Savvy marketers will calculate their Customer Acquisition Cost (CAC) to make sure they are acquiring customers cheaply enough to turn a profit. Most of that goes towards upfront costs like advertising or paid deals, leaving very little to actually retain a customer. Which is silly because retaining the customer will boost how much they spend …
Tag: customer retention
Send your customers a goodie package to boost customer retention
I had to upgrade one of my infrastructure services for Repeat Customer Insights. It out-grew the plan it was on. Instead of just locking me out or upgrading me automatically, their support reached out to me. We ended up having a conversation about trying to squeeze back into the old plan but I still couldn’t …
Spend more on retaining your existing customers
Many stores spend a lot of resources on customer acquisition. How much does it cost on average? What about an online store customer vs POS vs Facebook? Does it increase over time or stay within a band of costs? But acquisition costs are only part of the picture. You’ll want to look past the first …
Plan to lose the majority of your traffic and customers in the long-term
I’ve planted a few hundred beans in the garden this year. Every time I plant beans, only about half of them survive past the baby stage. I’ve learned to expect to lose many of them to slugs, squirrels, and poor soil in general. I can do some things to minimize the losses but nothing works …
Start more than what you need
Over winter I planted about 20 trees and shrubs, most of them dormant. Now as spring starts to warm everything up, the majority of them have come alive and started to grow. But a few haven’t. I don’t know if they didn’t like being uprooted and shipped, the area they are planted in, or if …
Measure, tweak, and keep the winners
Today marks the start of the spring planting for early vegetables in Portland. Plants that can take a bit of cold and wet still. But that’s not a hard and fast date. Each plant has different needs and the weather is never perfect. That’s why I already have 524 seedlings started outside. Some are ones …
Too busy for customer retention
I heard from a Shopify store that they are too busy for customer retention because all their time is focused on customer acquisition. They didn’t realize that they were the ones creating the problem with their business. When you ignore customer retention, customers will leave. Some might stick around but those will be the minority. …
Is it cold in here?
It’s starting to get cooler here as we get into autumn. Cool, but not quite cold yet. You know, that borderline area where you might turn the heat on for a bit but it’s not quite needed all the time yet. This year we also replaced our central heat with per-room heaters. They’ll be more …
What actions are you taking to bring customers back to your Shopify store?
When you start to improve anything, having a guiding question or two can help you focus on the important. If you’re trying to improve your customer loyalty, ask yourself: "What actions am I taking that will make customers want to come back?" Not what deals. Not what campaigns. What actions. Answer that and follow it …
What will you do to keep customers this week?
One of the primary functions of your business should be to keep customers you’ve already won. Existing customers are easier to entice to buy again (e.g. 27% vs 3% conversion rates), they spend more, and you’ve already built-up some measure of trust with them. Every week you need to be thinking of how you’re going …