How to Grow Your Business by Keeping Customers

People think that marketing only focuses on new business but I contend that after getting this new business your marketing process has just begun! If you aren’t courting your existing customers be sure that your competition is.  Social media and email has made this job much easier not to mention more affordable. Revolving doors do nothing to grow your business.

How to Grow Your Business by Keeping Customers

For those that are in any business that involve working with the public, you are well aware that your customers are your livelihood. If you do not have happy and satisfied customers, you will not have a successful business. It is very important to keep your customers happy, and coming back to you for repeat business. This is what makes a business not only grow, but thrive. Once you have established a great customer relationship, they are also more likely to spread the word of your great service, which is the best kind of advertising there is! You can’t pay for this type of marketing.

You can start this by doing something special to show your customer you appreciate their business. Run specials where they can get deep discounts for an immediate need like an Air Conditioning unit install. They will appreciate this small gesture, and it will go a long way with letting them know they are valued. In order to track what is working and what isn’t, make sure that you have a good customer resource management system in place.

This past holiday season I gave a few of my biggest customers gifts that matched their interest. One client in particular I bought them tickets to a hockey game because they lived up north for years and one of the owners managers told me this was something they enjoyed. They were great seats too, don’t purchase nosebleed seats expecting it to leave a positive impression.

Calculate How Much You Can Afford to Spend

The client I bought the hockey tickets for spent quite a bit in 2013 and I based the gift on a percentage of the overall business. This will not be something you do for all clients, just your top 10% or so. Sometimes with the regular customers who spend a some but not a lot I’ll throw in free work by not charging them for an hour of something and notate it on the bill so they know what we did for them.

It is expensive to advertise for new customers. This takes time away from being productive as well as the time and money that is invested in making calls, writing emails and website message crafting. This is why it is critical to keep the existing ones pleased, as you can afford to spend money on these customers showing them you appreciate their business. There is the added expense of a sales team that will be needed to get these new customers too. This adds to the wage expense, and takes away from those that already work for you, along with the discounts that you could offer the existing customers.

Calculate How Much It Costs to Gain a New Customer

If you are not tracking the costs of your new customers it would be a good idea to start doing it. Once you know then you can turn around and spend a percentage of that costs on KEEPING your existing customers happy. That may look like returning to a job the customer was not satisfied with or sending them a coupon for future services. If you really want to stand out above your competition then send them a gift card, yeah, that will do it.

You can always increase the services that are offered to the customers at a slightly increased price, which will make them more dedicated to you and your business. One way of doing this is to offer not only online face to face contact service, but online convenience. Customers will love the convenience and it will keep them coming to you after normal business hours, hence increasing production times.

Loss Leader Programs Work

A loss leader program is another great way to keep those customers pleased. Offer this to those who have shown dedicated business with you for a while. Implementing this program will make them more prone to ordering products outside of their normal sales, which will make more profit for you. This program will also allow them to get the product at a reduced price, and keep them from taking their business elsewhere.

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