Bill Fotsch’s Post

𝐖𝐡𝐚𝐭 𝐈𝐬 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐋𝐢𝐟𝐞𝐭𝐢𝐦𝐞 𝐕𝐚𝐥𝐮𝐞 𝐀𝐧𝐝 𝐇𝐨𝐰 𝐓𝐨 𝐂𝐚𝐥𝐜𝐮𝐥𝐚𝐭𝐞 𝐈𝐭 𝐄𝐚𝐬𝐢𝐥𝐲? In today’s fiercely competitive business landscape, companies are constantly grappling with the challenge of attracting and retaining customers. A pain point that many businesses face is the struggle to maximize the value they derive from each customer. Traditional marketing strategies often focus on short-term gains and immediate transactions, failing to recognize the immense potential of nurturing long-term relationships. Read Complete Article: https://lnkd.in/dXbWQDyg #martech360 #marketingtechnology #artificialintelligence #customerexperience #CLV #Customerretentionvalue #B2B

"What we've found by using Shark Finesse to build these analyse with the customer is that they are much more detailed, much more believable, and business cases get signed off quite a lot easier." - Adam Spurr, ANS Group. By investing in the Shark Platform, ANS Group wanted to: ✅ Stand out from the competition ✅ Be more professional in front of customers when delivering business cases ✅ Provide a more comprehensive view that meets the needs of the CFO Check out the #casestudy below where we discuss how they achieved these goals and more! ⬇️ https://lnkd.in/eVZinEhA #businesscase #valuebasedselling #valuemanagement #customervaluemanagement #b2b #sales #sharkfinesse

No one is a mind reader. Regular customer conversations are the quickest way to understand what drives their business. Dig deeper to uncover pain points, objectives, and strategic direction. https://lnkd.in/gy4mabG9

"To grow, you need to focus on acquiring new customers." No...no...no... This is advice every business owner hears about achieving growth and scaling. And it's everywhere. But I'm convinced it doesn't work. Focusing solely on acquisition can lead to high churn rates and overlooked customer relationships. Retaining customers is often more cost-effective and impactful than constantly seeking new ones. Instead of chasing new customers, I did this: - Analysed the reasons behind customer churn - Implemented a customer feedback loop to address concerns - Personalised communication to strengthen relationships - Invested in exceptional customer service - Created loyalty programs to reward repeat business It's not rocket science. Just start focusing on nurturing the customers you already have. #readysteadyexit #scalingforsale #smallbusiness

Acquisition or Retention? Which Fuels Long-Term Growth? Start exploring here: https://lnkd.in/gswYu729   Every business faces this crossroad: focus on acquiring new customers or retaining existing ones? While acquisition sparks growth, retention builds sustainable profitability. But how do you strike the perfect balance? This blog dives into actionable insights to: a) Maximise ROI with smarter strategies b) Strengthen customer loyalty for repeat business c) Make data-backed decisions for long-term success Ready to elevate your business growth?   #CustomerSuccess #RetentionStrategies #BusinessGrowth #GainScale

Why Your Self-Service Customers Are Disappearing: A Call to Action Let’s face it: many companies treat self-service customers like “just a regular Jack Kerouac” (to all the rewatchers out there 🍂). Here’s the thing: they need a map, and you’re supposed to hand it to them.
 This first step to keep them from slipping through the cracks may seem basic, but it’s crucial for laying a solid foundation: 𝗦𝘁𝗲𝗽 𝟭: 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝘁𝗵𝗲 𝗝𝗼𝘂𝗿𝗻𝗲𝘆 𝗼𝗳 𝗦𝗲𝗹𝗳-𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀 Before mapping anything, you need to gather every piece of your average Joe’s experience. • 𝟭.𝟭 𝗗𝗮𝘁𝗮 𝗖𝗼𝗹𝗹𝗲𝗰𝘁𝗶𝗼𝗻: Audit your customer flow. What’s working? What isn’t? Track funnel performance and key conversion points. What metrics matter? • 𝟭.𝟮 𝗧𝗲𝗰𝗵𝗻𝗶𝗰𝗮𝗹 𝗦𝘁𝗮𝗰𝗸 𝗥𝗲𝘃𝗶𝗲𝘄: Examine your tools and infrastructure. Identify bugs, misalignments, or gaps that might be creating a black hole in the customer journey. • 𝟭.𝟯 𝗠𝗮𝗿𝗸𝗲𝘁 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀: Analyze your competitors’ flows. Where do they excel? What gaps can you capitalize on? Think of it like building that dream house for your average Joe.
 These might seem familiar, but mastering the research is key before moving on to bigger strategies. Without that, the rest is guesswork.
 Check out the visuals below for a deeper dive.
 #b2b #strategytip #customerjourney #dataanalysis #selfservice

