I try really hard to help people who ask me for it regardless of their situation but I have had frequent instances where a person will say something to me that drops my jaw and I just say, ‘No, this person isn’t cut out for it.’
I tell you the story and it’s not a joke at all, I was working with a young woman who was working on an offline SEO service and her plan was to make cold calls and sell SEO and reputation management services. And so I started talking about the follow up process about building referrals to boost your business beyond the period of making cold calls and she said with a straight face, ‘I don’t really care about what happens to the customers after they give me their money.’ I was so flabbergasted that I couldn’t even laugh.
This seems like a made up story but if you talk to anybody who’s been in this business for a while, you’ll run into someone who says something similar or exactly like that, whether it’s over the phone, whether it’s on a private forum, whether it’s on a Skype room, there are a lot people like this out there. The problem is they don’t realize that they aren’t just hurting themselves short term, they are hurting themselves long term. I don’t blame them so much because they might not know any better or they might just be desperate for a sale but the fact of the matter is that their ignoring the crucial concept, the lifetime value of their customers.
Benefits of Lifetime Clients
This idea is so basic but I see everyone from small time marketers to Fortune 500 companies completely blowing this idea. But look, here’s the idea of a lifetime value, every customer who you spend your time, your money, your energy drawing into your business has a life cycle. The clock starts ticking from the very moment that they purchase to buy a button from you for the first time. Believe it or not, once that cycle is finished, the customer no longer needs you and will not buy anything from you again under any circumstances. In some businesses, that cycle will not end until the customer kicks the bucket.
If you ever thought of the insane brand loyalty people have to Apple computer or Ford trucks or Chevrolet, you can’t possibly imagine people who are loyal to those brands ever driving, using, or eating from a competitor. A good example is when someone purchases house from a real estate agent that they trust or has a great experience at a car dealership, they will come back again and again and again because they found something and someone that they can put their faith in.
That’s why real estate agents and car dealerships bend over backwards to get customers. They’ll offer them free test drives. They’ll offer them huge discounts on services to the car over the life of the vehicle. They’ll offer insane cuts on their commission. They will do whatever it takes because they recognize the value of a customer and I think you should do the same thing.
Very few people understand that when their marketing via email or via Facebook or via SEO, they have to show value before they can really receive the benefits of a lifetime customer.
Caring For Your Customers
So do yourself a favor: just get off the nonstop pitching carousel and really ask people what you can do to serve them and then work to create content that actually solves those problems. You’ll find that this works on automation once you’ve actually spend the time to talk to incoming customers.
If you can make good content, if you can syndicate it to others, if you can hold on to those new customers and grip them tight, you’ll learn that the cost of acquiring a customer is infinitely more than the cost of retaining them. Keeping a customer is cheap, all you have to do is show empathy and dedication.