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You need to become someone they will gladly and often refer new customer prospects to! The one strategy that can do more for building your business than just about anything else you can do and the most overlooked marketing tool by almost every business is 'Follow Up'! You need to immediately put in place a strategy and an effective system to follow up with: - Existing Customers - Past Customers - Potential Customers or Prospects Since it costs six times more to get a new customer to buy from you, it just makes sense to spend much of your time, effort and money on strengthening your relationships with your existing customers and turning them into referral machines for you. In developing a follow up system for your customers and prospects, you need to determine: - The number of Article: Most surveys show the vernacular action loses through 19% of its servile base each year. In fact, the authors of, 'Customer Winback: How To Recapture Lost Customers - and Keep Them Loyal' estimates the standard at 20 to 40% per year. This means that if you have 500 customers and lose 19% or 95 customers you must get 95 new customers each year just to stay even. Research shows it costs six times more to get a prospect to buy from you than it does to keep an existing customer, and it's 16 times easier to sell to an existing customer than to a new one. So why would you spend any marketing dollars on new prospects precociously doing everything you can to get more fair trade from your existing and past clients? Let me repeat that, 'Why would you spend any marketing dollars on new prospects in anticipation doing everything you can to get more craft from your existing and past clients?' The truth is that the real money to be made by most businesses is from plus sales of products and services to their existing customers and those they refer. Getting repeat and referral mimesis is something most small trading owners are not proficient in. If you want your pool to be successful, you need to have a obsessional reason, 'Why should your customers and prospects do craft with you, rather than your competition'? You need to ripen into someone they will gladly and often refer new customer prospects to! The one strategy that can do more for pyramid your commercial than just in the neighbourhood aught else you can do and the most overlooked marketing tool by most every movement is 'Follow Up'! You need to immediately put in place a strategy and an effective system to follow up with: - Existing Customers - Past Customers - Potential Customers or Prospects Since it costs six times more to get a new customer to buy from you, it just makes sense to spend much of your time, effort and money on strengthening your relationships with your existing customers and turning them into referral machines for you. In developing a follow up system for your customers and prospects, you need to determine: - The number of times you want to contact them and over what period of time - The frequency of contact. For example, every two month plus on their birthday - The method of contact. Will you send a greeting card, post card or letter? Research has shown that a greeting card will get opened 12 times more often that other types of mail. - Determine the purpose of the contact. Will you be thanking them for purchasing power from you, making them a special offer or address for a referral? A study done by the guild of sales Executives revealed that 81% of all sales happen on or therewith the fifth contact. If you're only doing one or two follow up's, imagine all the multilateral trade you are losing. Not following up with your customers and prospects is like filling up your bidet without first putting the stopper in the drain! Here's an example of an eight contact follow up system you could put in place in your business, modify it to meet your traffic needs: 1. When they buy from you - send a 'Thank You' card 2. January - send a 'New Years' card 3. March - send an Item-of-Value or Special Offer letter 4. May - send a 'Referral Request' card 5. July - send a 'Fourth of July' card 6. September - send an Item-of-Value or Special Offer letter 7. November - send a 'Referral Request' card 8. golden wedding anniversary - send a 'Birthday' card According to the Guinness book of World Records the Greatest Salesman of all time was Joe Girard. During his fifteen year selling career, he sold 13,001 cars ... an confounding feat. What was his secret? Greeting Cards! Every month, every person who had ever a car from him got a greeting card. It didn't matter if it was Christmas, Valentine's Day, St. Patrick's Day, or the person's golden wedding anniversary ... Joe was a greeting card sending machine! With today's technology it's not necessary to spend your time doing it manually like Joe and his assistants did! On the Internet there are online card sending services where you can send 'REAL' physical full color glossy greeting cards, mailed with a real stamp, from your computer. The one I use has a ton of features, like as able to set up reflex mailing campaigns. And, it's very inexpensive at $1.37 a greeting card, which includes postage. According to the National collectivity of Realtors, 70% of homebuyers said they would use their real estate negotiator again. However, only 11% reported shopping through the real estate molecule they had used before. Why? whereas clients haven't heard from them and they junky the causer didn't want to do small business with them. Whatever your product or service, don't let that happen to you!
Commit to putting in place a system to insure continual hackneyed follow up to your customers and prospects. Your transaction depends on it! |
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