The Link Between Client Newsletters and Increased Revenue

I’ve been doing some research on client newsletters, and I wanted to share an article I thought RelaNet readers might find interesting. The article is written by Susan Crossman, an author and leader in the field of content marketing. The article isn’t specific to tax preparation or accounting, but it’s packed with information about why it’s so important that businesses retain their existing clients.

A few highlights:

• Cost of acquisition. It’s accepted wisdom that it costs more to acquire a new customer than it does to retain one, but Susan quantified it. She claims it can cost five to 30 times more to attract a new client than to retain an existing client. That’s why client retention is so important.
• Improved spending. Susan also claims that repeat customers spend on average 33% more than new customers. (Although, this may be more true in an e-commerce situation than it is for professional services.)
• Increased revenue. Because of the differences between new and returning customers in cost of acquisition and spending, a 5% increase in customer retention can increase a business’ revenue by 25 to 125%.

Newsletters connect you to your clients

Susan goes on to suggest that newsletters can be an important and powerful way of retaining customers and, as a result, realizing the benefits above. As she points out in the article, client newsletters can:

• Remind clients how to get in touch with you – and why they might want to
• Help your clients and prospective clients find you more easily online
• Solidify your relationships with your clients
• Help people form positive opinions about your company’s customer service, expertise, and performance

Here’s the link to the article: Here’s How a Newsletter Can Help with Customer Retention

RelaNet can help

I hope you find the information in this article helpful. If creating a client newsletter is something you’re thinking about, RelaNet can help. Our done-for-you newsletter service provides articles and sends newsletters on your behalf. If you have any questions about the article, or if you would like to learn more about RelaNet’s client newsletter service, please let me know.