What are you chasing after with your left over capital each quarter? Transferring that cash into promotional advertisement to attract new clients? Or, potentially you might take some of your hard earned cash-flow and add new a line of communication for the fans you already have in your circle. Always remembering that it is far easier to convert a sale on a new client that is recommended from a fan then it is to create a generic new client.
“Consider this hierarchy: Strangers, Friends, Listeners, Customers, Sneezers, Fans, and True Fans. One true fan is wroth perhaps 10,000 times as much as a stranger. And yet if you’re in search of strangers, odds are you’re going to mistreat a true fan in order to seduce yet another stranger who probably won’t reward you much.
Let’s say a marketer has $10,000 to spend. Is it better to acquire new customers at $2,000 each (advertising is expensive) or spend $10 a customer to absolutely delight and overwhelm 1,000 true fans?
Or consider a nonprofit looking to generate more donations. Is it better to embrace the core donor base and work with them to host small parties with their friends to spread the word, or would hiring a PR firm to get a bunch of articles placed pay off more efficiently? ”
Critical thinking needs to take place before you squander away any more of your funds on marketing campaigns that direct a bunch of uninterested people to your product that very few actually convert on! Work on the inside-out approach to client acquisition. Goodwill snowballs from your pleasing your fans first and allowing them to sell on your great work and service!
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