July 1, 2016 News and Views 3 Comments

 

“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:

  1. Did you deliver exactly what you said you would deliver or did you ship short?
  2. Did your product or service ship on time?
  3. Do your customers know about the other products and services that you offer?
  4. 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.


Disclaimer
The material on this website is for the benefit and information of clients. The items are in the nature of general comments only, and are not to be used, relied or acted upon without seeking further professional advice. Hounsell Accounting Limited accepts no liability for any errors or omissions, or for any loss or damage suffered as a result of any person acting without
Written by Don Hounsell