In today’s world of startups and unicorns and scalability and world-domination and IPOs and VC money…it’s easy to get attached to this notion of acquiring customers as quickly as you possibly can.
Yes, getting customers into the funnel is one thing, but keeping them there, looking after them, engaging them with one another, building a trusting, long-lasting relationship, developing a community for them to look after one another – this is just as crucial. (Check out this post on customer churn by Mondo Bank CEO, Tom Blomfeld).
Word of mouth has stood the test of time and always will. If anything, it is more powerful than ever before; it’s gone from:
pre-2000: Meeting a friend and telling them all about their great experience with your business/product
post-2000: Having a great experience with your business/product and telling all of their friends, family and acquaintances about it via Twitter & Facebook…
You can have the best advertising campaigns in the world, huge budgets for funky television and internet adverts, but if you’re not ensuring a great experience for your customers, and keeping them passionate and engaged and super-happy, you’ll lose (burn) customers and, when you stop acquiring them, it’ll all come crashing down.
Quite often, overnight mass-customer-acquisition doesn’t occur. Rather it happens organically, little by little, like a snowball gaining snow and momentum over time. And that’s perfectly fine. In fact, it’s great. It’s a high-quality businesses which puts its customers at the heart.
PS. Check out ‘The Distance’, a podcast by Basecamp about longevity in business, featuring the stories of businesses that have endured for at least 25 years, and the people who got them there