Don’t Forget Your
Existing Clients
Quest
for new clients shouldn’t ignore those who pay the
bills
Acquisition.
It’s a big word in small business marketing. Companies
are constantly looking at ways to draw new people to the
business and generate new streams of revenue. In this
quest, some small businesses make the mistake of
focusing too much on new customer acquisition, only to
find that their existing customers have been lured away
by a competitor.
Ironic,
isn’t it? The very tactics you use to drive new
customers to your business are the same ones that your
competitors can use to take them away from you. Losing
sight of your existing customer base is truly an example
of not seeing the forest for the trees. Did you know
that on average, it costs a small business 10 times as
much to attract a new client as it does to retain an
existing one? Think about that the next time you are
planning an acquisition marketing campaign, then use
these three tips to ensure that your customers don’t
fall prey to your competitor’s acquisition efforts:
Coffee
Anyone?: One
of the simplest and most cost effective retention
initiatives I’ve seen involved sending your customers
a brief letter and tossing in a gift certificate for a
free coffee at a local coffee shop (if you’re a local
business), or a national coffee chain (if you operate in
a broader area.) It will only cost you about one dollar
for each of your customers plus mailing costs, and
you’ll accomplish two things. Firstly, they’ll be
reminded of your company name and services thanks to
your brief letter, and secondly, they’ll enjoy a hot
cup of coffee and feel good about your gesture. That free
coffee can go a long way towards client retention.
Get
Them a Deal:
Who are your customers? Are they small businesspeople
operating in your area? Are they pet owners? Are they
car lovers? The product you sell will dictate what your
clients are interested in. (For example if you sell a
new type of car wax, you can be fairly certain that 99%
of your clients are car buffs). If you have even a few
dozen clients, you could approach another local business
that sells a car related product (let’s say a new tire
polish) and offer them a deal. You’ll send a letter to
all of your customers and offer them a great deal on the
tire polish of 40% off the retail price. The company you
approach should be willing to do this, as they have the
potential to make a number of sales at one time, and
your customers receive something of value from you,
making them remember your company name and feel good
about your offer.
Take
it one step further and reciprocate the offer. The tire
polish company can tell all of their clients about your
car wax, and you’ll offer them a 40% as well since you
now have the chance to sell some of your product. Client
loyalty and new business too….a total solution! Just
make sure that what you offer to your clients is
actually valuable and not just a hollow sales pitch.
Your reputation may be hurt by partnering with
businesses that do not invest as much in client
satisfaction as you do.
Build
a Community:
Keeping in contact with your customers is another way to
improve customer retention. If your customers receive a
newsletter or ezine from you on a regular basis, it
becomes very difficult for them to forget about you or
your services. Producing a newsletter is not
as difficult as you think. The Internet is full of
articles and opinions on almost every subject
imaginable. Most authors will grant you permission to
use their articles free of charge provided that you
include a link to their website. By building a small newsletter
that contains 2 or 3 articles per month, you will get
one opportunity each month to remind your customers that
you value their business. Of course you could also
include information about your latest product or service
offerings in your newsletter in addition to the
articles.
Acquiring
customers is important, but retaining customers is
critical to the ongoing success of your business. Small
gestures often go a long way towards thwarting the
acquisition efforts of your competition, and ensuring
that your customers remain aware of your company and
interested in your services.
Article
contents © 2007 by marketingyoursmallbusiness.com
Will
Dylan is the Author of “Small Business Big
Marketing” a powerful e-book for small businesses
available through his website www.marketingyoursmallbusiness.com
. You can contact Will at askwill@marketingyoursmallbusiness.com
|
