One of the questions I hear most from (especially new) startup founders is along the lines of ‘how can I increase my marketing ROI if I only have a few extra hours a week?’ My answer often seems to catch people out of left field because it has nothing to do with new customers. In fact, it has to do with old customers.
Still, if I only had a few hours a week and I wanted to do something with a high return on investment, I would talk to my existing customers. They don’t have to be long conversations. Ultimately, I’m interested in what they like/dislike about working with my company, what they would improve if they were in my shoes, and what made them decide to do business with me.
I think this is a great strategy for a few reasons:
- Paying customers will give you the honest, unvarnished feedback you should crave.
- Some of your customers will have incredible insight into your product and you can convert these meetings into important feature requests.
- Figuring out why they decided to do business with you will help you make sure you’re calculating your advertising ROIs correctly.
- These conversations are excellent opportunities to ask for testimonials, reviews and referrals.
If I only had a few hours to spend on marketing a week, I would spend that time talking to people who already pay me. What would you do? Let me know in the comments.