Your business is as unique as your clientele. So, it makes sense that your retention and marketing efforts should be that individualized as well.
Why should you care about retention marketing at all? According to the Harvard Business Review, acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one. This means that putting your dollars toward retention may be a more effective business strategy than just focusing on new customer acquisition alone.
Don’t have any spare dollars to contribute to your retention marketing plan? Or maybe you’ve got dollars, but not enough time? That’s okay. We’ve developed retention marketing suggestions for any size budget or business, so you’re sure to find something that suits your needs.
Our options range from using the MINDBODY reporting you already have to develop a completely DIY retention program, all the way up to augmenting your software with partner or consultant services to supercharge your retention marketing.
Answer the questions below to determine what kind of retention program fits your business.
- What is your monthly revenue range?
- $5,000 or less
- $5,000 - $25,000
- More than $25,000
- What is your average monthly marketing budget?
- Less than $500
- $500 - $1500
- More than $1500
- What percentage of your first visits return to become long-term members or clients year over year?
- Don’t know
- Do you have a focused retention strategy for at-risk or lost customers? (Win-back emails, loyalty rewards, etc)
- How confident are you in your sales and pricing strategy?
- Not very
- Totally confident
- Do you have a process for following up with new customers?
- No/ I don’t know
- We follow up sometimes
- Yes, we have a plan in place for each new customer/visitor
- How mature is your business?
- 0-2 years
- 3-5 years
- 6+ years old
- What are your business goals for the next 12-36 months?
- Focus on developing a strong acquisition model to build/expand my customer base.
- I’ve spent considerable money/time building my client list, I want to make sure they stick around for the long run.
- My business is expanding and I’m ready to take over the world!