Biz Tips

Want “Inside Word” marketing tips and advice for helping local businesses grow?

Hope you benefit from this.

Regards,
Eddie Gibb,
Focus Consulting.



Is there a Cash-Cow hiding inside your business?

Are you one of the thousands of businesses who spend a fortune every year chasing
new customers?

Or are you one of the minority that spends a lot less time, money and effort quietly winning more business from their past clients instead?

Well it’s often quoted that it’s six-times more expensive to win business from a new prospect than to get repeat business from a past customer - so why do so many of us resist doing just that?

Is it because we see it as ‘begging for more sales’, or is it just because we don’t have system in place to stay in touch with our past customers so we are ‘top of mind’ when a new opportunity comes along?

Either way we need to understand that the greatest asset in our business is our database, and that past customers need constant nurturing.

Here’s a few ideas to start working your database:

Educate them
Remind them, every now and then about the complete range of products or services you provide. Often they’ll only be aware of the particular area they had a need for at the time and have no idea of all the other things you provide.

Reward them
The rule is to give them something unexpected at an unexpected time. And remember, it’s not the value the gift but the thought itself.

This could be a small gift voucher to encourage them to use you again or to pass on to family or friends. Or it could be a small gift just to say thank-you for being a valued client, but make sure the gift is relevant to the particular client.

Newsletters
Try sending them a short newsletter every few months using the “three-thirds” formula’ as follows:

The first third is for interesting news and information about your particular industry or business type, just do a Google search for some ideas.

The second third is about your business, what you’ve been doing, new products or services you’ve introduced, successes you’ve had, or staff changes etc.

The final third is all about promoting sales, ie special offers for past clients only, or short-term promotions of particular products or services etc.

Make sure you give these simple ideas a try as I guarantee it won’t be long before you start seeing the results of ‘farming your database’, especially if you hire a graphic designer like Clint at XDC.nz to set up a great looking e-newsletter for you.

However, feel free to give me a call sometime to take a closer look at how you could grow your business – without spending a fortune!


Comments