A newsletter is a pivotal way for a company to stay in touch with its current, former and prospective customers while contributing to the building of a community that looks to the company for leadership and support. It keeps your company name front and centre with your target audience and, properly constructed, it positions you as a powerful and engaging leader in your field.
Despite all that, many businesses don’t have one.
One of my clients had toyed with the idea of a newsletter in the past but, much as they wanted a way to stay in touch with their customers, they were never able to pull it together consistently. And, until my team and I came along, they didn’t have the “people” resources to lead the charge either. The executives of this company are brilliant people and they manufacture a number of products and services in the high-tech sector. The company has been around for more than a quarter of a century and it’s very cheerfully looking ahead to its next $10 million milestone. Its North American offices cover all major time zones and it has an aggressive sales strategy that’s being carried out by a team of extraordinary salespeople. What they didn’t have was a vehicle for consistently telling the people in their customer database – more than 5,000 people—about the great things that are on at the company.
If you are in business on the planet today with any hope of growing your bottom line, you need to develop a company newsletter. It is a powerful tool for retaining customers and encouraging them to a) do more business with you and b) tell other people that they should do business with you, too.
Customer retention is a critical issue today and there are a lot of statistics available online that support the idea that we should all be spending more on the project. According to the Content Marketing Institute, increasing customer retention rates by 5% increases a company’s profit by anywhere between 25% and 95%. And, what’s more, increasing customer retention rates by 10% results in a 30% increase in the value of the company.