Marketing- Customer Retention.pptx
The Customer Retention Formula
“ Easy to implement marketing methods to retain your current customers ”
Copyright Notices: All portions and components of ‘The Customer Retention Formula’ are copyright protected, and all rights reserved. No portion may be reprinted, reproduced, distributed, used in lectures or seminars, or otherwise disseminated without the express written permission of the author. Permission requests should be submitted via mail to the following address:
Published 2016 by Lifestyle Tradie Group Pty Ltd For further information contact: Lifestyle Tradie Group PO Box 330, Artarmon, NSW, 1570, Australia Phone: 1800 704 822 Fax: 1300 553 161 Email: [email protected] Website: www.lifestyletradie.com.au
A Letter From Andy... In 1999 my wife Angela and I (Andy) started Dr.DRiP out of the second bedroom of a flat below my parent’s home. 16 years on, we are fortunate enough to say that Dr.DRiP is a multi award winning, highly profitable and self-managing business. The success of Dr.DRiP has freed Angela, and myself up to spend more time with our family and achieve a greater work-life balance. With copious amounts of knowledge and experience in the trade services industry, Angela and I were inspired to help other trade business owners achieve the same sense of freedom that we were enjoying. From this our second business, Lifestyle Tradie, was born. Lifestyle Tradie is an educational platform that helps trade business owners overcome the tiresome battle of balancing work with life. The business empowers Lifestyle Tradie Members with tools and mechanisms that they can implement in their own business to achieve greater efficiencies and regain a the freedom they had before they became a business owner. Everything we teach has been trialled and refined in our Dr.DRiP plumbing business before being taught to Lifestyle Tradie Members.
‘The Customer Retention Formula’ provides details on two easy to implement marketing methods that you can use to retain your current customers and encourage them to use your services over and over again. This means less time, money and energy spent on trying to get new customers.
Continue reading to see how you can implement these two simple, low-cost marketing solutions in your business today.
1
Customer Retention DID YOU KNOW? Increasing your customer retention by 2% can have the same effect as reducing prices by 10%?
Customer retention is important regardless of the size of your business or what industry you work in. It is far easier to encourage a customer to use you again after they have already enjoyed your services, than it is to encourage a complete stranger to use your services for the very first time.
At Dr.DRiP we have analysed our customer data and measured that our repeat customers have a 28% higher average dollar sale than new customers. It make sense to invest in your database in order to encourage repeat customers.
2
Newsletters Newsletters are the most cost effective way to stay in touch with your existing database. When your customers receive emails from you, your business is more likely to be in the forefront of their minds when they or a friend require service in your particular area. Seeing a businesses logo and company colours on a regular basis, creates this brand recognition. A professional newsletter (one to two pages long) has an attractive template and clearly outlined sections for readers to browse. At Dr.DRiP we email out a newsletter bi-monthly. They are usually topical, whether it be holiday periods (eg, Christmas, New Year, Easter) or common problems experienced during a time of season (eg. Winter – hot water systems & burst pipes and Spring – blocked drains).
You can print it, email it or publish it online!
Easy Newsletter Ideas Examples of content that we include in our Dr.DRiP newsletters includes information about; ü
The company so all stakeholders can stay informed
ü
New technologies you are using
ü
Accomplishments e.g. awards, features in any news publications
ü
New products and services you are offering
ü
A profile of a particular product you use- list its features and benefits
ü
Special discounts and offers
ü
The employee of the month
ü
Topical news e.g. family news (such as the addition of a new puppy) or eventful jobs that we fixed (such as exploding hot water systems and major gas leaks)
3
Creating & Sending Newsletters Email Newsletters We recommend using an automated email marketing platform to design your emails. Two platforms we have used at Dr.DRiP are MailChimp and Active Campaign. There are templates available on these platforms where you simply input the content you want for your newsletter into your chosen template. If you tend to invoice your customers via email or collect their emails when they book, you should already have an electronic email list available to use. Upload this list to your chose email marketing platform and you will be able to send emails to all your clients at once.
Printed Newsletters People still LOVE to receive things in the post! As you have been to your clients houses in the past, you should already have the addresses for a mailing list. This is the perfect opportunity to utilise this information and stay in touch the old fashioned way! You can design your newsletter however you want. For your benefit we have included an easy-to-follow template on the next page.
