Growth vs Retention

šŸ’° Building long term relationships with your customers

MOEMENTUM

This is a Newsletter to boost yours.

Intro

No lemonade, orange soda, or a nice cold shilled glass of water

Instead, I'm here in Boston, surrounded by a cold, gloomy aura thatā€™s completely different from the vibrant energy of Miami.

To help paint the picture, Iā€™m all wrapped up in sweats, hoodies, and extra-thick socks

Moving to places like Miami completely shifted my paradigm.

It made me realize how much our surroundings impact our performance, creativity, and motivation.

If you ever find yourself feeling complacent, stuck, or just plain bored, hereā€™s my advice: Take a trip. Step out of your comfort zone.

Life isnā€™t just about making a ton of money or flaunting exotic cars. (Though, I gotta say, I love that part for sure.)

It's about experiences, growth, and how we adapt to new environments.

It's about being disciplined with your routine on the road, and staying consistent with your actions when the circumstances change. It's about finding that inner fire no matter where you are.

So boys, I hope this pep talk gives you some fire t crush your day and prepare for a great week ahead!

Now letā€™s talk strategies, specifically Reteniton.

Acquisition Is Growth, Retention Is Profit

I donā€™t hate dropshipping I just hate the concept

I hate the Gurus who brainwash beginners and make it seem like it is the best business model on earth

I hate how itā€™s all about short-term thinking

I learned this the hard way back in 2017 when I was dropshipping portable blenders that looked like this

When I first started it was great.

Sales were coming in, profit was there and things looked booolish

Then some guy said f*#K dropshipping the blender

Iā€™m going to build a brand that sells it

Within months I was getting dominated and forced to move on to selling another product

5 years after BlendJet has done 10s of millions in revenue, outperformed every drop shipper and dominated the market using the same exact product with a different approach

While I was focused on acquisition they focused on retention.

So let me walk you guys through some of the retention strategies I learned to help me avoid making the same mistake and actually build brands like NZT & Amarose that retain customers and maximize profits

Retention is your key to outlasting competition and building enterprise value

It's easy to get caught up in the acquisition mentality.

More ad spend, more creatives, more revenue..

But here's the twist - retention is where the real profit game is played. It's not about just selling; it's about selling again and again.

Think about it like this

If you only went to McDonaldā€™s once the company wouldnā€™t have 100 locations in every city

But because they know youā€™re going to go back they want to make it convenient and easy for you to do

Hereā€™s how we think about the 3 types of customers when we grow brands

New customers: Your job is to make them feel like they've discovered something special.

That first experience? Make it count. Add a postcard with their orders, send a personalized email, or even a free gift youā€™d be surprised how long that can go.

Current Customers: These are your community, your advocates.

Focus on engaging with them as much as possible, best place to do this right now is Instagram broadcast channels or Facebook groups!

ā€œOldā€ Users: If they bought from you once and you didn't completely butcher it theyā€™re more than likely to do it again. Understand what pushed them away, address it, and give them a reason to come back.

Now letā€™s talk more in-depth about 3 ways you easily can do this.

1. Customer Engagement

Customer support is soooo overlooked

The first thing I do with every business is make sure my customer support team is ELITE.

Not just for my product, but for my people too.

Go above and beyond for your first 1,000 customers.

Give them refunds, reship lost packages, whatever it is they want get it done.

Why? If your customers feel heard and helped, they stick around. Fast, effective support isn't just good service; it's a great strategy.

Build a customer support team that's not just responsive but empathetic.

2. Build A Loyalty Program

Credit card-style loyalty programs

Ever wonder why people always spend money they donā€™t have to buy things they donā€™t need?

Credit cards make it easy for them.

ā€œCashback, member benefits, unlimited bonusesā€

These are the words used to describe almost every single credit card, its subconsciously engraved in our brains that the more we spend the more we ā€œget backā€

Your brand should do the same, at NZT specifically we built a program that gives our customers unlimited 5% cash back on every order

Simple things like that go along way, find what works for you and do it!

3. Make Them An Offer They Can't Refuse

Nobody buys great products thatā€™re positioned terribly.

Hereā€™s an example from a brand I love

ClubEarlyBird whatā€™s so unique about this brand is the fact they choose to build offers, the whole strategy is entirely focused on building irresistible offers customers canā€™t refuse.

You will not find a regular product page, everything is well thought out to build an environment for customers to keep coming back

Instead of just buying the product they come back and buy offers.

So there you have it.

Donā€™t start an ecom brand to just sell products, start one that focuses on building relationships through products.

Retention isn't just a strategy; it's the strategy.

P.S. If you have more questions about retention or anything else regarding starting or scaling your business? Hit reply. Let's keep this conversation going!

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