Customer Loyalty and Relationship Marketing

This month is International Customer Loyalty Month.  It is said that it takes 5 to 25 times more time and money (depending on which reports you read) to gain a new customer vs. working to retain the ones we have.

Statistics say that if a business retains only 5% of their customer base, it can increase their business by 50%.  Why?  Because loyal happy customers will keep buying and will refer new business.

68% of all customers are lost due to perceived indifference! A customer who feels appreciated will not go elsewhere when the competition comes calling.  They will remain loyal rather than go shopping for price.

Repeat customers spend 67 percent more. They are your referral engine.  After 10 purchases, a customer has typically already referred up to 7 people.

Giving Great Customer service = Good Business

Having Customer Loyalty = Great Business!

So why work harder when we can work smarter by continuously showing our current customers appreciation.  To keep relationships strong, businesses need to regularly remind clients that they are important to them. They also need to remind them who they are, what they do, what services they offer, and why they are their best choice for their product or service. Busy people tend to choose the fastest solution to a problem. By keeping in touch, a company makes themselves stand apart from the rest of the crowd and their clients are more apt to call them the next time they need their product or service.  Social media is a good way to remain visible to prospects and clients.  Email marketing is also good way to remind prospects and clients you are still around and in business.  But doing something more personal sets a business apart from the rest.  From page 115 of The 29% Solution ..."Good follow-up is not just doing what is required or what you've promised to do.  It also involves going BEYOND what is expected. 

Tradition says greeting cards are personal. Greeting cards have a traditional feeling of warmth and sincerity; our culture maintains that greeting cards are personal and are sent from someone with whom there is a relationship. In a world of impersonal form letters and mass email, memorable greeting cards are a refreshing marketing tool that will add a personal and memorable touch to the interaction with clients. By incorporating greeting cards into a retention strategy, the message is being sent to the client that an important relationship exists.

I invite you to check out a true referral system that is simple and easy.  SendOutCards has completely overhauled their system adding many new features making it is easier than ever to follow up and show prospects and clients real appreciation.  No more points.  No more expense account.  Just pay for the cards and gifts you send.  Try it out today.  It now works similar to an ITunes account.  Set up a Free account and see all the new features.  Or if you’ve ever had an account, it’s still there.  Download the app and even send cards from your mobile device.  Here’s the link  www.RelationshipMarketingMadeEZ.com  Click on ‘Business’ to see all the new features, i.e. premade drip campaigns for various industries.  A contact manager system that is some people pay hundreds of dollars for and it doesn’t send cards.  Or I can send you a short video that explains all the new features.  And I would be happy to talk with you and show you all the new features.  What ever is easiest for you, I’m here to help.

“We must not, in trying to think about how we can make a big difference, ignore the small daily differences we can make which, over time, add up to big differences that we often cannot foresee.”

                                                                                 - Marian Wright-Edelman

Happy Keeping in Touch,

Annette

Painted Lady Enterprises

‘Helping My Clients and Their Business Look Good’

Are You Easy To Do Business With?

My question comes from my recent two encounters with sales reps from almost opposite ends of the spectrum.  One that I couldn’t get enough information to make a purchase, to one I finally had to block their phone number to keep from getting their calls. 

So, comes my question of follow up and where is it not enough or too much.  I’ve used this graphic  

many times in regards to follow up, which many sales reps will admit they don’t follow up nearly enough.  But I believe with most prospects if we ask a few questions we can determine when and how often to follow up.

For Example:

• Ensure we have answered all the prospects questions and provided them with all the information they need to make a buying decision. 
• Ask when are they thinking of making a decision/purchase.    
• Ask if there is anything else you can provide to help them with their buying decision.   
• Also ask when would they like for you to follow up with them again. 

These questions give us an idea of when and how to follow up.

