Gaining "Repeat Customers" for Extension

A marketing principle called "the lifetime value of a customer" says it's easier to sell to someone who has used your product or service before than to someone who doesn't know you. Extension's "product" is research-based information and our "repeat customers" are clients who come back to subsequent educational programs after being satisfied with their first. This article describes an application of this principle.

A program that has attracted many first-time Extension clients nationwide is the Women's Financial Information Program (WFIP). Extension offices in almost half of the states are co- sponsors of WFIP, developed by the Consumer Affairs section of the American Association of Retired Persons (AARP). Since its pilot-testing in 1987, this program has reached almost 50,000 people, predominantly mid-life and older women who've had little or no experience handling their financial affairs.

WFIP workshops are organized by the local co-sponsor in concert with a coalition of human service agencies, women's organizations, churches, and educational institutions. This provides access to a wider variety of clients, speakers, and resources than Extension would have "going it alone." WFIP consists of seven seminars that include a lecture on a specific financial topic, such as insurance, followed by small group discussion led by trained facilitators.

A challenge to the sponsor of any successful educational program is to recapture the enthusiasm and extend the participation of an initial audience. Five methods have been used to do this in New Jersey since WFIP was implemented in September 1990. The first WFIP "spin-off" is a statewide newsletter, Money Matters. It's published semi-annually and sent to every WFIP graduate and volunteer. In addition to providing readers with more personal finance information, the newsletter serves as a marketing tool to highlight successful WFIP classes, publicize upcoming ones, and recruit new volunteers. Statewide circulation increases each time new WFIP classes are held. Participating counties publish their own copies from camera-ready masters, and localized insert pages. If funds are limited, the costs of paper, printing, and postage can be built into the WFIP class budget and registration fee and paid for directly by participants.

Follow-up classes are another way to keep clients coming back for more. Several counties have held one-night "class reunions" featuring light refreshments and one or two speakers, while others have implemented the AARP's Level II WFIP curriculum. Scheduling other personal finance programs during the WFIP's seven-week time frame has also proven successful as a cross-marketing strategy.

In one New Jersey county, a WFIP discussion group evolved into an investment club. A speaker gave participants the address of the National Association of Investment Clubs (NAIC) and, using an NAIC starter kit, the group began investing after a year of research. Exten-sion's support was limited to encouragement and a meeting room.

A fourth WFIP-related activity is a "Q & A" publication. Clients are encouraged to submit questions that didn't get answered in class. The questions are answered by the appropriate speaker, compiled, and mailed to participants. This mailing can be coordinated with a follow-up evaluation form to reduce postage costs.

Lending libraries for audio- and videotapes and financial calculators are another way to motivate clients interested in personal finance. Because they return week after week, pick-ups and returns are convenient. Retaining existing clients is as important as recruiting new ones. With so many Extension faculty nationwide invol-ved in WFIP, attention to follow-up activities is essential.