Cheaper to Keep-Er Than to Get a New One?
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Cheaper to Keep-Er Than to Get a New One?



Finding and Keeping Your Customers – Happy
 
Brick-N-Mortar Storefront owners, do you wait at the door, hoping someone new will walk through?  Click-N-Mortar owners, does Internet traffic get there and then goes… someplace else?
 
In marketing terms, it's been said that it is eight times more expensive to get a new customer than to keep an old one. If you serve a customer well, they will be a repeat customer. It costs more from an advertising and time standpoint to generate new customers, even with email newsletters or social media marketing.  Your existing customer base will always be the one making the big purchases, or upgrading to the next level.   Aren’t your current customers the ones who are giving you referrals and recommending you to their friends?  Aren’t your happy customers also the ones who give you the five-star rating you so want and need on-line?
 
The training budget is always lower than the advertising budget. Is the right person training your staff?  Does management lead others to do what they would like everyone else to do with the customer or is it boss management; “Do like I say, not as I do.”

We exist in business to obtain and retain customers.  It’s cheaper to keep a customer than to get a new one. 
 
Think about how much you spend in advertising and marketing.  Do a little math.  Take all the money that you spent on advertising and marketing last year and then divide it by the number of new items that you sold during the year.  Whatever the amount, either you don’t spend enough (that’s a separate issue) or it amounts to a lot of money.  Even while it is an absolute necessity to market your business the point is that it takes a lot of time and money to get someone into the showroom or get them to meet you and then motivate him or her to the point that they purchase a new item or service. 
 
If you are transactional based in your business approach, you will always be looking for the cash register to ring.  Storefront owners, do you wait at the door, hoping someone new will walk through? The ring at the register is simply the end result of many things that happened in advance of the sale. We all know the transaction must take place but what was the process that must take place in advance of the transaction?
 
Process Tips to Keep Customers – Happy
 
Growing your small business by retaining existing customers doesn't mean throwing lavish parties and taking them out to lunch every week. It can be a lot simpler than that. You need to build relationships with your customers and make sure you maintain them.  Keeping customers doesn't always need to be so complicated.
 
First, make the relationship personal. Second, consistently ask questions and listen to the answers. Third, make it easy for them to be a customer by engaging in constant communication and lastly, make your customers proud. Keep them happy and delighted. Do not discount as this does not build loyalty with your customers. Instead offer customers a rewards club card whereby they receive 10% of each purchase back onto their card each time they purchase an item in store. The average sale per transaction for members can be as much as 40% higher than for those customers who do not have a rewards card.
 
In addition, use the program to send out a courtesy text message to clients three weeks after the client has bought their new item to check whether they are happy with their purchase. If they receive a negative response, follow up with a phone call and address the problem.
 
The results bring an increase in return business and an excellent way to engage regularly with your repeat customers. Increasing your bottom line isn't that hard when you concentrate on the clients you have already secured. It is a cheaper, more effective way of growing your business.
 
If you build a relationship with your customers then they will contact you if they have a problem rather than just walk away. If you can build a personal relationship and help them understand what you are all about, you are definitely heading in the right direction to grow, retain & repeat your business.
 
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What do you do that helps retain your customer/client/patient base? Write your post below here.

You May also Share your process at: www.twitter.com/phyllismmiller



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