When many businesses think of growth, they think of strategies to get new customers. It’s the logical first step in gaining new customers and the customer journey, which for smart businesses, might look something like this…
While new customers are essential for businesses, especially start-ups, too often, businesses don’t think about who’s most likely to buy from them.
People they already have a relationship with and are most likely to purchase or spend more. Their current and ‘former’ customers.
This is in contrast to people who may have never heard of them, typically have a longer decision-making process, and are much more expensive to convert.
So let’s look at this different approach, and how the priority path for growth would look like in the context of focusing on our existing customer and prospect list first….
Instead of starting with new traffic, which has a much higher cost of acquisition, we’re prioritizing re-engaging an existing list of customers or prospects. We’re driving our existing prospects and customers to take action.
It’s still the same eight-step process as before, but we’re changing the starting point, starting with re-engagement of our existing list, instead of generating new leads. This is the quickest path to cash.
Gain More Repeat Business, Get More Referrals
What’s the best way to capitalize on this tremendous opportunity of re-engaging existing customers and prospects and do it in a low cost, scalable, and effective way?
It starts with a system in place that allows you to re-engage, nurture, educate, and make offers. So the process is streamlined with less friction and it’s easier to make a purchase.
Effectively incorporating this approach in your business means more engaged customers, higher conversion rates, more revenue per customer, more referrals, and more repeat business. It’s the ultimate win-win!
How to Make the Priority Path Change
When you’re thinking about priorities in your marketing, it doesn’t have to be complex or fancy, and you don’t even have to look hard to find it. It’s right in front you.
Your customers are much more likely to engage, buy more, and refer you business. You just have to ask.
Want to learn more about the system we use to put customers first? Then download the content below and contact us, and let’s start blazing a new, more prosperous path.