Did you know that it can cost up to 25 times more to acquire a new customer than to keep an existing one? OUCH! That hurts, right?
Thankfully, there’s a way to avoid this kind of expense. It’s called the Marketing Infinity Loop.
Let me explain.
The marketing infinity loop is a framework for how you can look at your customer journey. (Even if you’re a one-time service provider, like in the wedding industry, this infinity loop still applies!)
Here’s the cycle of that customer journey:
→ Customer discovers you for the first time.
→ Customer begins engaging with your brand and considering your value.
→ They move on to becoming a paying customer.
→ They experience what it’s like to work with you or buy from you.
→ They “complete” the transaction with you and go on to work with you again and/or become an advocate for your band referring you to their friends.
→ And the loop continues.
The Marketing Infinity Loop is a reminder to us all that *every* step in our customer journey matters… and the more we invest in our EXISTING customers, the less we have to invest in finding new ones (as we will either receive repeat business or ideal client referrals from them.)
In terms of sustainable marketing strategies — they don’t come better than this.
Don’t forget: The loop never ends. Even your most loyal customers and clients need ongoing attention and care to stay engaged.
What part of the infinity loop do you need to invest more energy in?