There is one area of business in which too many business owners reveal themselves to be lazy and short sighted.
What am I specifically referring to? When the business owner gets all steamed up, pouring all their energy and resources into chasing NEW customers, while ignoring those customers who are already proven, who’ve bought before and will surely buy again! It’s a fact that most business owners focus on ardently pursuing the NEW CUSTOMER and to hell with the old! Well that’s how it feels when you’re the “old” ignored and neglected client!
It’s bad economics and poor planning, no matter what the reasoning behind it.
Think back to the last time you bought a new car. After you finally signed on the dotted line, having been hotly pursued by an enthusiastic, “let me bring the car to you” kind of salesman, did you ever hear from that car dealer again? Understandably, the dealer needs to keep making sales, but I’m talking ever. Did you EVER hear from them again?
Imagine all the sales they’ve made in the past, the THOUSANDS of sales, which equates to THOUSANDS of people who have already bought from them. Most people will be looking at upgrading their vehicle every few years, but does the car dealer appear to view these people as “proven” clients and so worthy of contacting? In only the rarest of cases.
And it’s not exclusive to the car industry, it’s common behaviour in EVERY industry! Did that bicycle business ever make contact to see if you were in the market for another bike? Did the Real Estate agency consider you might be interested in another piece of real estate? Did the rug company make contact to make you an offer prior to announcing a sale? What about the shoe company? What about the restaurant? And on it goes.
In many cases, these industries are spending an astronomical amount of money advertising for new clients on a weekly basis! And there you are wanting what they’ve got, but in the meantime, another company catches your eye or makes you an offer and they’ve “lost” you.
Are you “losing” business because your focus is on the new and yet to be “proven” customer? Are you sending out leaflets with an offer with something stupid like “This offer is for NEW clients only” written in big bold letters? If so you might as well tell all those who’ve bought from you before that they are worth nothing to you now that you’ve sold them something.
Expend your energy making sure that your TOP 40% or 50% of clients are talking about YOU! Give them reason to become advocates of your business. Turn your customers into FANS!