How to retain the existing customers and keep getting new business from them?
Yes, this is an important question. We all know that retaining an existing customer is very important for any business. In sales studies we have found that acquiring a new customer is ten times costlier, than retaining an existing customer and getting business from him. Still my experience with lots of clients has been that most salespeople contact existing customers only if they are expecting business from them. Most salespeople lose interest in current customers as soon as they stop giving business.
Friends, nothing can be worse than this. Lots of salespeople ask me:- how to keep in touch with existing customers. Yes, I know, this is an important question. And my advice is that you can take the following steps for keeping in touch with your customers.
Understand that every customer is important. Calculate the lifetime value of your customers.
Create a documented retention marketing strategy.
Create a regular communication campaign to remain in constant touch with the existing customers.
Keep sending them some communication, time to time, like information about new product development, new Certifications, any awards and recognition achieved by your company.
Invite them for free service camps and offer discounted spare time to time.
Initiate a personal telephone call or a visit for few selected customers.
Invite them sometimes to your office/ factory visit or offer them a courtesy lunch or dinner.
Invite some important customers to your office on special occasion like foundation day, annual day etc.
Send nomination letters / passes to selected customers for some important industry events.
Send festival and special occasion greeting to all your customers.
Wish them happy birthday and happy anniversary.