On average, finding a new customer costs five times as much as keeping an existing one loyal.
So, what are YOU doing to ensure that you don’t lose your existing customers?
Here are 5 top strategic tips to stop your bread and butter customers from slipping through your fingers:
1. Talk with them, as often as you can!
Start a ‘keep in-touch’ campaign to make sure they hear from you every week. Try newsletters, blog, email or even an old fashioned card or mailing. But dont forget theres nothing better than rhe personal touch - call them on the phone or better still plan a visit. And depending on how well you know your customers, consider if it would be appreciated if you sent them a Birthday, Christmas card.
2. Thank them.
Showing your appreciation will build a tremendous personal relationship and they’ll love you for it. Why not send them a Thank You card (ensure it’s handwritten) or even a gift voucher so they can treat themselves. A bunch of flowers always works, especially when they are delivered to work!
3. Ask them for feedback.
This will get them involved in what you’re doing and they’ll be far less likely to leave a supplier who they are helping. Ask them what you can improve about your product or service and listen really hard to what they say. They might even give you a great idea for a new product or service that you can sell to them and improve your sales and profit from them. A real Win-Win!
4. Take them out.
You can’t beat a bit of face to face time in a non sales environment. This is the best way to build rapport and forge a long term business partnership. One to one is good for big clients but a simple networking type meeting with several small businesses is also valuable. This way you can make some strategic connections and help your customers meet other local businesses that they can do business with.
5. Spread Good News.
Don’t be afraid to shout about your success from the rooftops. Let your customers know about an award you have won, a new customer you have won, a new product you have launched, a new member of staff you have employed, an article you have had published etc. What a great way to keep you at the forefront of their mind, bolster their confidence in you as their preferred supplier and they might even recommend you to other businesses that they know.