doing. Every business will loose customers every year. Today we are all so focused on growing our businesses that we miss out on one of the most profitable opportunities that lay in front of us. In the process of marketing, selling, and doing tradeshows, we loose sight of the gold we are sitting on. Customer attrition is the process of customers not using your services for whatever reason. It is important to know why, how, and where they have gone. They may have moved geographically and it is no longer convenient, or they have grown in size and what you provide may not fit If the 80/20 rule applies, as it most often does, then
20% of your erosion of customers is irreversible so why worry about it? The other 80% are not hearing from you often enough so you need to make their lives easier. Too often (and see if this is the case for you) you get Fact: Any mailing is only truly effective after the sixth attempt. Surprise, no wonder the industry average response rate to mailings is less than 1.2%%. Mailing in intervals of three to six weeks of similar formats, you will automatically increase your response rate by 5, 8, 10 times or more! How do you do this? Simple. If you mail the same offer twice, then the third is a reminder, the forth with an incentive, the fifth with an even better incentive and he sixth with a final notice for the offer, you will increase your response dramatically. Now for the kicker. Increase your results by 1000% by making one or two courtesy calls during those mailings. A simple call to ensure that they are getting your offers, saying hello, or asking if you can serve them better will explode your sales opportunity with those mailings. More often than not, they will say "great to hear from you, I was meaning to call" or "I'm glad you called, we were just so busy" We assume your mailing piece is reaching the intended person or decision maker. We assume you are offering a great product or service that has a true value, if not, make a change.
We assume that you have consulted or referred to some sort of copy writing manual or consultant. If you need If you can reduce your customer attrition by only 20%, you will double your business in 5 years or less. To determine what you can afford in mailing costs, you need to know your profit and marginal net value. How do you calculate this? If you are selling something with a profit of $5500 or more, then you will quickly see it pays to stay in touch with your clients. The mailing may only cost you the profit from a few sales but it will more than likely bring you far more in return. One big question we get asked is how do we implement this. Well, we delegate the tasks. If you are a one-person company, then hire a student for a day, week, or just an evening, whatever it takes for them to do it for you. With today’s advanced software, it takes just a click of the mouse for us to email this to you and thousands of others. It takes a few more minutes to print letters and labels to hundreds of you. Let the technology serve you and make your life easier. You should be using some contact manager Rob Did you enjoy this issue? If so I would really
appreciate if you would pass this along to your friends and
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