8 Ways to Get More From Your Existing Customers
For many of us - especially those in service businesses - our existing and previous customers are vital for three reasons:
1. They have already bought from us, so providing they had a good experience, they might buy from us again. We also know that getting a new customer is much more expensive than selling to an existing customer, so by continuing to sell to them, we are really saving ourselves some money.
2. They can give us invaluable feedback on how we did. Was our service good enough? Did we delight them or were we ‘just ok’. Did our product meet their expectations? Was it good value for money? And so on.
3. They continue to save us money because they should be our major source of referrals and new business. So through them, we get access to new clients who already know about us and have a positive opinion of what we do.
Most clients I meet are not leveraging their existing customer database, and by not doing so, are losing out on a cost effective source of potential new business. Many receive referrals - for which they are grateful - but it’s not because they actively sought the referral, or had a strategy in place to ask for it.
Here are 8 ways to maximize the value from your most valuable asset:
Delight your Clients
Anyone with half a brain can satisfy a customer. But only when you continually delight customers will they keep coming back. You should aim to exceed your customers expectations on every interaction that they have with you. Do this consistently, and you will have a customer for life.
Getting the Marketing Groove
Wouldn’t it be great to have a year where your marketing efforts were streamlined and got the results you were after? None of us want to struggle with marketing, and yet this is the one topic that continues to be highest in the minds of small business professionals. Let’s really consider some of the reasons that can sabotage our marketing efforts, and how we can turn that around.
Lack of a marketing mindset – we don’t see ourselves as in the marketing game.
The truth is, if you are out there running a business, thinking like a marketer has to become your priority. It’s no use having a great service if nobody knows about it, or you. Lack of knowledge is your enemy. Start by reading whatever you can. Speak to successful people in your field and ask them what strategies they use. The information you need is out there for you to take.
Lack of investment
For many small business owners, the focus on cost control prohibits them from ever investing enough money into marketing and promotion. These activities are seen as costs rather than as an investment. So this year I encourage you to reframe your attitude towards marketing. Once you know what marketing activity to do, and have confidence that it will bring results, spend the money enthusiastically.