When was the last time you told your customers how much you loved them? And I am not talking about a ‘special discount for our best customers’ (everyone that ever bought from us in the past year or two).
What do you do to ensure that the first time buyer’s experience with your product or service meets or exceeds expectations? Do you call them a day or two after the purchase just to check in and answer any questions? Do you send a ‘Thank you’ note with a little gift?
Or do you send them the weekly sales flier and their monthly invoice?
If you want a first-time buyer to become a repeat buyer, you might want to develop a formal process for making certain that their experiences with your company continue to be positive. You might want to think about ways to motivate them to try new products and services beyond “Buy it and save %” because that’s a commitment that they might not want to take.
Wouldn’t you love it if….
You buy a new barbecue grill and the retailer sends you a little gift that happens to be samples of the spices and sauces they sell.
You buy a new car and the dealer gives you free oil changes and car washes – and maybe even guarantees a higher trade in value if you let them do all of your maintenance.
You subscribe to cable and Internet service and the company calls you when they have a new promotional package that gives you more for less – or every once in a while, out of the blue, they let you watch a movie On Demand for free.
Most businesses fail to turn a profit on a new customer – it costs more to attract them than the profit generated on that first buy. That means you need repeat buyers to drive profits. And yet most companies spend the majority of their time (and resources) on courting new customers which means existing customers get ignored.
In 2010, if you want to differentiate your business and drive retention and referrals, show your customers a little more love. Be proactive. Be creative – it’s not about spending a lot of money – it’s about giving them something of high perceived value. And be sure that you have a process for up-selling, cross-selling and turning their referrals into new customers.
