Nurture Your Current Customers and Watch Sales SOAR!

13 Feb

Nurture Your Current Customers!!!!

Countless research studies confirm that it costs a small business 10X more money and resources to attract a new customer. So why do most small (and many large) businesses continue to focus solely on new customer acquisition? It’s like having a cow farm and not building a fence around the field to keep them from running away!  Small business owners should focus on three critical areas:

1. Creating marketing systems that  attract highly qualified prospects

2. Creating sales systems that convert those prospects to customers

3. Creating nurturing systems that WOW current customers so they not only buy again but also recommend your products and services (this is where the majority of businesses fail)

When a prospect becomes a customer, the following should automatically occur:

The prospect is updated to a client in your database>the customer is segmented based on profitability to your company (Gold, Silver, Bronze)>each segment (Gold, Silver, Bronze) receives nurturing from your company on a regular basis.

For example, Gold clients might receive the following from you: Monthly Newsletter (written by you), hand-written Thank You card every quarter, a phone call to “check-in” every few months, promotional items reserved specifically for them.

Each item is kept on a “Client Nurturing Calendar” so you and your staff know exactly when to send nurturing materials. For example: On February 29, 2012, every Gold and Silver client receives “Leaping  with Thanks” thank you card (Leap Year…get it?).  Corny, but people love it. The card could be a picture of you and your staff, simply thanking them for their business.

Find creative ways to show your current customers that you love them, and your business will benefit from repeat buyers and tons of referrals! Good luck!

 

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2 Responses to “Nurture Your Current Customers and Watch Sales SOAR!”

  1. Edmund Amoye February 17, 2012 at 10:34 pm #

    Reblogged this on Lessons in Luxury and commented:
    I had promised to provide some tips on how luxury firms might want to go about pursuing successful (and sustainable) business strategies. A good friend of mine has a blog with some cool points for any business to follow. Welcome him to WordPress by giving him a read. I thought he had some good examples.

  2. Kurt Hunter February 19, 2012 at 2:41 pm #

    Thanks, Edmund. Luxury firms should have the resources (because of high margins) to create unique, memorable experiences for their loyal clients. Exclusive events and privileges that show client appreciate, go a long way to retaining the most profitable customers. The experiences and events should offer clients real value; the clients should leave the event truly feeling that they’re valued. These events not only show appreciation, but if done correctly, they will inspire clients to tell others about your company–a win-win.

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