4
TEMPLATE: Printed Newsletter
Front
Back
5
✔ CHECKLIST: Newsletter Musts: ☐ Brand logo & colours ☐ List your business info ☐ List the services you provide ☐ Testimonials ☐ Discounts and offers ☐ Employee profile Optional info for articles (include three or four per newsletter): ☐ New technologies ☐ Accomplishments ☐ New products and services ☐ Product profile (features and benefits) ☐ Topical news ☐ Work regulations or procedures (employee newsletter)
6
Membership Program We stimulated our Dr.DRiP Club membership program by making every client that was not already a member, a lifetime member.
An investment of $3,500 saw a return of $80,000 to date…and still counting. This is how we did it…in 4 simple steps!
1. We eliminated all clients that were already Dr.DRiP Club members. 2. We cut our database, based on how much they had spent with us, starting with those who spent the most, until all customers were included: ü Over $1000 ü $800 – $1000 ü $600 – $800 etc.
3. We started with a sample of 200 clients to see if this was a successful marketing venture. These customers received a personalised letter (name on envelope and letter). The letter read that the customer had been especially selected for our lifetime membership program, making them feel important and encouraging a long-term relationship with us. It specified the benefits they will receive to provoke them to book a job immediately. We also included a membership card.
4. We proved it was working, so we rolled it out to the remainder of our clients that were not already Dr.DRiP Club members. It is so easy to implement! Once your membership program is in place you can tell new customers at about how they can gain discounts by being a member and they will be more likely to choose your business again.
7
EXAMPLE: Membership Letter
8
✔ CHECKLIST: Membership Letter ☐ Company logo ☐ Personalised ☐ Loads of value ☐ Sign off properly ☐ Membership card attached Notes: ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________
9
Congratulations on completing
‘The Customer Retention Formula’ Now you know how to retain your existing customers using simple, low-cost marketing solutions. To learn about how to generate new customers using additional simple, lowcost marketing solutions check out our related e-book
‘The Lead Generation Guide’ Click below to download now Talk soon,
Andy Smith P.S. To chat further about ‘Lifestyle Tradie’ contact us: 1800 704 822
[email protected]
www.lifestyletradie.com.au
www.facebook.com/lifestyletradie
10
“ Easy to implement marketing methods to retain your current customers ”
Copyright Notices: All portions and components of ‘The Customer Retention Formula’ are copyright protected, and all rights reserved. No portion may be reprinted, reproduced, distributed, used in lectures or seminars, or otherwise disseminated without the express written permission of the author. Permission requests should be submitted via mail to the following address:
Published 2016 by Lifestyle Tradie Group Pty Ltd For further information contact: Lifestyle Tradie Group PO Box 330, Artarmon, NSW, 1570, Australia Phone: 1800 704 822 Fax: 1300 553 161 Email: [email protected] Website: www.lifestyletradie.com.au
A Letter From Andy... In 1999 my wife Angela and I (Andy) started Dr.DRiP out of the second bedroom of a flat below my parent’s home. 16 years on, we are fortunate enough to say that Dr.DRiP is a multi award winning, highly profitable and self-managing business. The success of Dr.DRiP has freed Angela, and myself up to spend more time with our family and achieve a greater work-life balance. With copious amounts of knowledge and experience in the trade services industry, Angela and I were inspired to help other trade business owners achieve the same sense of freedom that we were enjoying. From this our second business, Lifestyle Tradie, was born. Lifestyle Tradie is an educational platform that helps trade business owners overcome the tiresome battle of balancing work with life. The business empowers Lifestyle Tradie Members with tools and mechanisms that they can implement in their own business to achieve greater efficiencies and regain a the freedom they had before they became a business owner. Everything we teach has been trialled and refined in our Dr.DRiP plumbing business before being taught to Lifestyle Tradie Members.
‘The Customer Retention Formula’ provides details on two easy to implement marketing methods that you can use to retain your current customers and encourage them to use your services over and over again. This means less time, money and energy spent on trying to get new customers.
Continue reading to see how you can implement these two simple, low-cost marketing solutions in your business today.
1
Customer Retention DID YOU KNOW? Increasing your customer retention by 2% can have the same effect as reducing prices by 10%?
Customer retention is important regardless of the size of your business or what industry you work in. It is far easier to encourage a customer to use you again after they have already enjoyed your services, than it is to encourage a complete stranger to use your services for the very first time.
