Come Back Soon! Customer Acquisition vs Retention
LYNNIE VERSION
Would you like to read this article in more grown-up words, still easy to understand? Jump here.
Hi! I’m Lynnie! Today I’m telling you about customer acquisition vs retention. Big words! They just mean finding NEW people, and KEEPING the ones you have.
Most marketing advice is only about finding new people. But that’s just half the picture!
Two phases
Acquisition: finding new people. That’s what most grown-ups mean when they say “bringing traffic.” Reaching people who aren’t your customers yet. It’s harder, because they don’t know you! So it takes more effort, again and again.
Most of the fourteen ways to bring visitors are mostly for finding new people. Like SEO, Pinterest, going viral, marketplaces and most ads.
Retention: keeping your people. That means inviting people who already know you to come back. To buy again, read again, watch again, or chat again. Since they already liked you once, keeping them is often worth MORE over time!
Why keeping people is so valuable
Keeping-ways are less flashy, but often more valuable. A customer coming back costs way less than finding a new one!
A little example: Maybe you need ten Pinterest visitors to get one NEW customer. But a past customer who gets your newsletter might buy again after just one email! The second sale took way less effort.
Four keeping-ways
The next article explains them all:
- Email: messages to people who said yes to hearing from you.
- Community: a place where your people meet and talk to each other.
- Reminder ads: ads shown to people who already visited you.
- Loyalty rewards: treats that give customers a reason to come back.
Finding the balance
At the very start, almost all your effort goes into finding new people. You don’t have any yet! But as soon as you have your first customers or followers, add little keeping habits. Over time, keeping people becomes a bigger part of your work AND your money.
Little keeping habits from day one:
- Invite visitors to join your email list, with a clear yes-box.
- Say thank you to every buyer, personally or with a warm automatic message.
- Ask for feedback and reviews, and use what you learn.
- Let past customers know FIRST when you have something new.
An example
Someone sells herbal teas. In the first months, she uses Pinterest and marketplace listings to find new buyers. Every order includes a little card inviting customers to her newsletter for brewing tips. Soon, her monthly newsletter brings steady orders from returning customers. Especially when she announces new seasonal teas!
In short
Finding brings new people. Keeping brings them back. A healthy business does both!
Cheap and private
Most keeping-ways are free or super cheap! Email tools have free plans, communities can start on free platforms, and a thank-you costs nothing. You can do it all yourself.
And newsletters, communities and loyalty programs can all use your brand name. No face needed!
What’s next?
The next article explains the four keeping-ways in detail. The whole lesson is in the book on our products page. Want a grown-up to help you find your balance? Go to our services page.
What grown-ups usually ask (and I answer)
What is customer acquisition?
Finding new people who aren’t your customers yet.
What is customer retention?
Keeping the people you have, and inviting them back.
Which is more important?
Both! But keeping is often worth more in the long run.
Why is keeping cheaper than finding?
Because people who liked you once already trust you.
What are keeping-ways?
Email, community, reminder ads and loyalty rewards.
When should I start keeping people?
From your very first customers!
How can I get better at it quickly?
Start an email list, say thank you, and tell past customers first about new things.
Does every way to earn need it?
Yes, in different ways!
Where can I get help if I don’t have much money?
Lynnaider shows you how to start each of the ten ways for free, or for very, very little money. You’d be surprised! And a free robot helper called Lynnaider Compass helps you step by step!
Are there step-by-step lessons for starting each of the ten ways cheaply?
Maybe! If lots of people want them. Join the waitlist and you’ll know first.
Disclaimer: This article is for general informational purposes only and should not be regarded as legal, tax, or business advice. Pursuing an online business does not guarantee income; results depend on many factors including the business environment, individual effort, skills, and consistency. Some links on this site may allow Lynnaider to earn a commission at no additional cost to the reader.
