We all know the economy is slow, and it doesn’t seem like it is going to improve in the near future. When you hear this what should you do, fold up shop or take action? I say grab your current data base and let them know you care, they need you and you want/need them. Folding up shop is not an option, nor is additional cash outlays on new lead generating tactics. So use your raving fans as a way to take action on moving your business forward.
How often do you let your current customer base know about what is new in your business? Maybe you have a new employee to introduce, a new product or service you could brag about. Do you have a newsletter? USE IT NOW! Be sure to include some call for action, make the reader excited to call or visit you and have a purpose for them in your offer. Remember, it is five times less expensive to keep an existing customer than develop a new customer.
Do you have a customer referral strategy in place? If yes great, but if not, why don’t you? Who better than your advocates and fans to lead additional people like them to your business? Grade “A” customers bring grade “A” friends with them. Do you need any additional grade “A” clients? What if a hair salon offered a coupon for new products with each referral? Let’s examine this transaction. You get the referred persons hair cut, (1 win), you get the existing client to come back in (2 wins) and they need to purchase additional products to redeem the coupon (3 wins) all from one referral.
Let you clients do the talking for you. I have a client who calls this her brag book. Create a brag book and give this a special place, either on your web site, in your sales materials or in your place of business. The value that is associated with testimonials is huge and free. We all want to know that Wells’ is a great printer, how about letting the public know what clients have said?
With any strategy that is aimed at retaining or growing business you are wasting time and money if you do not measure and test. Each time you are contacted you need to know what drove that prospect to your business. “Just so I can serve you best can I ask you a few questions?” and “How did you hear about us?” are two golden questions that will allow to know what campaigns or lead sources are working and which ones need to change. Measure for a few weeks and adjust to what is driving business to you.
So where do you start? Go to those “A” clients and call, email, mail, drop in, and contact them with your new offer, new service or new whatever. Have some fun, create excitement and remember to make them feel special they are your best customers and should be treated as such.
Brad Sugars founded the brand Action International in 1993 when he realized there was a disconnect between business advice and implementation. The answer was Action! Brad Sugars created a business coaching company so that business owners throughout the world can realize their goals in business. Today the company is known as ActionCOACH. To learn more about business, visit Brad Sugars Review blog