How many customers do you have? A florist might say 1,000. Printers -- well, we have a few, too, right? How much is your average sale? For realtors (according to Google) -- about $260,000. For florists (I'm guessing here) -- $100. Printers... well, you know what you spend with us.
So think about it this way:
The big money isn't in creating products; it's in creating customers. A single, lifelong customer who lives his life spending the way you want him to may be worth six or seven figures. A single one.
That guy who spends $2,500 a year with you is worth $60,000 over a lifetime (25 years). That means you only need SIXTEEN lifetime customers to reach a million dollars. Want $10 million? That is only 160 lifetime customers.
Yes, I know it doesn't work that way all the time, or for everyone. But I also know this. Customer loyalty counts. And that's worth a million every time.
Showing posts with label customers. Show all posts
Showing posts with label customers. Show all posts
Tuesday, February 1, 2011
Friday, January 7, 2011
Follow-up is still crucial in today's wired world
Even in today's wired world of Twitter, LinkedIn, email, and smartphones, everyone misses an occasional call or is away when an important email arrives. Follow-up is essential in these instances to let your customer know you care.
When a customer contacts you, it's imperative that you follow up as quickly as you can. Even if you don't have time to give the customer's issue your immediate attention, provide them with a quick status update to acknowledge you've received their message and are working on the problem.
Unless the person tells you how they prefer being contacted, follow up the same way they first contacted you. If the person emailed you, reply with an email. If they left a voice mail, reply by phone. If they tweeted you, tweet them back. Some people prefer one means of communication over another. Usually, that preferred method is the one they will use when contacting you.
If you're working on a long-term issue with a customer, check in frequently to let them know you're still on the case. Even if you don't have a solution yet, just knowing you care enough to stay in touch will help to put their minds at ease.
When a customer contacts you, it's imperative that you follow up as quickly as you can. Even if you don't have time to give the customer's issue your immediate attention, provide them with a quick status update to acknowledge you've received their message and are working on the problem.
Unless the person tells you how they prefer being contacted, follow up the same way they first contacted you. If the person emailed you, reply with an email. If they left a voice mail, reply by phone. If they tweeted you, tweet them back. Some people prefer one means of communication over another. Usually, that preferred method is the one they will use when contacting you.
If you're working on a long-term issue with a customer, check in frequently to let them know you're still on the case. Even if you don't have a solution yet, just knowing you care enough to stay in touch will help to put their minds at ease.
Monday, December 27, 2010
Celebrating Your Company's Anniversary
We have a client who recently celebrated 15 years in business. Not that it matters, but 15 years is the average lifespan of a woodchuck. Being around for 15 years can be a big deal for small businesses and woodchucks.
It's important that your customers know about your longevity. People like doing business with companies that have been around for awhile. It makes them confident you know what you're doing. It's that competency thing you've heard so much about.
Sometimes, people are shy about getting older. My mother said her birthday is "just another day." When I'm 95, I'm going to celebrate every day as if it's my birthday. I'm going to let everyone know that I've made it another day, and I'm not going to be shy about it. Party like a rock star.
You shouldn't be shy about celebrating your business anniversary. It's an important event and will cost nowhere near what it costs to marry off your daughter. Given all the goodwill marketing you will receive, getting out the word is extremely inexpensive. We all like inexpensive.
Start with anniversary labels. Stock labels have been around for years. Stock labels look like stock labels. If you take marketing seriously, spend a few more pennies and get some custom made. Stick them on everything. Next year, they will be as passe as today's television network schedules.
How about some thank you cards for loyal customers? People like thank you cards, and it's becoming a lost art. Thank you for being with us over the long haul. Here's a 10% discount for being loyal. We need you, and I hope you need us. It's a partnership we'd like to continue in the future. It's a better deal than Conan O'Brien got from NBC.
Testimonials. Nothing is better than testimonials. Print a simple brochure you can stuff into every envelope you mail. "A good belt keeps your pants up, and there's no better place to buy a belt than Ernie's Belt Shop." I'm a printer. A few years ago, I did a testimonial for a paper company. I got four orders from it. Testimonials work two ways. It's a gimme.
There are so many more ideas. We can work together to see what fits you. Give me a call. Shoot me an email...and happy anniversary.
It's important that your customers know about your longevity. People like doing business with companies that have been around for awhile. It makes them confident you know what you're doing. It's that competency thing you've heard so much about.
Sometimes, people are shy about getting older. My mother said her birthday is "just another day." When I'm 95, I'm going to celebrate every day as if it's my birthday. I'm going to let everyone know that I've made it another day, and I'm not going to be shy about it. Party like a rock star.
You shouldn't be shy about celebrating your business anniversary. It's an important event and will cost nowhere near what it costs to marry off your daughter. Given all the goodwill marketing you will receive, getting out the word is extremely inexpensive. We all like inexpensive.
