Customer Retention & Growth John Coburn
Customer Retention & Growth Means More Back-end Sales
Acquiring a customer could be seen as your first step in a long recurring process of front-end / back-end sales.
RETENTION & REFERRAL
Once you have acquired a customer, you will have made what is called a “front-end” sale. You have now started a customer relationship that provides you with future opportunities to cross-sell and up-sell that customer with additional products and services. This a repeat of your nurturing process but with a new contact (email) sequence focussed on your next “back-end” sale. A good term for this on-going process is called the “lifetime value of a customer” because it refers to all future sales you make to this customer, not just the next one.
While customer retention and growth through up-selling and cross-selling are the primary goal at this stage, new prospective customer referrals and advocacy are also worthy pursuits during the back-end process.
An additional “growth” objective at this stage in your sales process is to acquire on-going referrals / advocacy from your customers. Soliciting and even incentivising referrals should be an integrated part of your back-end nurturing process.
FRONT END SALE
The first sale you make to this client.
BACK END SALES
All future sales you will make to this client. Collectively referred to as the Lifetime Value of your Customer.
Switching to a new nurturing process targeted at up-selling or cross-selling this new client.
Now is the time to build relationships. Continue your journey as a consistent provider of value and exceed your customer’s expectations in that regard.
Whilst your higher level lead nurturing process is defined, you will have many such email sequences with Landing Pages that need refinement.
Although the effort to build and refine nurturing email campaigns and their associated landing pages is significant, the content is reusable and the process is repeatable.