Customer Success and The Business Growth Theorem

Customer Success (Loyalty) Helps Crush Sales Quotas

Axiom #1: If Your Business is Not Growing, Your Business is Dying.

Axiom #2: Maximizing Retention & Minimizing Churn is as Equally Important as Acquisition.

Axiom #3: Customer Retention = Repeat Business = Lower Cost of Acquisition = > Profit

Axiom #4: Customer Retention is a Measure of Durability.

Axiom #5: Churn is a Significant Limiting Factor to Growth.

    _______________________________________________________

Business Growth Theorem:

 G = (A + R) – C

 Growth = (Acquisition + Retention) – Churn

    _______________________________________________________

Typical Acquisition Vehicles

Direct marketing, Referrals, Networking, Tradeshows, Cold Calling, Print Advertising, Affiliate Programs, Distribution Partnerships, Pay-Per (Impression, Click, Conversion) Campaigns, PR Campaigns, Social Promotions, Banner Ads, Directory Services, Email Marketing, Direct Website, SEO, Unique/Optimized User Experience (UX), Targeted Landing Pages, Blogging, Mobile Messaging, Mobile Advertising, LinkedIn/Facebook Groups, Webinars, 3rd Party Reviews, Video Content / YouTube Channel, Comparison Shopping Engines (CSE), 3rd Party Marketplaces.

Treat Every Lead Like Gold…Even the Ones You Don’t Like!

Typical Methods to Increase Retention & Decrease Churn

You’ve done the HARD work…Now DON’T BLOW IT!

Retention is more about follow-through and the overall customer experience than anything else.  So a commitment to Optimized User Experience – from Website to Fulfillment to Customer Support is a good place to start.  Here are a few things that enhance a customers’ perception of you and elevate their desire to continue a relationship with your business: Visual Appeal of your Brand and Website, Ease of Site Use, Responsive Mobile-Friendly Site, Intuitive Search Tools, Relevant Industry Resources, Clear Content, Concise Communication, Consistent/Predictable Follow-Up, Prompt Fulfillment & Delivery, Ongoing (Non-Obtrusive) Engagement, Prompt & Courteous Attention to Problems and Issues, Proactive Promotions, Authentic Customer Care, – and 2 Critical Principles…

Be Grateful – THANK Your Customer for Choosing You

 Under-Promise and Over-Deliver Every Time

Need more information and practical advice? Send inquiries to mark@ecommadvisor.com
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About ecommadvisor

E-commerce enthusiast, evangelist, speaker and consulting leader. Founder of several successful e-retail businesses including grapevinehill.com - #1 footwear retailer in the world on eBay and Amazon. Now a full-time consultant, helping small to mid-sized businesses worldwide achieve their multichannel sales and marketing goals.
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