Summary: Reactivating your client base is easier when you create a community. This is overlooked by a lot of business people. If you're interested in keeping your clients engaged and interacting, then by creating a community where you can interact with them on an ongoing basis, and they can, in some cases, interact with each other, it creates more of a bond than they would likely have with somebody if they're just doing more of a transactional type of thing.<br> <br> <br> <br> David: Hi, and welcome to the podcast. In today's episode, cohost Jay McFarland, and I will be discussing reactivating your client base. Welcome Jay.<br> <br> <br> <br> Jay: It's good to be here. You know, it's funny. I hear this everywhere I go now. If I watch Shark Tank or anything else, I hear this term CAC. You know, what is your CAC? And it's your customer acquisition cost.<br> <br> And I have to believe that your CAC, for a customer you've already worked with, has got to be lower than trying to bring in a brand new customer. Am I right?<br> <br> David: Oh, absolutely. And I think instinctively as business people, we probably already know this. We've probably heard it a hundred times, but the purpose of this discussion is not to have you hear it again. The purpose of this discussion is to ask, "are you doing this?" And if so, how well are you doing this? How much better could you be doing this?<br> <br> Because as you pointed out, once you've invested that money to acquire a customer, now you want to be able to leverage that relationship as much as possible to provide them with additional help, additional solutions so that you can generate the revenue. They can get the results they're looking for, and you're not spending more money to attract people. You're able to just expand the relationships that you have with the people who you've already acquired that first time.<br> <br> Jay: Yeah. And I think it's disappointing if you spent that money for customer acquisition and then you don't have a system to retain them or keep them online. And so now it's almost like you're spending the same money twice. If you're trying to get them back again.<br> <br> David: Right. Yes. And so when we think about reactivation, there are a couple of aspects to it. One is just people who haven't bought from you in a little while, to touch base with them again, to reengage those people and to see what they want, what they need. Essentially, requalifying them to find out where they are in that process.<br> <br> Are they ready to buy more things? Do they have a date in mind when they want to buy? Are they ready to go now? Or are they just not ready to do anything? Are they sort of disqualified for the moment? Are they unresponsive to you?<br> <br> Because they'll generally fall into one of those five categories. They're either ready to buy. They have dates in mind when they want to buy. They're open to the idea, but not sure when. Or they're disqualified, or they're not responsive.<br> <br> When you are able to go back and sort of requalify your existing clients, you can reactivate the ones who are ready to go now. You can schedule the ones who know when they want to go next. And the ones who are generally receptive, you can just stay in touch.<br> <br> Jay: Yeah. Or what about the ones who were disappointed, but they didn't take the time. Right? So many customers will never tell you that they had a bad experience. They just move on and...<br> <br> David: Yeah.<br> <br> Jay: you had no idea. So you're not improving your customer service and your chance of reviving that customer is very low.<br> <br> David: Yeah. And that's an excellent point, too. Because as you indicated, if you don't know that, but you're reaching out to them to see how you can help next, and you find out about that problem, then at least you have the possibility of restoring the relationship,
