You know how to attract new customers. You’ve done the work and got your lead magnet correct. You’ve done the market research and even get great initial sales. Yet… you’re experiencing stagnant business growth. You haven’t had an increase in profit yet though you’re consistently bringing in new leads… what gives?
Even worse, since your business isn’t growing you’re continuously on this “new customer” hamster wheel where you’re constantly looking to grow your leads. You’ve invested in the latest and greatest Facebook ads strategy or Google ads or even Facebook group marketing. But you’re still not growing and since you’ve been in this stagnant place you’re constantly working!
Constantly working and haven’t been on a vacation in a hot minute. Haven’t had a date night and haven’t had a girls’ night out. You’re constantly focused on growing this business because you believe you need more more more leads. But this business isn’t giving you the freedom lifestyle you intended and it may even be causing a rift in your relationships!
STOP!
You don’t have a lead problem! If your business growth is stagnant but you ARE making money, leads aren’t your issue!
But… if leads aren’t the issue… then what is?
Well, this might be a shocker but here’s something that’s rarely spoken about in the online business space… RETENTION.
As you can tell by now lead generation is expensive. It eats time, money, and energy, and only two of those are renewable resources.
“It’s cheaper to keep ’em”
But the phrase “It’s cheaper to keep ’em” is TRUE (at least when it comes to online business). If your business is experiencing stagnant growth then you don’t have a leads problem… you have a retention problem.
“Profit Is made after the first purchase” -Brittany
Do you think Starbucks grew to millions by constantly getting new customers? You might think that but it’s really the fact that they KEEP their customers that’s lead to their massive growth.
If the remedy to stagnant business growth is retention how do you retain customers who’ve already purchased from you?
This comes to down to one word: Relationships.
When you build a relationship with those who’ve purchased from you in the past you increase the likelihood that they’ll purchase SOMETHING else from you in the future as well.
Here are 3 things building a relationship with your customers allows you to do.
- It allows you to ascend and deepen the relationship and their transformation through new products
- It allows you to become their trusted advisor which is a much deeper relationship than just being seen as a thought leader
- It allows you to refer and collaborate with them.
If you’re experiencing stagnant business growth then it’s time to look at how you’re retaining your existing customers. Ask yourself these questions:
- Am I deepening the relationship with my customers by adding products that allow them to deepen their transformation or get better results?
- Am I educating them, entertaining them, and keeping them informed with authentic, transparent value?
- Am I building a relationship that allows them to refer my business or allows them to directly collaborate or partner with my business?
If you answer no to any of these questions then “not enough leads” isn’t your problem. Retention is. And the retention problem is being heightened by the lack of relationships problem.
If you are experiencing stagnant business growth maybe it’s time to look at how you’re using email marketing to retain customers for the long haul to truly scale your business for more profit, impact, & ease.
Get the welcome email template below to get started today!
