How To Create A Complete System To Acquire & Retain CustomersRuth-Ellen
Does your funnel have a hole in it?
Do you know how to attract a customer but after the attraction stage, everything seems to fall flat?
Are you getting likes, views, and engagement but little to no sales?
Sometimes I believe we should all think like we are in startup mode.
Because often time in scale-up mode we can become complacent and have big gaping holes in our processes.
What happens when you don’t fix your funnel?
I have many clients and leads that come to me initially wanting to increase their social media, they want more likes, more engagement, but that doesn’t equate to sales.
We are in a culture where vanity metrics like views, likes, and shares have made us lose focus on the bigger picture.
The bigger picture, the thing that we should always focus on is SALES and that all the activities we are spending our time doing (including executing our content strategy) have to be in alignment with getting the sale.
Our content strategy is just one element of the sales process
Your sales performance in your business is a result of the sales processes you have in place.
Making sure you’re focused on activities that result in sales is an essential component of the process of planning which will impact your performance for the better
Here’s the thing a sales process can be as complicated or as simple as you want.
How do we fix your funnel?
There is a 5-step process for start-up growth called Pirate Metrics a concept that Dave McClure (angel investor and now head of 500 Startups) that I always make sure my clients work on in order to see growth.
These are the five areas most crucial for startup growth to focus on.
The process consists of the focusing on acquisition, activation, revenue, retention, and referral strategy (AARRR).
And this AARRR process is probably the easiest way to stay on track when it comes to a complete end to end process of how to acquire a customer and generate revenue on repeat.
Everybody wants a passive income business, but there is no passive without a system. But remember this is a system, in between all of this are the methods, without having a method to implement all of this you’re just making plans.
Below are a few questions that you may want to have think about for before you even start throwing more money at websites, marketing and any other things you believe you need to make money. This is all about optimizing what you’re already doing not starting from scratch.
What process will help you fix your funnel?
To really track the success of your acquisition numbers, you need to track how many people you convert into customers.
- How are you going to acquire a customer?
- Which specific social media channel do your customers actually buy from?
- What is the cost to acquire each customer (customer acquisition cost – CTC)?
The task is not to only get people signed up but to also get them to use your service so they see the transformation in their life.
- What does your onboarding sequence for our new customer look like?
- What journey does the customer take when they join?
- What type of customer stays and which ones opt out?
Acquiring a new customer is 5 to 10 times more than retaining an old one. Think about it, it is easier to upsell a customer that has already bought from you rather than go out and chase new business, you’ve already got that no, like trust factor.
- How do we delight our existing customers?
- How can I increase the average lifetime length of our customers?
- If a customer makes a decision to leave what is the sequence we implement to reduce this churn?
I don’t recommend companies that are pants, in fact, I do the opposite and tell people not to use them, after all, I am not one go down a tunnel of destruction. However, when I do refer, an incentive can often mean the difference between a casual comment and a structured approach. The structured approach helps the company see where their referral traffic is coming from which always great for business.
- How do I encourage my existing customers to refer their network to me?
- What element of the multi-channel referral programs can be improved?
- How are we measuring the success of our referral programs?
Sometimes it is just taking the time to optimise your engagement, pricing and sales funnels that will allow you to see growth
- How do we delight our existing customers so that they become raving fans?
- How can you increase the lifetime value (LTV) of each customer?
- Which pricing models need to change for customer clarity?
If you are perplexed by these questions then why not jump on a call with me to find the quickest route for you to ‘Get More Sales’ click the button below:
Watch the Periscope replay below to find out more about the end to end process
— Ruth-Ellen (@saleswithruth) September 12, 2017
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