- Amongst the highest of all expenses in your business are the acquisition costs of gaining new customers.
- Your existing customers are more likely to buy from you again.
- Existing customers are more likely to upgrade or buy a premium option in the future.
- Existing customers are more likely to send referrals.
These are all reasons to focus on customer retention. A newsletter is an effective means of customer retention as much as it is a relationship-building tool for prospective customers.
You may remember the example from Chapter 3 of Marketing Battleground – some business owners mistakenly believe that taking care of their customers and delivering on promises leads to loyalty. Those two things may lead to customer satisfaction, but it takes more effort than that to earn their loyalty.
A newsletter is a tool that will help you build trust and relationships with prospective and existing customers. A newsletter from you will lead to more loyalty from existing customers because you share insight and interesting information that may be entertaining, educational, revealing and/ or helpful.
We’ve provided a beginning checklist to launch your newsletter:
Commit to a period of time – If you “try” a newsletter for two months and don’t have sales to count or any other result you expect, don’t give up. A newsletter may take more than a few months to harvest the benefits.
Have an editorial calendar – On specific days each month, prepare newsletter content and your updated mailing list. Otherwise you’ll end up stretching out time between newsletters. It should be sent out every 30 days.
Get help – Knowing what to put in your newsletter and creating content is the toughest part. You can buy generic content (not recommended) or use custom content. You can also offer content with a mix of both. Either way, getting help from a newsletter expert may be the only thing that will lead to successfully launching your newsletter and then consistently sending it. (We offer a newsletter program for select companies. Inquire on our contact us page.)
Mostly entertainment and value – Your customers are not as interested as you are in the specific details of your product and service. Your newsletter should be primarily entertaining with a mix of business information.
For an extensive checklist, or to schedule a consulting call to discover how to launch your newsletter successfully, go to our contact us page.