In order to thrive and survive in business, business owners must embrace a lot of techniques and tactics. A customer retention strategy is critical because it’s far more effective than any other marketing strategy when it comes to increasing revenues and driving a return on your marketing investment. Acquiring a new customer can cost five times more than retaining an existing customer. Increasing customer retention by 5% can increase profits from 25 to 95%. The success rate of selling to a customer
One of the constant battles I struggle with companies is to stop thinking about what they do and start thinking about why people use their product or service. I’ll give you a quick example… day to day, you’ll find me recording and editing podcasts, writing integration code, implementing third-party solutions, and training my clients. Blah, blah, blah… that’s not why people contract my services. They could get any of those services on Fiverr for a
The folks at Mashable have put together this infographic on 30 days of Marketing Buzzwords. As a guy who can’t stand marketing speak, I always appreciate when we take a good look at marketing BS. I’ll be honest, though, and admit that I think this infographic just may be full of it. Terms like agile marketing, infographic and gamification aren’t marketing buzzwords, they’re actual terms that every marketer needs to fully understand. And my biggest
Regardless of price, value is always determined by the customer. And often, that value will rely upon how well the customer leverages your product or service. Many software or a service (SaaS) vendors utilize value-based selling to determine their price. That is, rather than pricing out a flat monthly rate or a rate based on usage, they work with the customer to determine the value the platform can provide and then work that back to
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