I know it’s not sexy. We’re not tossing web 2.0 phrases around or sharing some hot, new creative aimed at a brand new target audience. In fact, this marketing truth is downright boring. Keep talking to your current customers.
Whether you are trying to increase sales or retain the sales you have — marketing to current customers is a better bet than chasing after a prospect. Sure…you want new customers. But can you afford to lose the ones you’ve already got?
Here’s a startling statistic. Nearly 70% of business lost in America is lost due to post-sales apathy.
Amazing isn’t it? We spend all this time and effort luring them to our business. We seduce them on the sales floor. We listen attentively to their problem and help them find a solution. We gave them a fair price. We smile and wave as they leave.
And then, we ignore them.
There is no hotter prospect than your current client. They know you. They liked you enough to try you once. Hopefully, they had a reasonable or even good experience the first go around. So why aren’t you talking to them? Why aren’t you telling them more about you? Why aren’t you trying to learn more about them?
The answer — the hunt is more fun than the maintenance. Most salespeople and entrepreneurs love the thrill of the chase. The win is sweeter. But, let’s be practical. The win is also more expensive and longer in coming.
If you don’t have a customer retention program …. one that turns your clients into raving fans–you need one. Make it simple, easy to implement and something you will actually do. Consistently. Start on it today. It’s that important.
This post was jogged by the discussion we’re having in the comments section of Monday’s post. Some very smart thoughts from James Hipkin nudged me to bring the topic back around.
By the way — this isn’t a recession post. This is smart business, regardless of the economic conditions. I’m just hoping that the realities of the times will make the tactic appear a little sexier than it normally does!
So — how do you continue to court your current customers? What are you doing that’s worthy of their loyalty?