What Magazine Publishers Can Teach You
Making a sale is a happy event. But magazine publisher have known for decades the true celebrating begins when you get the second order from your customer.
Here’s why:
Magazine publishers have known for decades that their renewal rate goes up dramatically after the first renewal. 65 out of 100 new subscribers will re-subscribe. And after that, 85 percent of subscribers will renew. Those numbers are similar for any business that has a customer, client or patient.
Magazine publishers also know regular and frequent communication will increase first time renewals to around 80 percent and other renewals to over 90 percent.
Imagine what this kind of client retention would do for YOUR business!
So enjoy that new sale of your product or service. But the true reason to feast and make merry is not until your customer purchases for the second time. Only then do you have the beginning of a buying habit (i.e. clients for life).
That, my friend, is called customer retention.
And nothing works as effectively at generating more repeat business as a monthly customer newsletter.
My Exceptional Living Newsletter makes sending a monthly client newsletter quick, easy, painless, and profitable. Our newsletter template is online and 95% Done For You.
So, start regular communication with your customer or patient… and get that second sale. It will not only be easier than the first, it will also be more profitable because you have the beginnings of a relationship.
If producing a full blown newsletter on your own is just too daunting, head over and check out my hot new customer relationship, business building tool, WebtoPrintIQ.
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Let’s make it happen.
-David Gruttadaurio
“The Print Newsletter Expert”
Clients for Life, Newsletter, client newsletter, custom newsletter, customer newsletter, newsletter template, newsletters, patient newsletter, relationship marketing