Thoughts on how to retain existing clients and becoming an online expert

1. Customer
Retention
Marketing

3. Most Top Clients are
OK...
...it s the Moderates
& Low Value that go.

4. Understand
•Different aims with each
•Different behaviour
•Different approaches
•Different timing
•Different preferences

5. anything else?

6. On average, a
company loses
between 20-40% of
its customers
every year

7. this is called
Customer Attrition

8. or Churn Rate

9. Usually...
•Moderates & Low Value

10. CRM
Customer Retention Marketing

11. Customer retention is
less connected to
customer satisfaction
than we think

12. Understanding CRM
83% of satisfied customers
of financial institutions
said they are open to
competing offers.
Strativity Group, 2007

13. Catch 22 Cycle
Invest big money in customer
acquisition
Then, once they demonstrate emotional &
financial interest gradually drop the
level of service and increase the
possibility of defection
Repeat

14. Catch 22 Cycle
Over time, this increases the cost of
customer acquisition & decreases the
revenue per customer.

15. Catch 22 Cycle
Efficiency & Relationship are
conflicting strategies

16. Catch 22 Cycle
The customer relationship should be
seen as a process, not an end result

17. Most baseball pitchers
are rubbish hitters

18. they bail out of the
hit

19. We re bailing out on
our customers

20. CR Indicators
•Repeat business
•Purchasing ancillary
products
•Recommendations
•Paying premium price

21. CR Indicators
•Repeat business
•Purchasing ancillary
products
•Recommendations
•Paying premium price
All Measureable

22. •55% of 300 global
executives said that
their company didn t
really deserve loyalty

23. Employees
•Directly contribute to CR
•Complete performance is
directly linked to client
behaviour
•Analyse

24. Drive Perceived
Value
•Rational-Functional,
quality or cost etc.
•Emotional-Information,
communication, service,
trust or a combination

25. No standard schedule
for communication
•Cs express a desire for
info, only when it is
of personal value in
each message Lowenstein

26. CRM is like lasagne
with layers of
messaging & experience
over a period of time

27. We must...
•Communicate more
effectively & personally
with clients

28. In S&M we must be
pitchers & hitters

29. 5% increase in
retention can see up
to a 50%+ increase
in profits

30. Media
Possible

31. Podcasts, Screencasts, White
Papers, Reports, Articles,
EBooks, Wikis, Chatrooms,
How to..., Webinars, Sharing
Tools, Describing Trends,
Links, Press Releases,
Thought Leadership & more...

32. Customer Retention Marketing

33. Customer Retention Marketing
• Customers WILL leave you if you don t do
something to keep them

34. Customer Retention Marketing

35. Customer Retention Marketing
• 80% of satisfied customers are open to
offers from your competitors

36. Customer Retention Marketing

37. Customer Retention Marketing
• You must provide valuable information &
help that has nothing to do with your
business. Think of their business.

38. Customer Retention Marketing

39. Customer Retention Marketing
• Every customer is different. So,
personalise the support. Become a source of
valued information

40. Customer Retention Marketing

41. Customer Retention Marketing
• Start working as a real team. Leverage
strengths & cover weaknesses

42. Customer Retention Marketing

43. Customer Retention Marketing
• Use Google, BBC, BusinessWire alerts
etc.for up to date info about clients
competitors, market, products, blogs,
chatrooms etc.

44. Customer Retention Marketing
• Use Google, BBC, BusinessWire alerts
etc.for up to date info about clients
competitors, market, products, blogs,
chatrooms etc.
• Publish on BNET.com & Ezinearticles.com

50. •Come up with ways in
which you could use
these ideas to interact
with your clients.

51. •Titles & ideas for PodCasts
that could be created by
your company
•Think of the clients
•Must have value

52. •Package white papers &
articles as an EBook
•Valuable information

54. •Article, White Papers &
Report titles
•Free downloads bring traffic

56. Experts
Becoming

58. Experts Are Made, Not Born

59. Experts Are Made, Not Born
• Becoming an expert is about positioning

60. Experts Are Made, Not Born
• Becoming an expert is about positioning
• TV experts probably know less than someone
in your street. Why them?

