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Warren Buffett has held the same Coca-Cola stock since 1988. The average business owner forgets a customer the second the payment clears.
Now you're paying strangers to replace them.
Think Big Minute #37
The biggest companies on earth are obsessed with the customer they already have.
A Harvard Business School professor named Gary Loveman left academia to run Harrah's. He built the entire company around one question. Which customers have stopped showing up, and what brings them back. Every casino floor you've ever walked is running that playbook on you.
Amazon launched Prime in 2005 for one reason. Turn a person who buys once into a person who buys every week.
Costco keeps around 90% of its members every single year. Most of the company's profit comes from that renewal fee, not the markup on what's in the cart.
Kroger built an entire data operation around the loyalty card in your wallet. Its only job is to spot the shopper who's drifting and mail them a reason to come back.
Netflix emails the people who cancelled. They don't write you off the day you leave.
Every one of these companies spends real money and real attention on customers a normal business would call gone.
Now look at how a normal business treats that same customer.
They buy. They get delivered to.
And then nothing.
No email. No check in. No offer. The relationship ends the second the payment clears.
Six months later that customer is a stranger again, and the business is paying cold ad money to go find someone exactly like the person they already had.
A customer who already bought from you is not the same as a stranger. The hardest, most expensive part of the sale is already finished. They found you. They trusted you. They handed you money and lived to tell about it.
Prepaid.
You already paid the cost of getting that person. It's spent. It's done. The second sale to them has no acquisition cost attached to it at all.
A lapsed customer is the only prepaid customer you've got. It's also the one almost every business completely ignores.
I ignored it for years.
At Legiit I was obsessed with new. New sellers, new buyers, new traffic, new everything. New felt like growth.
The whole time I was sitting on a database of tens of thousands of people who had already ordered on the platform. Already trusted us. Already spent money with us.
I barely talked to them.
When we finally started working that existing base, going back to people who had gone quiet, the revenue that came back cost us almost nothing to get. No ad spend. Just the message. It had been sitting there the entire time.
Here's why almost nobody runs this campaign.
Acquisition has an entire industry selling it to you.
Ad platforms make money when you spend on ads. Reactivation needs no ads. Agencies are built to sell lead generation retainers. Reactivation needs no agency. Getting new customers is taught on every corner of the internet. Going back to old ones is taught almost nowhere.
Nobody makes money when you email a customer you already have. So nobody is pushing you to do it.
New customers also just feel better. A new logo feels like winning. Emailing someone who drifted off feels like going backward, like admitting you let them slip.
So the easiest revenue in the business is the revenue that gets ignored. No salesman for it. No applause in it.
Here's how to actually run it.
1. Pull the list. Every person who bought from you and hasn't bought since. Most businesses have never even exported this list. You can't message a list you've never put in front of you.
2. Split it by how long they've been gone. Someone who went quiet 3 months ago needs a nudge. Someone gone 2 years needs a real reason and a real offer. The same message to both gets you neither.
3. Lead with the relationship, not a coupon. The first message says what's changed since they last bought, or what you built that they asked for. Acknowledge they were gone. People know when they've been mass blasted.
4. Make one clear offer with a reason to act now. Not "we miss you." A specific thing, a deadline, one action. Vague gets ignored. Specific gets the order.
5. Send the sequence, not the email. One message wakes up almost nobody. It takes 4 to 6 touches over a few weeks. The orders show up on message 3, 4, and 5, same as any sales follow up.
6. Don't only use email. A text. A DM. An actual phone call for the past customers who spent the most with you. Someone who paid you real money is worth more than a spot in a broadcast.
7. Put it on the calendar every quarter. Reactivation isn't something you do once when revenue is soft. The list refills on its own, because customers always drift. Work it on a loop.
Stop chasing the customer you've never met.
Go wake up the one who already paid you.
Think Big
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