You insure your motor vehicles, plant & equipment and stock, but
how much do you insure your customers for?
"Are you nuts?" I hear you saying.
Well OK, I'm not talking insurance in the traditional sense. But
let's just take a look at an example for a moment to appreciate
the true investment value of your customer base.
Let's say that you have been in business for 4 years and that
during that time you had accumulated a database of 1,200
customers. Now let's assume that your overheads (rent, wages,
advertising etc) are $200,000 per year. This means that so far
you have spent $800,000 ($200,000 x 4) to acquire 1,200
customers, or $666 ($800,000 ÷ 1,200) per customer.
In this example, if you lost a customer through lack of customer
care, it has just cost your business $666. So based on this
scenario, do you think it is worth insuring your customers by
putting in place a system of customer care initiatives that will
keep your customers coming back and spending their money with you
forever?
Hopefully you have answered YES to that question.
So what could you do to go that extra mile, exceed your
customer's expectations and transform that relationship from just
customer, into customer and friend?
Well here are 7 proven ways to keep existing customers and turn
your new customers into lifetime advocates of your business.
1. Send birthday letters. Everyone likes to be remembered on
their birthday. And why not send a little gift? It could
be a voucher to a beauty salon or restaurant (who should
give the vouchers to you for Free since it introduces a new
customer to them at no cost).
2. Give unexpected gifts. If you find an article, a book, an
audio CD, or anything else that your customers may be
interested in, send them a copy with a note saying "I
thought you'd enjoy this. I just finished reading it and
it's got some interesting ideas."
3. Send lots of thank you letters. Thank your customers for
everything, even paying their account on time. Attach a
small bag of lollies or jelly beans with your thank you note
and have your customers talking about you and giving you more
business.
4. Hold seminars, breakfasts or lunches for your good customers.
Have a speaker on an interesting topic and ask your customer
to bring a friend. A great way for your customer to build a
relationship with their own customers, and a great way for
you to introduce prospective new customers to your business.
5. Let your customers in on how you do things. The next time
a customer visits your office or store, show them around.
Explain to them what the various people in your office or
store do.
6. Educate your customers. By educating your customers through
newsletters, seminars and reports, you will be showing them
that you are knowledgable at what you do. The more highly
they think of you, the more they trust your advice, products
and service.
7. Conduct customer surveys. You may think you are doing a
great job, however, if your customers don't agree, you will
have to change or risk losing them. By seeking customer
feedback, your customers will feel that you value their
opinion and you will ultimately be in a better position
to service their needs.
This is not an exhaustive list. The ways in which you can reward
your customers and serve them better are only limited by your
imagination.
Start putting some......or better yet all of these ideas into
practice and watch the enthusiastic response from your customers
put money in your bank account!
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