7 Ways to Get More from Your Existing Customers

Most dealers I meet are not leveraging their existing customer database, and by not doing so, are losing out on a cost effective source of potential new business. Here are 7 ways to maximize the value from your most valuable asset.

For many of us our existing and previous customers are vital for three reasons:

1. They have already bought from us, so providing they had a good experience, they might buy from us again. We also know that getting a new customer is much more expensive than selling to an existing customer, so by continuing to sell to them, we are really saving ourselves some money.

2. They can give us invaluable feedback on how we did. Was our service good enough? Did we delight them or were we 'just ok'. Did our product or service meet their expectations? Was it good value for money? And so on.

3. They continue to save us money because they should be our major source of referrals and new business. So through them, we get access to new clients who already know about us and have a positive opinion of what we do.

Delight your Clients
Anyone with half a brain can satisfy a customer. But only when you continually delight customers will they keep coming back. You should aim to exceed your customers' expectations on every interaction that they have with you. Do this consistently, and you will have a customer for life.

Personalize, personalize, personalize
We are in an era where one size no longer fits all. We are in an era where one size fits one. It is highly personalized, customer-centric, customer-driven world today.

Known variously as customer relationship management (CRM) and one-to-one marketing, personalization is being practiced by businesses across all sectors of the economy. The message here is simple, give customers what they want and when, where and how they want it. The more your customers feel as though you are treating them individually, the more likely they are to continue their relationship with you.

Provide Guarantees
A guarantee is a powerful tool for keeping your customers when they might otherwise go elsewhere. With a good guarantee, you tell your customers where and how to complain, and that complaining is worth their time and effort. It also shows that you care. A good guarantee is unconditional, easy to understand, meaningful, easy to invoke and easy to collect on.

Ask for Feedback
If you don't know what your customers want, or think about you, your business, your product and your services, then you might as well close shop.

So have a process in place where you regularly ask them for feedback. And once they've given it to you, let them know how you are going to use it. They will begin to feel involved in your business, and are more likely to send other people your way.

Reward them for being Loyal
Loyalty marketing programs are designed to engender loyalty and increase sales from your best customers. When properly designed and executed, loyalty programs provide a vital link between your business and your customers, improving customer delight and increasing sales.

Keep in Touch
Keeping in touch with your customers is about maintaining relationships. Customers are most likely to keep buying from you if you have a strong relationship - if they trust you and your product/service. A Keep in Touch program is not the place for a hard sell. Keep it information based, concise and interesting

Implement a Referral process
Be very clear about who you want as a referral and why. The quality of referrals you receive depends on how well your customers understand what you are looking for. The best way to do this is to write it down for them, or discuss it in some detail - don't assume they already know. At the conclusion of every sale, ask them if they know of any other people who would benefit from your product or service.

Thank them for their referrals - every time. A thank you can be as simple as a hand written card, sent through the mail, to a set of movie tickets, a voucher, or even just a phone call.

There are so many ways that we can go one step further with the people who already buy from us. Make this a focus of your marketing efforts and you will soon see the rewards come back in the form of increased referrals and increased sales.

Need some help? Contact me


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