The Very Good Marketing Guide

SEVENHOW TO TURN A CUSTOMER INTO A FAN

Ah, Fans (sigh). What a desirable status for your customers on their journey. Incredibly loyal, totally profitable and infinitely valuable, your Fans are the key to creating a business that resembles your biggest goals. This part of your customer journey, and the marketing work you perform across this stage and the next, are the beginnings of your change in approach toward marketing forever.

As you know, I am a big believer in the impact that focusing on your Fans will have on your business. This is backed up by a notable principle circulating the business world: the 70/30 rule.

The 70/30 rule is a principle that states that a business should focus on retaining and growing its existing customer base, rather than constantly seeking out new Customers. According to the rule, a business should aim to spend 70 per cent of its time and resources on maintaining and growing its current customer base, and only 30 per cent on acquiring new Customers.

There are several reasons why the 70/30 rule is important for businesses, particularly those with a large number of Fans. For one, it's generally easier and more cost-effective to retain and grow an existing customer base than it is to constantly seek out new customers. Your Fans are more likely to make repeat purchases and refer others to the business, which can help drive long-term growth.

The exact ...