 |
|
Most businesses concentrate on getting “new customers” believing that only new business is what is needed to grow. In the chase for new customers, many businesses forget about their existing customers and that their existing customer base is one of their business's best assets. It's where the real growth potential for their business lies and where untapped profits can be found. Along with this, research shows that finding new customers can be up to seven times more expensive than doing more business with existing ones. This is because acquiring a new customer requires the extra cost of unpaid time spent on research, proposals, marketing and promotion, meetings, emails, follow-ups and so on.
Here are some ways to bring in "new business" from "old customers" that provide considerably more profitable and satisfying results.
Improve you relationship with your existing customersListen to what they have to say regarding your products and services to improve your relationship. One of the most powerful steps you can take in relationship building is to ask questions relating to a recent transaction and respond to their comments in a positive way. Their comments could help you develop new services and products that fit the needs they are articulating, rather than market testing new products to new audiences. Satisfied clients are also more likely to refer you to others.
Keep in touch with existing customersWithout being annoying, it is important to keep in touch with existing customers enough to show that you genuinely value their business and value their relationship with you. A popular means of this kind of customer contact is via an email newsletter. Make sure your newsletter is informative and helpful. This way, if you stay in touch, the higher the chances they will come back for more business and also that they may promote your business into the future. Regularly keeping in touch with your clients means you stay aware of their changing needs and situations so when the time comes that they must make a buying decision, you’ll know it, and you can be there with your offer!
Use existing customers to get referrals for more business.Set up a referral program by asking customers who are happy with your business to recommend you. First, let them know you're creating a referral program by sending out a letter or email that explains how much you value their business. You could offer them a discount on your products or services if their referral leads to a sale. You might also ask for written testimonials about your business, which can be included on emails, brochures or posted on your website.
Suppliers and VendorsDon't forget your suppliers and vendors. Ask them to recommend you to their customers. Remind them that by referring sales leads or business to you, you're helping to build their business, too. To make it work, you should return the favor.
Provide Great Service to your CustomersGo above an beyond the call of duty and provide them with that little extra that your competitors don’t offer. That way your business will stand out in the minds of your customers.
Ask your Customers for other Business leadsBe proactive and ask your customers for business contacts that you could approach and whether they would be a referee. Remember if you are already doing an excellent job for an associate of the new client you are approaching, then you will have a very good chance of gaining their trust.
|
Want to keep up to date with the latest news from Organise Internet?
Click Here to join our mailing list and receive these articles in your inbox on a monthly basis.
|
|
|
|
|
|
|
|
|
Home