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Eric Siu explains how to keep clients by making it expensive for them to leave. Offer a full-service stack like SEO, paid media, CRO, and ad creative so switching to a competitor costs them time and money.
Eric Siu explains how to keep clients by making it expensive for them to leave. Offer a full-service stack like SEO, paid media, CRO, and ad creative so switching to a competitor costs them time and money.
The first business moat we're going to talk about today, the first one is switching costs. There's a great strategy book out there called The 7 Powers. And one of the powers in there is switching costs. And so one example of this would be, let's say you have an agency, and you actually happen to offer a bunch of different services. You don't just offer SEO, you offer SEO, paid media, CRO, ad creative, and a bunch of other things, right? Like influencer marketing, everything, the full stack. That makes it harder, even if you're performing at a B- across the board, even if you're number one at SEO, people want to go with a provider that can provide more, right? They want more full service. And so one of the moats that that will protect your marketing is switching costs, right? Because that is protecting your business ultimately. And these things kind of go hand in hand. If you want more insights like this on AI marketing and business, follow to learn more.
