Taking Current Customers For Granted Is Something Your Business Cannot Afford
Taking Current Customers For Granted Is Something Your Business Cannot Afford
How many times do you read or hear a special offer directed to new patrons such as:
* 25% Off for New Clients?
* Buy 1 Get 1 Free for New Customers?
* Free Shipping for New Clients?
Of course, the goal of these special offers is to increase sales? Yet, are they potentially decreasing sales because they are offending current clients?
If you were a loyal customer who had patronized your business for several years and never received any acknowledgment of those dollars that you had invested in your business, how do you think you would feel about this special treatment given to others?
Do you think that you existing loyal customers may believe you have taken their business for granted? Have you ever thought of offering something special just for them?
Building customer loyalty is an ongoing behavior and a sales skill set. Your actions (behaviors through your sales skills) need to focus on creating “moments of truth” with every interaction between your internal and external customers. Through Points of Connection, you further strengthen those customer experiences.
When existing clients hear about or see special opportunities that are directed at new patrons and ignore them (the existing customers), you have weakened and devalued those points of connection. Given the current economic downturns, can you afford the cost to acquiring a new account that is estimated to be 6 to 7 times greater than retaining a current one?
Customer research also reveals that just a 5% increase in customer retention can generate a 25% to 100% increase in profitability. So why in the world would you ever demonstrate behaviors that would offend your current patrons?
Now more than ever you need to take action to build loyal customers and all behaviors must be directed to that goal. If the purpose of business is to attract and maintain loyal patrons, then your actions must be in alignment with that purpose.
Sales Coaching Tip: Always review existing marketing action from the viewpoint of your existing accounts. By taking this action, you will not take your existing clients for granted and you will build loyal customers who know that you truly appreciate their investments in your business.
Taking Current Customers For Granted Is Something Your Business Cannot Afford - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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With the down turn in the economy, many businesses are actively seeking new customers by offering special pricing, extended terms, anything that may get new customers off the dime. However, these actions may be ticking off current and potentially loyal customers.
How many times do you read or hear a special offer directed to new patrons such as:
* 25% Off for New Clients?
* Buy 1 Get 1 Free for New Customers?
* Free Shipping for New Clients?
Of course, the goal of these special offers is to increase sales? Yet, are they potentially decreasing sales because they are offending current clients?
If you were a loyal customer who had patronized your business for several years and never received any acknowledgment of those dollars that you had invested in your business, how do you think you would feel about this special treatment given to others?
Do you think that you existing loyal customers may believe you have taken their business for granted? Have you ever thought of offering something special just for them?
Building customer loyalty is an ongoing behavior and a sales skill set. Your actions (behaviors through your sales skills) need to focus on creating “moments of truth” with every interaction between your internal and external customers. Through Points of Connection, you further strengthen those customer experiences.
When existing clients hear about or see special opportunities that are directed at new patrons and ignore them (the existing customers), you have weakened and devalued those points of connection. Given the current economic downturns, can you afford the cost to acquiring a new account that is estimated to be 6 to 7 times greater than retaining a current one?
Customer research also reveals that just a 5% increase in customer retention can generate a 25% to 100% increase in profitability. So why in the world would you ever demonstrate behaviors that would offend your current patrons?
Now more than ever you need to take action to build loyal customers and all behaviors must be directed to that goal. If the purpose of business is to attract and maintain loyal patrons, then your actions must be in alignment with that purpose.
Sales Coaching Tip: Always review existing marketing action from the viewpoint of your existing accounts. By taking this action, you will not take your existing clients for granted and you will build loyal customers who know that you truly appreciate their investments in your business.
Taking Current Customers For Granted Is Something Your Business Cannot Afford - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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