“It takes less effort to keep an old customer satisfied than to get a new customer interested” Anon
Did you know that the main reason your customers jump ship and shop elsewhere is not because of your price or the functionality of your product, but because they just want great customer service and a product that is fit for the job?
When did you last look at your current customer base and think you’ve done the best possible job servicing them? Do you keep in touch with them in order to keep them as customers? Is your product or service standing up to the job?
Review your customer base against these key areas and see where you could do better:
- Did you deliver exactly what you said you would deliver or did you ship short?
- Did your product or service ship on time?
- Do your customers know about the other products and services that you offer?
- Does your aftersales care work for your customers or only for your company?
Selling to existing customers can bring you up to 70% of sales in a new campaign, whereas targeting a campaign to gain new customers will bring you around 5% at best. That means your dollar will work harder for you with your existing customers, because they already know and trust your company. It makes sense to focus on keeping them.
Action: Review your customer list against the four points above and see where you have opportunities to capitalise on.