December 21, 2021

Customer Loyalty

I wrote a thread on Twitter over the weekend that was allegedly read by 120,000 souls. Who knows if that is true?

What was the thread about?

Customer Acquisition vs. Loyalty.

You already know that my view on the secret of business success is in low-cost customer acquisition programs. Programs, not campaigns. Eating, breathing, sleeping customer acquisition. Not just paying Google+Facebook money.

After Christmas, I am going to spend time modernizing a lot of the writing I did back in 2006-2007. We're at a point now where decades of vendor lies about retaining customers and nurturing loyal customers (spread primarily to foster purchases of vendor products that facilitate customer retention and loyalty) results in a gaping hole in the marketing landscape.

You will be the person who fills that hole.

We need to get back to understanding why a business grows and thrives. If you sell merchandise that a customer only needs 1-2 times per year, you might have loyal customers but you won't be able to use "loyalty marketing" to push that customer beyond what the customer naturally wants to do.

So that's what we are going to talk about after Christmas.


P.S.: You said you want a homework assignment over Christmas? Ok. I want you to write 500 words about why the phrase "It costs eight times as much to acquire a customer as it costs to retain a customer" is complete nonsense.

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