RETENTION RETENTION RETENTION

Can you guess what the word of the day is?  That’s right, it is Retention.  You know what it means, but is your business doing everything it can to retain the customers who visit you?  In order to grow a business you must do two things, acquire new customers and keep them around for a LONG time.  Yet, studies show that businesses are over 3x more likely to focus on acquisition efforts compared to retention efforts.  This post will focus on why retention is important necessary  CRUCIAL to your business plan.

Retention Makes More Money Honey

According to estimates, around 80% of future revenue for businesses come from just 20% of existing customers.  And it is not hard to figure out why, existing customers are easier to sell to.  They are comfortable, they know your business.  The likelihood of converting an existing customer to buy from you again is 60-70%, while the likelihood of converting a new prospect to purchase is only 5-20%!  Are you playing the odds correctly?  By focusing your resources to improve the way you retain customers, your company has the potential to generate a significant amount of revenue.  The more you retain, the more money you have to spend on gains.

Retention Has Less Cost Boss

The cost of customer acquisition (CAC) have been estimated to cost 4 to 10 times more than the cost of retaining an existing one.  Not to mention that existing customers are familiar with your business and require a lot less hand-holding and understand how to go through the process and where to get help to solve any problems they may encounter.  As a result, existing customers are a lot cheaper to provide service to.  And your existing customer base is a golden source for referrals, therefore efforts you put into retention will help grow your customer base.  Keeping customers around for the long haul means you’re delivering a great experience and you can turn your happy customer’s success stories into case studies to bring in more prospects.

Retention Is a Marketing King

Not only do your retention efforts generate revenue, they also give you a lot of insights on how to improve your marketing effort to acquire new customers by letting you know what content you need to communicate to prospects, and who you need to be targeting.

Welp, How Does DeliveryMaxx Help?

By now, you’re probably familiar with many aspects of the DeliveryMaxx program,  (If not feel free to check out some of our older posts or http://deliverymaxx.com/why-deliverymaxx.html) but are you aware of the DeliveryMaxx tools that allow you to lead an unparalleled focus on retaining your customers?  Not only are all of your customers being followed up with messages congratulating them on their purchase, reminders to provide a review of their experience online, Happy Birthday wishes, and additional messages on the anniversaries of their purchase, you also have the ability to take it a step further with custom video messaging that only takes a few short moments to create.  You or your staff can film short video clips that will be sent out thanking them, wishing them a happy birthday or holiday, reminding them they have a service date coming up, and more!  You can create custom messages with a highly personal touch keeping you and your business in the front of their minds for years to come.

So, why are you still reading this?  Open up the DMAXX App and start building a lifelong relationship with your customers today!

How will Social Media Help or Hurt Scholarship Opportunities

Stories continue to come out which show student athletes whom are losing their scholarship due to posts made on social media.  It is unfortunate and will continue to become more and more prominent.  Recently the NCAA has ruled that college coaches are allowed to “click, not comment” on social media posts by prospective student athletes.  This means college coaches can friend, like and even share the prospective student athletes post.  This new ruling already is having a dramatic effect on college recruiting.

If you are planning to become a student athlete it is very important you are educated on the impact social media will have on your future.  The use of profanity, images of you with alcohol, bullying, and wearing skimpy clothing are all examples of how it may cost you a scholarship. It’s not just the scholarship you should be concerned with either. College admissions offices and employers are also going to be using social media to better understand what kind of candidate you are.  In addition, colleges and employers are viewing the pages you are following, liking, and posts you are sharing.  Remember your mother saying, “Be careful of the company you keep?”  As a side note, I had a coach who always tells his players that you can never outrun your reputation.  That rings even more true in regards to social media!

Now that doesn’t mean don’t use social media.  Social Media can be used to share with the world what type of person you really are.  Think of social media as a platform to share with colleges, coaches and even potential employers that you are a positive role model for their program.  Remember, your image is going to be plastered throughout the institution, on the media guides as well as their social media network.  It’s fine for you to have some silly images of yourself, but be conscious that your page contains no profanity, and understand the balance between sharing how hard you are working outside of your select or high school programs.

Social media is not at all bad. It actually can be used as a powerful recruiting tool to gain exposure.  DeliveryMaxx highly recommends putting together short video clips that can shared on your personal social media accounts such as Snapchat, Instagram, and Twitter. We even suggest creating a Facebook profile or fan page. This is a great place to check in at tournaments, share articles, video and pictures. Although some of your peers may not utilize Facebook, the college coaches who are recruiting you are using it.  DeliveryMaxx customizes a mobile App that will allow you to build a personal profile page that college coaches can easily look at as well as allow you to share all of the great things you are doing throughout your network.

A great recruiting tip is to follow all of the college programs that interest you. The coaches post awesome clips of their athletes in practices, matches, traveling, and site-seeing. It’s fun to follow and it is easier to stay up-to-date when you are sending your own updates. You can take the time to personalize your emails to them to reflect their record or upcoming matches. You will also get a better feel for what the next level is really like and whether it’s for you.

Good luck with achieving your dreams of becoming a student athlete and remember everyone is watching!