Do you Educate your Customers – for Customer Retention?
I was speaking to a group of clients recently and they were feeling a little overwhelmed and frustrated around losing valuable customers. Sometimes, as a busy business owner, we can forget about keeping a strong relationship with our existing clients. So why do our customers leave us? It can cost up to five times more to buy new customers than retaining existing ones. Did you know that 13% of dissatisfied customers tell up to 20 others about their concerns? Imagine how that effects your reputation within business. After all we are always looking for referrals, don’t you think?
Here are couple of reasons why customers leave us:
So let’s look at Educating them!
Educate them about what, you may be thinking. Well, consider this, many businesses focus solely on attracting new customers, but you NEED to spend a good chunk of your time retaining current and former customers. These are people you already know to be a good sales potential…they’ve already bought from you!
Take the time to market and sell new products to your old customers and less time trying to sell old products to new customers and you will see a drastic change in your sales, customer quality and branding position.
Here are a couple of key elements to use to retain your current customers:
There are three cornerstone ideas to a successful business:
Use this approach of educating your customers and offering them real information and insight and you will be rewarded with loyalty and success.
Stop wasting all your time on new prospects while your current customers fall by the wayside!
As Jay Abraham says, “Your best prospects are your existing customers. If you’ve been putting all your marketing efforts into acquiring new customers, stop and diverts some of your resources into reselling, upselling, cross-selling to those same customers. In every ways possible – through package inserts, regular mailings, special offers – stay in touch with those customers and get them used to buying from you.”
So, there it is! Remember, our FREE test drive can help you put together the resources and tools to do exactly that. We can help you educate your customers and you can watch the benefits pay offer many-fold.
I hope this article has been of value.
Marketing Strategist and Business Development Specialist
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