At Dr.DRiP we have analysed our customer data and measured that our repeat customers have a 28% higher average dollar sale than new customers. It make sense to invest in your database in order to encourage repeat customers.
2
Newsletters Newsletters are the most cost effective way to stay in touch with your existing database. When your customers receive emails from you, your business is more likely to be in the forefront of their minds when they or a friend require service in your particular area. Seeing a businesses logo and company colours on a regular basis, creates this brand recognition. A professional newsletter (one to two pages long) has an attractive template and clearly outlined sections for readers to browse. At Dr.DRiP we email out a newsletter bi-monthly. They are usually topical, whether it be holiday periods (eg, Christmas, New Year, Easter) or common problems experienced during a time of season (eg. Winter – hot water systems & burst pipes and Spring – blocked drains).
You can print it, email it or publish it online!
Easy Newsletter Ideas Examples of content that we include in our Dr.DRiP newsletters includes information about; ü
The company so all stakeholders can stay informed
ü
New technologies you are using
ü
Accomplishments e.g. awards, features in any news publications
ü
New products and services you are offering
ü
A profile of a particular product you use- list its features and benefits
ü
Special discounts and offers
ü
The employee of the month
ü
Topical news e.g. family news (such as the addition of a new puppy) or eventful jobs that we fixed (such as exploding hot water systems and major gas leaks)
3
Creating & Sending Newsletters Email Newsletters We recommend using an automated email marketing platform to design your emails. Two platforms we have used at Dr.DRiP are MailChimp and Active Campaign. There are templates available on these platforms where you simply input the content you want for your newsletter into your chosen template. If you tend to invoice your customers via email or collect their emails when they book, you should already have an electronic email list available to use. Upload this list to your chose email marketing platform and you will be able to send emails to all your clients at once.
Printed Newsletters People still LOVE to receive things in the post! As you have been to your clients houses in the past, you should already have the addresses for a mailing list. This is the perfect opportunity to utilise this information and stay in touch the old fashioned way! You can design your newsletter however you want. For your benefit we have included an easy-to-follow template on the next page.
4
TEMPLATE: Printed Newsletter
Front
Back
5
✔ CHECKLIST: Newsletter Musts: ☐ Brand logo & colours ☐ List your business info ☐ List the services you provide ☐ Testimonials ☐ Discounts and offers ☐ Employee profile Optional info for articles (include three or four per newsletter): ☐ New technologies ☐ Accomplishments ☐ New products and services ☐ Product profile (features and benefits) ☐ Topical news ☐ Work regulations or procedures (employee newsletter)
6
Membership Program We stimulated our Dr.DRiP Club membership program by making every client that was not already a member, a lifetime member.
An investment of $3,500 saw a return of $80,000 to date…and still counting. This is how we did it…in 4 simple steps!
1. We eliminated all clients that were already Dr.DRiP Club members. 2. We cut our database, based on how much they had spent with us, starting with those who spent the most, until all customers were included: ü Over $1000 ü $800 – $1000 ü $600 – $800 etc.
3. We started with a sample of 200 clients to see if this was a successful marketing venture. These customers received a personalised letter (name on envelope and letter). The letter read that the customer had been especially selected for our lifetime membership program, making them feel important and encouraging a long-term relationship with us. It specified the benefits they will receive to provoke them to book a job immediately. We also included a membership card.
4. We proved it was working, so we rolled it out to the remainder of our clients that were not already Dr.DRiP Club members. It is so easy to implement! Once your membership program is in place you can tell new customers at about how they can gain discounts by being a member and they will be more likely to choose your business again.
7
EXAMPLE: Membership Letter
8
✔ CHECKLIST: Membership Letter ☐ Company logo ☐ Personalised ☐ Loads of value ☐ Sign off properly ☐ Membership card attached Notes: ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________
9
Congratulations on completing
‘The Customer Retention Formula’ Now you know how to retain your existing customers using simple, low-cost marketing solutions. To learn about how to generate new customers using additional simple, lowcost marketing solutions check out our related e-book
‘The Lead Generation Guide’ Click below to download now Talk soon,
Andy Smith P.S. To chat further about ‘Lifestyle Tradie’ contact us: 1800 704 822
[email protected]
www.lifestyletradie.com.au
www.facebook.com/lifestyletradie
10
