1000 True Fans
Many of us spend countless hours trying to attract new business, when in reality that new business could be staring at us in the face.
Our existing customers.
If you could get 10% more revenue out of your existing customers, what difference would that make to your bottom line?
Many site owners are aware that it is far more expensive to attract new business than to retain existing customers. Yet they spend all of their marketing spend on attracting new visitors in the hope that they will spend money with them. Most website owners are obsessed by the amount of site traffic or the number of page “hits” the website is generating and if they aren’t obsessing over those metrics, then there is always the % of new visitors and the % bounce rate for them to worry about.
That’s not to say these metrics aren’t interesting they are, they just aren’t as important as the site owners think. The most important stats are those relating to conversions. How many of the people who visit your site buy something off of you? How does that relate to your the articles you post or the placement of ads on your page. See our post on Actionable Metrics for more information.
In reality if your could sell more to your existing customers, you could spend far less on marketing and hence increase your bottom line. Doesn’t that makes sound commercial sense?
1000 True Fans
This brings us to the concept of 1000 True Fans….if you had a mailing list and that mailing list contained 1000 of your most loyal customers and these 1000 were the people that you interacted the most, the people commenting on your site, emailing you suggestions and buying your products, wouldn’t you feel like you had achieved something?
The truth is, if you have 1000 people who regularly buy products off of you then these people are pure gold.
Think about it for a minute. if you had 1000 people buying your 4 e-books a year or maybe other products or services, spending say £100/$100 per year with you, could you survive on £100,000 / $100,000 per year?
So how do you get 1000 true fans? In part 2 we’ll answer that question.
What do you think?