Dan Kennedy's Magnetic Marketing Podcast How To Improve Business Profits With Customer Referrals & Retention
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Oct 3, 2025 Shaun Buck, an entrepreneur and co-author of the No B.S. Guide to Maximum Referrals and Customer Retention, joins Dan Kennedy to tackle the common struggle entrepreneurs face: focusing too much on acquiring new customers while neglecting existing ones. They discuss the power of newsletters in retaining customers and how small investments in current clients yield high returns. With examples from Disney and Apple, they highlight the importance of creating memorable customer experiences that drive loyalty and referrals. Automated outreach is criticized for damaging personal connections, while personalized touches and printed newsletters are lauded as effective strategies.
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Retention Is Higher-Leverage Than New Leads
- Many businesses obsess over new customer acquisition while ignoring retention and back-door churn.
- Fixing retention plugs holes and increases the lifetime value of each customer.
Invest In Proven Buyers First
- Invest a small amount to educate and build relationships with existing customers because they're easier and cheaper to sell to.
- Focus on proven buyers to increase purchases, average order value, and referral likelihood.
More Channels Didn't Raise Referral Rates
- Despite many new channels, referral rates per customer haven't meaningfully increased.
- More channels increased reach but also increased impersonal, transactional interactions that reduce referral productivity.