An effective way to keep in touch with clients is with email marketing and social media.  Email marketing and social media can be used to provide industry information and helpful hints to the client.  Most prospects and clients appreciate this type of marketing.  What most do not like is the daily bombardment of filling up their inbox with Buy, Buy, Buy – Now!  That type of tactics will have prospects and clients unsubscribing, un-liking, unfollowing, and disgruntled very quickly.  But good email marketing consists of providing helpful information about your industry with a sprinkling of special offers and sales, but the sales and offers should not be the main focus.  For most businesses, sending a monthly newsletter is a good way to remind your clients and prospects that you are there to service them when they are ready.

Here is my list of how to make yourself Easy to do business with:

1. Answer questions and be honest with the prospect
2. Provide the information they need to make a buying decision
3. Ask questions to determine parameters for them making a buying decision
4. Respect their time to do their due diligent
5. Keep in touch with periodic newsletters, social media, etc. with helpful information
6. Follow up depending on #3 and #4
7. Don’t hit and run – A No may mean, no for now or I’m not ready to buy yet.  Refer back to #5
8. Don’t be a pest with phone calls and emails especially if the prospect tells you they aren’t going to make a buying decision for 6 months to a year. 
9. Make sure they have all your contact information.  It’s part of every email signature, newsletter, etc.  Giving or sending a promotional product with your contact info is also a clever way to ensure they have your contact info nearby
10. And lastly – be truthful, reliable, and consistent in all your interactions.

What other advice would you add to this list?  Your comments and feedback are welcomed and appreciated.

Sincerely,

Annette

Painted Lady Enterprises

‘Helping My Clients and Their Business Look Good’

Love Thy Clients and Customers

Last week was International Networking Week.  I was asked to do a Lunch and Learn for a local Chamber of Commerce.  Part of my presentation stressed the importance of staying in touch with past customers and prospects.  So many businesses focus on getting new clients and sometimes they tend to neglect the existing clients they have.  I’ve always heard that it costs 5 times more to acquire a new customer versus keeping existing customers.  In an article by Inc.com, they explain this principle.  

Another math equation that’s hard to explain is; by retaining 5% of our customer base we can increase our business by 50%.  How is that possible?  If our current clients love our products and services they will refer us to their family and friends as well as other business colleagues when given the opportunity.  Who doesn’t prefer a word-of mouth referral versus other means of marketing?

They say the number one reason a customer leaves is perceived indifference.  They didn’t feel appreciated.  Can you relate?

So how do you develop and keep Loyal Clients?  Those who will buy again and again, write reviews, and refer you to their family and friends and other business associates?

Here are a few ways to show your clients you appreciate them:

• ·        Show them you care beyond the sale – Provide Great Customer Service before, during, and after the sale.  Exceed their expectations.  Show them you care.

• ·        Keep in touch – Depending on your industry, touch base with your clients periodically just to see how things are going.  Not to sell them something else.  Use high tech, low tech, no tech, whatever it takes to let them know you are there to be of service.

• ·        Provide information – Educating your clients on ways to use your service/product that will save them time and money.  Providing business tips and information.

• ·        Handle any issues and complaints in a timely expedient manner.

• ·        Make your client feel like a V.I.P.  Offer Value-added services and products as a way to say thank you for their on-going business and especially for their referrals.

• ·        Be a resource to your client.  Seek ways that you can be of service.  Be a connector.  Perhaps referring them to another business colleague who will help them.

• ·        Show gratitude – Not only after the first sale, but make it a ritual to thank your clients on an on-going basis, for example – some Realtors send a Happy Anniversary card every year on the date that the client purchased their new home.  Or have you ever heard of the World's Greatest Salesman - Joe Girard?  Click here to read his story.

By showing your existing clients that you care and are there for them, they won’t be so apt to leave when someone else offers a lower price.

We would love to hear your comments and the ways you show your clients you care.

Here’s to Happy Clients!

Annette

Painted Lady Enterprises

‘Helping My Clients and Their Business Look Good’