𝗛𝗲𝗹𝗹𝗼 𝗘𝘃𝗲𝗿𝘆𝗼𝗻𝗲, "𝗨𝗻𝗹𝗼𝗰𝗸𝗶𝗻𝗴 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗦𝘂𝗰𝗰𝗲𝘀𝘀: 𝗔 𝗗𝗲𝗲𝗽 𝗗𝗶𝘃𝗲 𝗶𝗻𝘁𝗼 𝗚𝗮𝗺𝗲-𝗖𝗵𝗮𝗻𝗴𝗶𝗻𝗴 𝗠𝗲𝘁𝗿𝗶𝗰𝘀" I’m excited to kick off a new series of posts where I’ll be focusing on key metrics that drive business success, I’ll dive into the most impactful metrics that can significantly influence growth and sustainability. 𝗗𝗮𝘆 𝟭: "𝗪𝗵𝘆 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗥𝗲𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝗥𝗮𝘁𝗲 (𝗖𝗥𝗥) 𝗶𝘀 𝘁𝗵𝗲 𝗞𝗲𝘆 𝘁𝗼 𝗟𝗼𝗻𝗴-𝗧𝗲𝗿𝗺 𝗦𝘂𝗰𝗰𝗲𝘀𝘀" Most of us focus on attracting new customers when it comes to business growth. But did you know that keeping the ones you already have is just as, if not more, important? That’s where Customer Retention Rate (CRR) comes into play. CRR is a metric that tells you the percentage of customers who continue to do business with you over a specific period. It’s more than just a number—it’s a direct reflection of how well you’re meeting customer needs and building loyalty. 𝗛𝗲𝗿𝗲’𝘀 𝗵𝗼𝘄 𝘆𝗼𝘂 𝗰𝗮𝗻 𝗰𝗮𝗹𝗰𝘂𝗹𝗮𝘁𝗲 𝗶𝘁: Start with the number of customers you had at the beginning of the period. Subtract the new customers you gained during that time. Divide that by the number of customers you started with, and you’ve got your retention rate. 𝗪𝗵𝘆 𝗱𝗼𝗲𝘀 𝗖𝗥𝗥 𝗺𝗮𝘁𝘁𝗲𝗿? 𝗖𝗼𝘀𝘁 𝗘𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝗰𝘆: Retaining existing customers is typically less expensive than acquiring new ones. 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗦𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆: A high retention rate provides a more predictable and stable revenue stream. 𝗟𝗼𝘆𝗮𝗹𝘁𝘆 & 𝗦𝗮𝘁𝗶𝘀𝗳𝗮𝗰𝘁𝗶𝗼𝗻: A strong CRR shows that your customers are satisfied and loyal to your brand. For example, if you start with 200 customers, gain 30 new ones, and end up with 210, your CRR is 90%. That’s a clear sign you’re doing something right! The bottom line? Focus on retention—it’s the secret sauce for sustainable growth. #Day1 #CustomerRetention #BusinessGrowth #CustomerLoyalty #BusinessSuccess #instabusiness #growth #metrics #posts #series #customerretention #businessgrowth #customerneeds #crr

Don’t let misconceptions limit your customer success strategy. 🌟 Many decision-makers wonder whether to keep #CustomerSuccess in-house or explore the benefits of outsourcing. Did you know outsourcing can lower overhead by up to 30% while increasing scalability and consistency? MarketStar helps you leverage the power of outsourcing, streamlining B2B sales and expanding market reach. Explore the full insights in our blog: https://bit.ly/40ckVFJ #RevenueGrowth #BusinessGrowth #MarketStar #GrowBeyond

𝟭𝟬 𝗣𝗿𝗶𝗻𝗰𝗶𝗽𝗹𝗲𝘀 𝗼𝗳 𝗛𝗼𝘄 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗖𝗮𝗻 𝗛𝗲𝗹𝗽 𝗬𝗼𝘂 𝗚𝗿𝗼𝘄 𝗬𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀📈 1. Customer Retention: Happy customers are more likely to make repeat purchases and refer others to the business, contributing to revenue growth💲 2. Positive Reputation: Satisfied customers are more likely to share their positive experiences with others, which can attract new customers and enhance the business's credibility💳 3. Brand Loyalty: Strong brand loyalty translates into repeat business and increased customer lifetime value, driving sustained growth over time⏳ 4. Competitive Advantage: Businesses that consistently deliver outstanding service stand out from their competitors and are more likely to attract and retain customers, ultimately leading to business growth📦 5. Feedback Loop: Listening to customer feedback helps businesses identify areas for improvement, innovate their products or services, and stay ahead of market trends, driving innovation and growth💹 6.Upselling and Cross-Selling Opportunities: Recommending complementary products or upgrades increases average order value and drives additional revenue growth🧾 7. Reduced Costs: Satisfied customers are less likely to encounter problems or request refunds, reducing the need for costly customer service interventions and improving overall operational efficiency💴 8. Customer Acquisition:Word-of-mouth recommendations from satisfied customers are one of the most powerful forms of marketing, driving organic growth and expanding market reach🏃♂️ In summary, investing in quality customer service is a win-win for businesses and customers alike. #customerexperience #growthmarketing #upselling #research #cost #feedback #brandexperience #reputationmanagement

When businesses yearn for growth, they often concentrate on gaining new customers. 🌱📈 However, there is a hidden gem within their existing customer base that is frequently overlooked. By strategically harnessing the wisdom and loyalty of these patrons, companies can uncover many opportunities to attract and retain new customers. 💎🔍💼 To effectively entice new customers, businesses must tap into the power of customer feedback, referral programs, upselling opportunities, loyalty initiatives, and data-driven insights. 🗣️📣📊🔐 By nurturing and leveraging relationships with their existing customers, companies can establish a virtuous cycle of customer acquisition, satisfaction, and advocacy that propels their brand towards sustainable success. 🚀🤝🌟 Don't disregard the valuable asset that is your current customer base. Explore the potential and unlock success through the power of loyalty and customer insights. 💼🔓🔍 #smetips #smallbusinesstips #marketingtips #businessgrowth