Phil Risher says your CRM contacts convert at 50-60% when you re-engage them, far better than new leads. Most businesses waste money chasing strangers while ignoring customers who already trust them.
Your best leads are not your new leads. They're the ones that are sitting in your database. If you open your CRM right now, you probably have hundreds, if not thousands of people that know, like, and trust you that have come through your funnel. Maybe they work with you, maybe you didn't. Those right there are your best leads and ultimately customers. They close at 50 to 60%. They already know about your services, so they just need to be asked to do it again or cross-sell them a different service. So imagine this, you were going to go and buy a company and whatever service that it is, and they had 2,000 people in their database that they had already served before. Are you gonna go out and try to run ads and get new people to come into their business? Or are you gonna go to those 2,000 people and call them and try to get them to come back into your business? Exactly. The people that already know, like, and trust you, it's much easier to do. This is exactly what the private equity playbook is. They buy the companies, they retarget their past prospects and customers and bring them back into the funnel and then do some marketing on top. So if you're spending a ton of money to try to get new people into your business, and you don't call, text, or email your customers at least monthly, then you are spending a ton of money spinning your wheels without getting all of the lifetime value out of the people that already know, like, and trust you.
