Why customer retention is the new acquisition
If there's anything the recession of 2009 taught us, it was theimportance of investing in our customers, but when was this anydifferent? So says Joseph Jaffe, bestselling author of LifeAfter the 30-Second Spot and Join the Conversation, anda leading expert and thought leader on new media and social media.In most businesses, it costs roughly five-to-ten times more toacquire a new customer than it does to retain an existing one, andyet companies continue to disproportionately spend their budgetsinto the "wrong" end of the funnel - the mass media orawareness side.
What we haven't paid enough attention to is the "right" end ofthe funnel-the word-of-mouth component that essentially acts as amultiplier for future business. The economic impact of an active,engaged and loyal customer is tremendous.
And the same is true of the opposite scenario, namely the impactof angry customers and negative word-of-mouth or referrals. It isthis thinking that Jaffe has channeled to challenge marketers to"flip the funnel" once and for all. With a renewed focus and energyon customer experience, it is possible to grow your sales, whiledecreasing your budget - in other words, getting more fromless. Engaging a few customers to spread the word to many.
Using this new "flipped funnel" model, together with a set ofnew rules of customer service and a revolutionary customer referraland activation process, you'll learn how to transform your existingcustomers into your best salespeople. In addition, Jaffe willexplain how to best introduce and combine both digital and socialmedia tools to boost your loyalty arsenal, deploy "influencermarketing" and implement word-of-mouth strategies that inspire yourloyal, opinionated, and most vocal customers to become credible,persuasive, and influential endorsers of your products andservices.
* Explains how to cut your marketing budget AND grow sales!
* Illustrates practical ways to use existing customers to reachout to new prospects
* Outlines the authentic role of social media
* Demonstrates key ideas with rich, real life examples includingComcast, Apple, The Obama Campaign, Dell, Panasonic, AmericanAirlines, Delta Airlines, Johnson & Johnson, Coca-Cola andmany, many more
* Written by one of the most sought-after consultants, keynotespeakers, and thought-leaders on new marketing change andinnovation; renowned blogger and podcaster at Jaffe Juice(www.jaffejuice.com) and host/presenter of web video show,JaffeJuiceTV (www.jaffejuice.tv)
Visit www.flipthefunnelnow.com to join the conversation.