Cost of Retention Broken Down 🔥🔥🔥 (Dollars & Cents...) Send to yo' Ops Manager | Ep 113

The Game with Alex Hormozi

Alex Hormozi

How To, Business, Entrepreneurship, Education

4.9 • 4.8K Ratings

🗓️ 14 March 2019

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

People are paying for accountability. Today, Alex (@AlexHormozi) discusses the cost of retaining gym customers and retention strategies to triple lifetime value, including reaching out to customers who need to show up, sending handwritten cards, and contacting all customers twice a month.

Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.

Timestamps:

(0:27) - The cost of retaining customers.

(2:25) - Retention strategies to triple lifetime value of customers.

(7:13) - The benefits of investing in customer retention.

(8:36) - The cost of retention and how to foster relationships.

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Transcript

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0:00.0	Hey guys, real quick.
0:00.8	So Layland and I are definitely working
0:01.9	on our social media presence if you guys haven't noticed.
0:04.2	And we're just breaking now into linked in.
0:06.4	All right, it's not as bad as I thought.
0:08.3	It's actually been pretty awesome so far.
0:09.5	And you guys have been really cool in there
0:11.0	and people are sharing our stuff a lot.
0:12.2	So if we aren't connected, on LinkedIn,
0:14.0	it go ahead and let's connect and let's rock and roll.
0:17.2	What is going on, everyone?
0:18.3	Happy Thursday.
0:19.2	Hope you guys are having an amazing, amazing Thursday,
0:21.6	a terrific Thursday, a tremendous Thursday.
0:24.1	So I wanted to break down the cost of retention.
0:27.4	So I talk a lot about cost of acquisition
0:29.5	being able to outspend your competitors,
0:31.1	being able to make money in the acquisition, et cetera,
0:34.3	so that you can market your ass off.
0:36.6	But the other side of the equation,
0:37.8	a lot of people don't want to break down.
0:39.0	And I want you to break this down dollars and cents
	...

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