So times are tough right?? As a business you are having to work a little harder to stay in the game or even just to stay afloat. You might be interested to know that there is a gold mine sitting right under your nose. What is it? Well..its your database of customers who have already done business with you and who will again as long as you are showing them the love. Now quickly, ask yourself, and be honest… are you treating your customers right??. Don’t forget little things mean a lot and if you don’t treat them right, your competitors will.
Is their risk of doing business with you worth the rewards of coming back a second and third time.
When did you last thank them for being a customer? Here’s a little exercise for you. If your customer stays with you for X number of years, how much will he spend in your business??
What is it worth to you to give him (or her) a free “something” to give you the chance to show them just what you can do for them..and then keep them for a length of time where they become good customers. Here’s another little brain teaser.. What have you spent on advertising, promotional activities and add that to what have you needed to spend just to stay in business? ( Fixed costs, wages etc..). Multiply that by the number of years you have been in business. Scary huh? Now divide that by the number of customers in your database and that gives you an idea of what it has cost you to get each of them as customers. Now do you feel like looking after them?? That’s a pretty rough little exercise but it makes you think right?? So, now go take a look at your database with fresh eyes. From there comes low cost sales, referrals and lifetime advocates for your business. And right now those kind of customers, well…they are like gold.. So show them the love and they will show you the money….
Stay tuned for more in this series..
Simon
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I agree with your post..businesses should appreciate the customers they have. After all, the customers keep businesses alive.