What would you spend your money on?

I'd spend it on a luxury spa break. Or chocolate.

I guess the question really should be if you had £699 to spend on marketing, what would you spend it on? 

Let me tell you about my friend Sally. Sally campaigned in the local elections earlier this year. She had a small marketing budget. And it went on a few thousand flyers. But then it took teams of people to take to the streets to deliver them. Upping the marketing budget in terms of time and effort.

How effective is flyering? It’s largely an unknown, we don’t know how people react to finding a flyer on their doormat, if they read it, keep it or bin it. Unless you happen to be delivering a leaflet to next door when someone returns home and takes great pleasure in ripping your flyer up in front of you face. OK that’s the extreme. But it did happen to Sally! Typically, the conversion rate of a flyer is less than 1%. For every 1,000 leaflets you might get 10 enquiries and if you are lucky 30% of those convert into a new customer.

What’s the alternative?

You might be thinking email marketing and social media. But remember those email stats from the webinar?
20% average email open rates, and the most effective social media posts being other buyer's reviews.  So, you won't be surprised to know that I’d spend that money on retention marketing. I would invest that budget in keeping my customers coming back for more.

If you’ve calculated your customer lifetime value then you’ll know how much a customer is worth and how much you can spend to attract a new customer. So, with £699 to spend, how many new customers would you be able to attract? Remember, I told you about one of the companies I’ve worked with spends £100 to acquire each new customer. So that could be 7 new customers.

But how would you like to have 14 existing customers purchasing from you instead? People who have already bought from you two or three times before have a 45-54% chance of purchasing again. But not only that they are also more likely to spend more. Either upgrading to a higher ticket product or service or increasing the average number of products or services they buy. For me it’s a no brainer. That’s why I’m running RETAIN – a 12 week programme to help you create the retention marketing campaigns you need in your business to keep customers coming back for more.

This is the first time I’m running a 12 week live support programme so as a thank you to first people to join me I am offering an exclusive beta price of £699. I only have 5 places left at this price. Then the programme goes up to £1,299 at full price. For less than £60 per week you will get group training and 1:1 support to implement a retention marketing strategy in your business.