It’s one of the greatest business lessons I’ve learned…
And it came from my former employer, Porter Stansberry.
During his meetings with the copy team, he would often espouse the virtues of building a business whose ultimate goal isn’t to make a one-off sale… or keep a customer for 90 days… or even 5 years.
The goal was to create products and experiences that are so consistently good, that your customers buy them for life.
There are many benefits of this approach, he explained…
- A loyal, engaged fan base
- An endless supply of life-changing testimonials
- Frequent referral sales
- Lower churn, refunds, and chargebacks
- Higher customer lifetime value
- Higher affordable cost-per-acquisition (CPA)
- Bigger profit margins
I could go on.
But despite these advantages, many entrepreneurs often take the opposite approach.
They focus on making big piles of moolah in the present, even if it means ruining the relationship with their customers.
They sell crappy products, make hyperbolic promises, or ignore a customer’s needs once they’ve cashed their checks.
And as a result, these “quick-buck businesses” burn through clients faster than napalm.
Granted…
You should never let perfection stop you from launching a new offer or venture.
And you need short-term income to make payroll and cover your expenses.
But by reinvesting in your product and making small improvements…
One at a time, over a lifetime…
You’ll put yourself on a profitable path toward the ultimate (but unattainable) goal of turning every customer into a buyer for life.
Your pen pal,
Matt Rizvi