So far, perhaps you’ve seen that newsletter marketing is a proven marketing tool that helps you to build an all-important fence around your customers or clients.
But how exactly does producing a newsletter benefit you and your business?
Over the next few editions, we will show you seven secret ways newsletters bring sweet success.
Here’s the first one.
Newsletter Marketing Secret #1: Newsletters Help Keep Customers
No matter what business you are in, your current customers hold the best prospect for future growth.
According to research from Bain and Company, getting business from your current customers costs about a fifth of what it costs to acquire a new customer.
Not only that, the longer they are customers, the larger their average order is likely to be and the more products or services they’re likely to buy.
The 80/20 Rule of Marketing says that 80 percent of a company’s profits come from 20 percent of its customers.
However, this is backwards from what most companies, especially small businesses, do.
Most businesses spend the majority of their marketing time and resources trying to acquire new customers.
That makes no sense.
It is so much easier and quicker to sell to your current customers.
So the right thing to do is to spend 80 percent of your marketing dollars continuing to grow and nurture these existing relationships.
You already have an established relationship with your current customers.
They have already purchased from you.
They find value in what you’re selling and they trust you.
This is a huge hurdle that we all have to overcome when we are prospecting for new customers – a hurdle that you’ve already overcome with your current customers.
A regular newsletter helps you stay top-of-mind with your current customers.
Your newsletter arrives – and instantly your customers are thinking about you.
After receiving your newsletter on a consistent basis, your customers actually begin to look forward to receiving it.
Your newsletter becomes a welcomed friend.
Your readers are curious to see what tips you are sharing with them this issue.
Issue after issue, your newsletter reinforces your relationship with your customers.
It makes your fence stronger.
It also gives you a way to tell current customers about products and services you provide that they may not know about.