Did you know it costs you more to obtain a new customer than it does to retain a current customer?
In fact, 70% of businesses in one study say it’s cheaper to retain a customer than acquire a new one. They also say they get a better return on investment when they do the leg work to build a relationship with their customers.
You’ve probably heard the term “low hanging fruit.” This is a thing or person that can be won, obtained, or persuaded with little effort.
The low hanging fruit, or customer, is the place to start when it comes to increasing customer retention. It is much easier to create and nurture loyal customers than it is to get a brand new one.
In this article, we look at how to use automated email series to increase customer retention. First, let’s talk a bit about retention.
What is Customer Retention?
For your business, customer retention means the number of customers that come back and purchase from you again and again. Its direct opposite is customer churn – this is the number of customers who don’t buy from you consistently.
Customer retention hinges on several key factors:
It’s important to attract the “right” customers. This is your target customer – your ideal. The right customer has more potential to stick around.
The first activation is integral. By this, we mean encouraging your customer to take the desired action on your landing pages. Initially this may not mean they actually purchase something from you. It is simply the first action they take with your business. This activates them on their buying journey.
Follow up is also key to retaining customers. This is where lead nurturing and automated email is at its best. You want to do your best to spend time building a relationship with your customers to maximize retention.
How many more times can you send your customers an email before they deem your presence in their inbox unnecessary? This is a question we hear many times a day – how many emails are too many?
In this article, we’ll take a look at how to tell if you’re driving your customers crazy with too many emails.
One of the toughest questions any email marketer has to ask is, “How often should I send an email?” Many businesses want to know if there is an ideal frequency for sending emails.
The answer is “it depends.” It depends on the industry and the time of year. It depends on what you promised your subscribers. Later in this article, though, we will discuss some “general” recommendations for email frequency.
It pays to remember that the subscription to your email list is always your customer’s choice. You hopefully told them how many times per month you’d email them and what to expect. Now, it’s your job to keep them on your list by providing relevant content at the right frequency.