Retention vs. Acquistion: What is the Right Move?

Anyone with a TV knows that Net firms are spending millions on building their brands. But some analysts now say more attention must be paid to retaining customers and visitors once a company gets them. New netizens and existing customers are going to get burned out, if not confused, with the bombardment of all the dot com companies. So many consumers are not yet online, and might tend to stick with the companies they are familiar with.

What does a customer cost? Numbers are difficult to pin down with a market as diverse as the Net. Shop.org puts the cost between $22 - $40. Jupiter Communications estimates the cost is between 1.5 and 2.5 times the charge for an average order.

The cost to run a web site is growing. The DMA estimates that an average web site with 30 pages costs $37,000 and $64,000 to develop. On average, an average web promotional budget is approximately $120,000 for direct marketers. So with all this customer acquisition money being spent, the growing trend of prospect and customer burn out is critical. Managing net visitors with more passion and commitment might be a better strategy. Here are some tips for those with web sites for doing just that:

1. Reseat your web address and 20 word description with the search engines every 6 to 8 weeks. There are over 600 search engines and in excess of 10 million sites with approximately 10,000 sites being added daily. Search engines refresh frequently based on the last update date.

2. Build an interactive database that captures information and delivers conveniences and value to the visitor. Visitors dont mind giving you information if you use it to make their visits more productive.

3. Have a library or reference location on the site for quick look-ups and comparisons. Often you get to a site and need to have a look-up to find your topic of interest. Acting as an information-mediary is a good way to keep customers coming back. Even better if you can compare how you contrast with competition.

4. With the existing site, develop a "push" content specific to the users profile and interest.

5. If you are keeping customers purchasing and credit information, automatically populate their contact information fields so the visitor does not have to fill it out again. But only reveal the customers last 4 digits for credit cards.

Of course there are many other steps to take to keep your site fresh. Content and entertainment are still key components, but netizens are really looking for value and convenience.

About the Author.

Robert McKim.

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DBMarkets@aol.com
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