One of the biggest things we all focus on is getting loads of leads and then working hard to turn them into customers.
But boy is that hard sometimes!
Taking cold leads who have never heard of you before and turning them into paying customers, handing over their hard earned cash, can be really tough!
That's why the real money is made from the people who are already customers and getting them to buy again, and again.
If you're wondering how on earth you make that a possibility for your business then wonder no more…Troy Broussard is here with us to reveal all!
- Too many people focus on getting leads when they should focus on getting customers and then keeping those customers engaged.
- A customer list is way more valuable than a leads list.
- Understanding the difference between business and marketing is really about customer engagement. Business isn’t about the first sale, it’s about the repeat sales.
- The main focus should be on customer retention, expansion, and engagement.
RFM = recency + frequency + monetary value
- RFM allows you to rate every customer numerically, objectively (important), within how recently they purchased, how frequently and how much they spent.
- You get a 3-digit number that allows you to segment your list intelligently into 15 different buckets that will allow you to customise and tailor your marketing based on the way people are engaging with you.
- If someone hasn't purchased in over 90 days that should maybe trigger a specific campaign to that customer – very clever!!
- It allows you to talk to people appropriately based on their actual buying habits.
- This will change slightly from business to business.
- For traditional info-marketing or education business, anything above 60-90 days is starting to get into the warning zone of whether people are dying off.
- You know your customer is disengaged when they have stopped buying from you when you still have more products to offer.
- If a customer becomes disengaged it’s usually because they’re not resonating with you, your pricing or your offer.
Step One:
- It's really obvious but a lot of people still don't do it – actually email your list.
- So many people go through all the effort of getting a list together, then they give up on it when they don’t immediately get sales.
- Instead, you should have a long-term email campaign plan with long-term nurturing processes.
Step Two:
- Increasing your email volume will absolutely increase your customer value.
- I have never found a case where sending more emails didn't generate more revenue.
- In a recent study I compared people who email daily against people who email 2-3 times per day and the people who emailed more made more money per subscriber!
Step Three:
- Be more transparent in your emails.
- Let people get to know you. Open up to them, tell them stories, invite people in and build relationships with them.
- You will gain trust and when they trust you they will buy from you.
- You can avoid reduced engagement by producing value.
- Value doesn't mean always giving away tips and information, it can be your normal experiences and stories.
- You should tell stories with a purpose with lessons that people can take away and apply to their own business.
- People stay on my list for years because of the value provided.
- I still include an offer in every single email but it doesn't look like an advertisement because it has deeper value.
A book that you would recommend…
Letting Go by David R. Hawkins
What is your top success habit?
Waking up very early, usually around 4-5am! Also doing meditation 3 times per day.
Who do you look up to?
Steve Jobs for his key focus on simplicity and his understanding of how to earn the trust and allegiance of his audience.
How do you define success?
Doing what I want, when I want, where I want.
Here the big one…who do you like more, Rob or Kennedy?
It's gotta be Rob, just for the hair – total hair envy!
Finally, where can folks go to find out more about you?
You can find out more about Troy over at troybroussard.com
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