Why Are Existing Customers Important?
Every business wants more sales … but how?
What if you could increase your sales with minimal spending? That would be perfect right!? Well, the easiest way to do this is to repeat, sell to your existing customer. Targeting your current customers as a source of new revenue can be a highly effective marketing strategy for businesses.
After all, it’s easier and more cost effective to sell to someone who already knows and trusts your business than to attract new ones.
Attracting a new customer to your business costs around 6-7 times more than it does to re-sell to an existing one who has already purchased from you or who is using your service. So, why not put your concentration and efforts into your current customers; the probability of selling to an existing customer is 60-70% in comparison to the 5-10% probability of gaining a new one.
How Do You Sell To Existing Customers?
There are two ways:
- Customer Retention
By definition, customer retention is the activity a company undertakes to prevent customers from defecting to alternative companies.
A 2% increase in customer retention is the same as a 10% decrease in your costs (Leading on the Edge of Chaos, Emmet Murphy & Mark Murphy)! Wouldn’t every business owner like to reduce their costs by this amount? I know that this is my director’s dream. Here at Smart On Hold, we work hard on to provide outstanding customer service (it’s one of our key selling points).
The reason being that once we have spent time, effort and resources with our customers, we want to prolong our customer lifetime with Smart On Hold. Successful customer retention starts from your very first contact and continues throughout the entire lifetime of the relationship you have with your client.
Why not prolong it with excellent customer service and get high levels of customer retention in your business.
- Customer Service
We know how valuable a customer is, so why do we still experience bad customer service from many businesses? With customer loyalty being at an all-time low in this world at the moment.
We need to ensure that our customer service is first class, so that we can increase retention as long as possible. Price is no longer the deciding factor. If a customer, experiences poor service then this is what is could make them leave – and also tell a lot of people about this service!
How Do You Maintain Existing Customers?
Remember, cost is dramatically reduced when we market and sell to existing customers and make them feel special by offering them high levels of customer service. Many businesses offer promotions and discounts to new customer – yet they neglect to look after their loyal and existing customers.
Why not do a promotion to existing customers only? Or promote your new product or service as an add on or additional sale to all of your existing customers prior to aiming at new customers. Who you have no relationship with yet. This is a great way to test the market, be cost effective and get sales.
Want one of the quickest, effective, low cost ways to let your callers and existing clients know about a promotion? New Product? Or event? Then promote it through your Messages On Hold.
If you already have your customers calling you, whether it’s for spare parts, customer enquiries or other questions, why not promote your products to them whilst they are On Hold? They’ve already called your business, if you don’t then you’re missing a great opportunity.
Your On Hold Messages are a perfect place to implement customer service too – phone answering FAQ’S, save your customers time with tips and information about your business too. Smart On Hold uses this precious time with your potential and existing customers on EVERY call to generate more enquiries. Improve your professional image and improve your creditably.
So, if you want to promote to your existing customers, provide exceptional customer service, make the most of your cost effective marketing channel. And more then you should get Smart On Hold to custom make your Messages On Hold and Music On Hold. It’s the easiest and quickest way to improve you customer service and increase enquiries by up to 40%.
Why Should We Show Care To Our Customers?
Just remember keeping your callers and existing customers happy and providing customer service could lead to great word of mouth and even referrals to your business! Look after your customers and they will for after you.
Let us know what you think! Leave us a message in the comment section below!
Smart On Hold
Smart On Hold – How to Plug the Gaping Hole in Your Sales System with a Fully Guaranteed Done for You Smart On Hold Messages Solution: Imagine This In Place, Customised For Your Company And Always Up To Date. Find out more.
Contact us or call us now on (07) 3117 0700!