61. Experts Are Made, Not Born
• Becoming an expert is about positioning
• TV experts probably know less than someone
in your street. Why them?
• Personal Branding is the future

62. Experts Are Made, Not Born
• Becoming an expert is about positioning
• TV experts probably know less than someone
in your street. Why them?
• Personal Branding is the future
• 11 Steps to becoming an expert

63. Gain Your Market s Trust

64. Gain Your Market s Trust
• Describe the biggest problems, hopes &
frustrations they face. Feel their pain

65. Gain Your Market s Trust
• Describe the biggest problems, hopes &
frustrations they face. Feel their pain
• Sort the list in 1st to last order

66. Gain Your Market s Trust
• Describe the biggest problems, hopes &
frustrations they face. Feel their pain
• Sort the list in 1st to last order
• Come up with 3 ways to articulate these
problems. This is rarely done.

67. Establish Your Persona

68. Establish Your Persona
• It must be a consistent character

69. Establish Your Persona
• It must be a consistent character
• It s a public presentation

70. Establish Your Persona
• It must be a consistent character
• It s a public presentation
• Think alter ego

71. Establish Your Persona
• It must be a consistent character
• It s a public presentation
• Think alter ego
• Choose traits & stances that reflect what
you re trying to achieve in the market

72. Establish Your Persona
• Researcher, Tycoon, Contrarian, Genius
Eccentric, Iconoclast, Fun guy, Angry
Intellect, Outcast, Professor, Optimist

73. Establish Your Persona

74. Establish Your Persona
• Share stories that show you know &
understand the market

75. Establish Your Persona
• Share stories that show you know &
understand the market
• Perfection is the enemy of effective

76. Establish Your Persona
• Share stories that show you know &
understand the market
• Perfection is the enemy of effective
• Choose 3 characteristics that would best
describe your persona type

77. Develop Your Market Vision

78. Develop Your Market Vision
• Most people treat vision & mission as
merely a fill in for the Website

79. Develop Your Market Vision
• Most people treat vision & mission as
merely a fill in for the Website
• You must fall in love with your market

80. Develop Your Market Vision
• Most people treat vision & mission as
merely a fill in for the Website
• You must fall in love with your market
• You must develop your own vision

81. Develop Your Market Vision
• Most people treat vision & mission as
merely a fill in for the Website
• You must fall in love with your market
• You must develop your own vision
• Why does the company exist. What s your
ultimate goal and dream for the market?

82. Tell Your Creation Myth

83. Tell Your Creation Myth
• Tell the world why you re in the market

84. Tell Your Creation Myth
• Tell the world why you re in the market
• Reveal your hopes, dreams & frustrations

85. Tell Your Creation Myth
• Tell the world why you re in the market
• Reveal your hopes, dreams & frustrations
• Do it with honesty & passion

86. Tell Your Creation Myth
• Tell the world why you re in the market
• Reveal your hopes, dreams & frustrations
• Do it with honesty & passion
• If not, you re a commodity, forever
cutting prices

87. Tell Your Creation Myth

88. Tell Your Creation Myth
• Steve Jobs & Steve Wozniak

89. Tell Your Creation Myth
• Steve Jobs & Steve Wozniak
• Phil Knight & Nike

90. Tell Your Creation Myth
• Steve Jobs & Steve Wozniak
• Phil Knight & Nike
• Dyson vacuum cleaner

91. Tell Your Creation Myth
• Steve Jobs & Steve Wozniak
• Phil Knight & Nike
• Dyson vacuum cleaner
• Lambourghini

92. Tell Your Creation Myth
• Steve Jobs & Steve Wozniak
• Phil Knight & Nike
• Dyson vacuum cleaner
• Lambourghini
• Even that nerd, Bill Gates

93. Develop Predictable Behaviours

94. Develop Predictable Behaviours
• Develop rituals for your market

95. Develop Predictable Behaviours
• Develop rituals for your market
• Predictable behaviour helps the market feel
they know you. They expect it.

96. Develop Predictable Behaviours
• Develop rituals for your market
• Predictable behaviour helps the market feel
they know you. They expect it.
• What s your catchphrase?

