#256: The Forgotten Funnel: Increase Customer Value Without Selling More

Published: March 28, 2019, 7:01 a.m.

\u201cNew customers are good, but existing customers are better.\u201d - Casey Graham\nDid you know it takes five times as much to attract a new customer as it does to keep an existing one? Five times!\nMost businesses put a huge focus on getting NEW customers (which is important), but where they\u2019re missing the mark is by not equally nurturing the EXISTING customers that they do have.\nOn today\u2019s podcast episode I talk to Casey Graham, founder of Gravy, the company that helps entrepreneurs and business owners (including myself) solve the problem of failed payments and credit card declines in their business. Why did I bring him on? Because he\u2019s an incredibly smart and strategic business owner who knows how to create profitable businesses - he\u2019s built several from the ground up and is a master at growing thriving teams that wow their customers on a daily basis.\nCasey says that f you were to increase keeping your existing customers who are paying you by 5%, you could increase your profits by 25-95%, depending on your type of business. That\u2019s a game-changer, my friend!\xa0\nAs a business owner, you\u2019ve got to develop a customer-centric business and this episode is going to give you a roadmap to do just that as Casey drills down on the 5 non-negotiables of setting up a stellar system of customer care (aka the forgotten funnel) in your business.\n\nPerson - define who you are (the owner/leader of your organization) and who you are serving (your customers)\n\nPeople - how is your team (or you) set up to serve your customers?\n\nProcess - how are you intentionally valuing your customers before you ask for more value?\n\nProduct - what\u2019s your product value ladder to continue to serve customers?\n\nProfit - what are you doing to reduce churn and close the back door?\xa0\n\nYou\u2019re going to be able to walk away today with some simple strategies that you can incorporate into your business immediately that will literally change how your customers see you and most importantly how they feel about you on a daily basis.\nThis episode is brought to you by Gravy, the company I trust to contact my customers within hours of a failed payment, capturing the updated billing information, and saving the customer my team and I worked so hard to acquire. If your revenue is currently at $250K or more a year and you know you\u2019re losing money due to failed payments each month, I encourage you to check out Gravy. Click here to see how they can be an extension of your customer service and save you money.\xa0\nSUBSCRIBE & REVIEW IN ITUNES\nAre you subscribed to my podcast? If you\u2019re not, I want to encourage you to do that today. I don\u2019t want you to miss an episode. I\u2019m adding a bunch of bonus episodes to the mix and if you\u2019re not subscribed there\u2019s a good chance you\u2019ll miss out on those. Click here to subscribe in iTunes!\nNow if you\u2019re feeling extra loving, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast and they\u2019re also fun for me to go in an read. Just click here to review, select \u201cRatings and Reviews\u201d and \u201cWrite a Review\u201d and let me know what your favorite part of the podcast is. Thank you!