Most of our efforts are in generating new customers, but what about the current ones that are paying the bills? The number varies but it costs a lot more to get a new customer than to retain an existing one.
Do you know what a customer is worth to you? Think beyond this quarter or even this year. Think about the last 5 years. How much stuff have you sold them? More importantly, if you come out with something new, where are your best chances of selling it? To someone new, or to someone who knows, likes and trusts you?
I recently read a post in MarketingProfs by Rafe Gomez comparing an experience he had when taking his 11-year-old daughter to a rock concert and how the band delivered on the “customer experience.”
Here are some of his insights on how we can make the customer experience better, resulting in better loyalty and ultimately more sales:
- Deliver outstanding quality – from a great quality product to courteous customer service and user-friendly literature.
- Understand what your customers want – don’t assume to know what they want – ask them.
- Connect with them – direct relationships are the most important and the most challenging. Always think WIIFT (What’s In It For Them). Be sincere and upfront with them. When communicating with them, don’t always be selling. Try to help solve a problem even though it might not, in the short-term, result in a sale to you.
- Under promise and over deliver – exceed your customers’ expectations, then do it again!
- Don’t sit on your laurels – Yes, you have some neat products, but instead of sitting there and just doing the same old same o, innovate. If you don’t, someone else will.
Now these points probably aren’t a revelation to you, but when was the last time you focused on your customers and said THANK YOU!
