Don’t spend all your money to acquire customers.
Spend it to keep them. That’s where you make all the money.
It’s not the front end, it’s the back end.
Great examples of this are
1. Amazon prime.
• When they first came out with their offering, it was so cheap.
• Everyone’s like “You’re crazy, you’re going to lose money.”
• And you know what? They did lose money. But on the front end.
• On the back end, people kept coming back and buying from Amazon which has caused them to be a trillion-dollar company.
✅ Marketing costs are continually rising every single year.
✅ The only way to make your marketing profitable is to have upsells and cross-sells continually and to get people to keep coming back.
2. McDonald's’s
• At McDonald's, they may offer to upgrade your order to a Happy Meal, supersize it, or add extra fries or a Coke.
• That’s examples of upsells and downsells.\
• "When they provide amazing jungle gyms and toys, what do kids want to do?"
• They want to keep going back to McDonald’s.
They make their money on the back end, not the front end.
That’s how you build a big business.
#customermarketing #customerretention #upsells #crosssells
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