Start with anniversary labels. Stock labels have been around for years. Stock labels look like stock labels. If you take marketing seriously, spend a few more pennies and get some custom made. Stick them on everything. Next year, they will be as passe as today's television network schedules.
How about some thank you cards for loyal customers? People like thank you cards, and it's becoming a lost art. Thank you for being with us over the long haul. Here's a 10% discount for being loyal. We need you, and I hope you need us. It's a partnership we'd like to continue in the future. It's a better deal than Conan O'Brien got from NBC.
Testimonials. Nothing is better than testimonials. Print a simple brochure you can stuff into every envelope you mail. "A good belt keeps your pants up, and there's no better place to buy a belt than Ernie's Belt Shop." I'm a printer. A few years ago, I did a testimonial for a paper company. I got four orders from it. Testimonials work two ways. It's a gimme.
There are so many more ideas. We can work together to see what fits you. Give me a call. Shoot me an email...and happy anniversary.
Tuesday, December 14, 2010
Too Much of a Good Thing
Choices are good, right? Yes... to a point. Neuropsychologist Susan Weinschenk wrote, "Resist the impulse to provide lots and lots of choices to your customers. Remember, they will say they want lots of choices, and you will think that lots of choices are a good thing (because you like them, too), but having too many choices means many customers won't buy at all."
Seriously, if your marketing is all over the place and you are offering a zillion different things in a zillion different ways, you are in real danger of driving customers away.
Study after study show that while people do want choices, having too many choices makes it harder for them to pick... and that means they might walk away in frustration.
So simplify your offers. Make it clear what the offer is and when that offer ends.
Hick's Law states that the time it takes to make a decision increases with the number and complexity of choices. As decision time increases, the user experience suffers. Don't make your customers suffer.
Seriously, if your marketing is all over the place and you are offering a zillion different things in a zillion different ways, you are in real danger of driving customers away.
Study after study show that while people do want choices, having too many choices makes it harder for them to pick... and that means they might walk away in frustration.
So simplify your offers. Make it clear what the offer is and when that offer ends.
Hick's Law states that the time it takes to make a decision increases with the number and complexity of choices. As decision time increases, the user experience suffers. Don't make your customers suffer.
Tuesday, November 2, 2010
Targeting "Me"
The single best sales strategy in the world is to find your best clients and ask them, "How do I get more clients like you?"
I was in a store last month chatting with the owner, and she said to me: "You're my ideal customer; how do I get more of you?" I thought about it for a moment and told her how I'd found her. We then sat down for a while and figured out how to target more 'me's'. (I am a printer and a salesperson after all!) I was able to buy her a mailing list for people in her demographic and do a series of direct mail pieces to people like me.
Because she asked her customer how to grow, her customer actually answered. So, talk to your customers!
I was in a store last month chatting with the owner, and she said to me: "You're my ideal customer; how do I get more of you?" I thought about it for a moment and told her how I'd found her. We then sat down for a while and figured out how to target more 'me's'. (I am a printer and a salesperson after all!) I was able to buy her a mailing list for people in her demographic and do a series of direct mail pieces to people like me.
Because she asked her customer how to grow, her customer actually answered. So, talk to your customers!
By Jennifer Adelman
Friday, October 8, 2010
Mining for Data Gold
Information is power. You and I both know that, but you may not realize just how powerful information can be or how it can be used. Think of the marketing power behind what you know. The children's shoe shop that collects the names and birthdays of its small customers can use that data to send out personalized postcards with a birthday coupon. Flower shops can keep track of anniversaries. Vets can send out updates about shots.
Your database represents a goldmine of information for all your marketing plans...but many small businesses are awful at maintaining a great database. Are you? Is your goldmine brimming with information, or is it played out?
This weekend, spend some time updating, editing, and cleaning your database. Gather names, addresses, phone numbers, and email information from your invoices, handwritten notes, emails, and existing data. Then put all of that information into one database you can use. Your "database" may consist of little more than a simple Excel spreadsheet, or it may require a more robust solution, such as ACT, Goldmine, QuickBooks, or any number of other options.
Going forward, get your staff to ask for complete information. Create a basic information form or questionnaire for customers and prospects, and use it to get the kind of information you can use to better know – and understand – your customers and their needs.
Your database represents a goldmine of information for all your marketing plans...but many small businesses are awful at maintaining a great database. Are you? Is your goldmine brimming with information, or is it played out?
This weekend, spend some time updating, editing, and cleaning your database. Gather names, addresses, phone numbers, and email information from your invoices, handwritten notes, emails, and existing data. Then put all of that information into one database you can use. Your "database" may consist of little more than a simple Excel spreadsheet, or it may require a more robust solution, such as ACT, Goldmine, QuickBooks, or any number of other options.
Going forward, get your staff to ask for complete information. Create a basic information form or questionnaire for customers and prospects, and use it to get the kind of information you can use to better know – and understand – your customers and their needs.
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