97. Become a Polarising Figure

98. Become a Polarising Figure
• Establish a strong point of view

99. Become a Polarising Figure
• Establish a strong point of view
• They want the opinions of experts

100. Become a Polarising Figure
• Establish a strong point of view
• They want the opinions of experts
• You want followers (& enemies)

101. Become a Polarising Figure
• Establish a strong point of view
• They want the opinions of experts
• You want followers (& enemies)
• If you were a customer, what would you want
changed? List the top 3.

102. Develop Phraseology

103. Develop Phraseology
• You set the standards & terminology

104. Develop Phraseology
• You set the standards & terminology
• USP, Risk Reversal, Strategic Alliances,
Thought Leadership, Seismic Shift

105. Develop Phraseology
• You set the standards & terminology
• USP, Risk Reversal, Strategic Alliances,
Thought Leadership, Seismic Shift
• Think of terminology & new phrases to
describe products or services in your
industry. Think of trademark systems.

106. Signature Communications Channel

107. Signature Communications Channel
• Monday morning email, video podcast, blog,
report or monthly newsletter

108. Signature Communications Channel
• Monday morning email, video podcast, blog,
report or monthly newsletter
• Pretend that you have to explain the
intricacies of your business to beginners.
What channels would you use?

109. Make Them feel Like VIPs

110. Make Them feel Like VIPs
• Establish with your audience that they
should be & will be treated like VIPs

111. Make Them feel Like VIPs
• Establish with your audience that they
should be & will be treated like VIPs
• They are relevant & important people, not
mere consumers

112. Make Them feel Like VIPs
• Establish with your audience that they
should be & will be treated like VIPs
• They are relevant & important people, not
mere consumers
• Create empathy with your clients

113. Make Them feel Like VIPs

114. Make Them feel Like VIPs
• Imagine your ideal client. What would you
do for them? How much are you prepared to
invest in them to keep them happy?

115. Make Them feel Like VIPs
• Imagine your ideal client. What would you
do for them? How much are you prepared to
invest in them to keep them happy?
• Work out the Lifetime Value of a client.
Then decide how much you can invest in
them.

116. Create Client Followers

117. Create Client Followers
• Word of Mouse is growing in importance

118. Create Client Followers
• Word of Mouse is growing in importance
• Research suggests that the best predictor
of future growth is the number of CFs

119. Create Client Followers
• Word of Mouse is growing in importance
• Research suggests that the best predictor
of future growth is the number of CFs
• Want to save time in the decison process

120. Create Client Followers
• Word of Mouse is growing in importance
• Research suggests that the best predictor
of future growth is the number of CFs
• Want to save time in the decison process
• Think of ways you can help your clients &
their clients and their circle

121. Create Client Followers

122. Create Client Followers
• Think up promotions, giveaways, bonuses,
free reports, anything that clients can use
to help themselves & the people they know

123. Create Client Followers
• Think up promotions, giveaways, bonuses,
free reports, anything that clients can use
to help themselves & the people they know
• Think virally

124. Create Client Followers
• Think up promotions, giveaways, bonuses,
free reports, anything that clients can use
to help themselves & the people they know
• Think virally
• Create some ideas that will motivate your
clients to tell others about you

125. Accelearte Through Mentors

126. Accelearte Through Mentors
• All powerful people have mentors

127. Accelearte Through Mentors
• All powerful people have mentors
• Who are the biggest names in your industry.
The celebrities.

128. Accelearte Through Mentors
• All powerful people have mentors
• Who are the biggest names in your industry.
The celebrities.
• What resources would you need to get these
people to participate with you? What sort
of project would interest them?

129. Should I, Shouldn t I?
No Yes
Doomed to obscurity &
invisibility
Lifts you above the
competition and gets you
attention
Spend a fortune on generating
traffic, leads & sales
Generates massive traffic, new
leads, new clients without
spending
You have to work harder for
less and less
Multiplies the money you earn
and bonuses

130. Overview

131. Overview
• Personal and/or departmental site

132. Overview
• Personal and/or departmental site
• Write reports, eBooks & white papers
• Secrets of...
• How to...
• The Truth About...
• 5 Ways to...

133. Overview

134. Overview
• Site based on WordPress.com
• Opt-in newsletter

135. Overview
• Site based on WordPress.com
• Opt-in newsletter
• Hosted by DreamHost.com

136. Overview
• Site based on WordPress.com
• Opt-in newsletter
• Hosted by DreamHost.com
• AutoResponder by AWeber.com