Are your existing advertisers lining up to renew? Does your organization have a solid advertiser retention plan in place? If not, you aren’t alone–most salespeople will say that they’d like to really improve their advertiser retention rate.
It is more expensive to sell to a new client than to retain a current one. So why don’t more niche publishers focus on their existing customers? Advertiser retention should be a high-priority!
The reasons vary, but they are usually kinda lame: “Not enough staff…..no time….but we send cards at the holidays…..not enough money…”
It can be done. It requires consistency and creativity, no matter what the budget or time constraint.
So what is your client-retention plan? What do you do systematically to keep that advertiser? If you don’t have a goals and an action plan already in place, here’s a good place to start:
- Create monthly or quarterly retention initiatives.
- Commit to an action plan.
- Set a retention goal and track the results.
Sounds simple, doesn’t it? Yet it does require commitment to work well. No matter if your plan involves dropping off cookies, hosting a monthly shared webinar, or remembering their pet peeves and being pro-active, all these little touch-points can add up to one big difference in your advertiser retention rate.
It does take some time to develop a winning customer retention plan, but if you stick to it, it will reap you the rewards you are looking for: long-term clients that keep coming back for more!
About this blogger: Diana Landau is the Content Wrangler for Niche Media. A former sales director and corporate marketing hack, she has now found nirvana in writing and wrangling quality content. Diana is a food, wine, art and SF Giants enthusiast……who sometimes gets carried away.
Niche Media has created super niched-out events specifically for magazine publishers for over 12 years. We’ve helped pave the way for the era of boutique events that connect specific audiences and provide great educational, friendly and super-fun environments! Plus, Carl Landau – Niche Media’s Grand Poobah – just launched a blog all about creating and marketing targeted events – blog.NicheEventNation.com Check it out!
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