Hey there,
If you're reading this, I'm guessing you have a membership or subscription. Congratulations! You'll love this information. (And if you don't have one yet but you're thinking it, this email is going to save you so much heartache down the road.)
Here's what I see happening all the time: businesses spend endless energy and money acquiring new customers while completely neglecting the ones they already have. It's like planning an elaborate first date but then never calling again.
But here's the thing that keeps your CFO up at night: it costs up to 5x more to acquire a new customer than to keep an existing one.
So why are we all so obsessed with getting new people when we could be doubling down on the ones who already said yes?
Here are my 5 favorite strategies for doubling revenue by doubling retention rates:
1. Actually understand your customers (beyond demographics)
Most businesses think they know their customers but they focus on demographics. Instead, start with an empathy map to understand what your customers think, feel, hear, and see. Want an empathy map? Click here to download the one I use with my clients.
Quick gut check: Can you name three specific fears your customers have about using your product/service?
2. Make it ridiculously easy to reach you
Your customers should know exactly how to get help, share feedback, or just say hi. Whether it's email, a help chat, or carrier pigeon, make it clear and make it simple. Radio silence kills relationships.
3. Give them a place to belong
The most successful memberships aren't just delivering content, they're building communities. This could be a Slack channel, Facebook group, monthly Zoom call, or even just an Instagram hashtag where people can connect with each other.
4. Turn customers into co-creators
When you invite customers to share their photos, stories, tips, or results, magic happens. They feel seen and valued, while you get authentic content that's more persuasive than anything you could create yourself.
5. Keep asking what they actually want
This is the big one. Schedule regular check-ins. Send short surveys. Have actual conversations. Your customers' needs evolve, and your offering should evolve with them.
Here's what changed everything for me: Stop thinking about retention as preventing people from leaving, and start thinking about it as giving people more reasons to stay.
Your existing customers already love what you do enough to pay you for it. Imagine what happens when you make them feel truly seen, supported, and part of something bigger.
Want to put these into action? Pick one tip and implement it this week. Your retention rates (and your bank account) will thank you.
Stay curious.
P.S. The businesses with the best retention don't have the perfect product—they have the strongest relationships. Focus on the relationship, and retention takes care of itself