I mean, what did it cost you to acquire them?
Unless it was a referral (in which case, well done) then you have some sort of cost. Whatever your current marketing strategy, SEO /content, PPC, Youtube videos, podcast etc..
Is that an average figure? Do you know how much it costs you to acquire a new client?
And equally, do you know what your lifetime customer value (LCV) is?
I know, too many questions.
But you need to know the answers. Basically, your client needs to be making you a healthy multiple of whatever it cost to a) acquire them and b) keep them happy
Revenue – costs = margin/profit
Now, how do you increase that margin and so increase your overall profit for the business?
Well, you need to give your clients the opportunity to buy from you more often.
(this is rule #2 – what am I talking about? Read 50 Ways To Leave Your Lover)
And one of the most simple and profitable ways to do that is by sending them regular emails. I recommend daily – Monday to Friday if you’re B2B – but at very least, weekly.
You have an existing audience – Entertain them – inform them – and sell to them!
There are loads of ways to do this, check out my neat guide by popping your details in the box just there to the right…
Upsell & cross sell.
And then think about affiliate/referral deals with products or services that compliment what you offer. Negotiate a healthy % on any clicks that result in a sale for them.
One of the ideas in my guide is to feature your suppliers. If you buy components from them to make your product or provide your service, why not include that in one of your emails?
If you’re stuck for ideas, ask me.
Or book a call with me now to see how I can help you make more money with email marketing.