This post is one in a series of five guest posts authored by the super star bloggers pictured below. As part of a celebration of National Small Business Week we are asking readers to match all five guests posts up with the contributing blogger to be entered for a chance to win an iPad2. Read all five posts in today’s series and come back each day this week for five new posts in this great educational series and another chance to win.
Joseph Jaffe is President of jaffe, LLC. His popular blog and audio podcast, “Jaffe Juice”, provides daily and weekly commentary respectively on all things new marketing. His latest book, “Flip the Funnel: How to use existing customers to gain new ones,” presents a powerful hypothesis that retention can become the new acquisition through the strategic incorporation and elevation of customer service, customer experience and customer initiated word-of-mouth, content creation and incentive-based referrals.
How Do I Get More Leads in the Top of the Funnel 6
Want more leads for the top of your funnel? Then perhaps you want to take a step back and think about WHY you needed those leads in the first place. Did you not have enough customers to begin with? Or perhaps you just didn’t convince them to spend enough….keep coming back for more….and tell others about it. Or perhaps you just lost them – through poor customer experience, service or support, or just plain apathy (being forgotten)
Unless you’re a new business without a very short track record, getting new leads is really not your problem at all. Your real problem is churn. Attrition. You lose customers and try and constantly try and replace them with new blood. You are addicted to acquisition as you cast out that wide net, which just happens to be full of holes.
And you’re not alone.
But what would happen if, instead of ending with the sales conversation; the new customer, you began with the customer purchase? What would happen if you focused on the 20% of your customers responsible for 80% of your revenue? What would happen if you rewarded and recognized your lifeblood instead of wooing imperfect strangers or first time buyers with a slew of deals, discounts , special offers and/or coupons?
Would they pay it forward in return?
If Community 1.0 and 2.0 were the buzzwords of the original digital and more recent social media waves, then advocacy is going to be the next wave that crests and breaks on the shores of marketing engagement and innovation. Using existing customers to gain new ones by proving that retention is the new acquisition is a whole new paradigm that goes back to the future in order to demonstrate that word-of-mouth is most influential and credible when it comes from the hearts and minds of actual customers.
This is ultimately how a small, growing or even larger business can grow its revenue, customer and content base from the inside out by adding new leads to the traditional funnel without necessarily having to sacrifice any on the back end.
It’s good business sense. It’s common sense. And it’s a surefire way to add substantial dollars and cents to your top line growth and bottom line profitability.