How to Get the Most from your Existing Customer Base
December 15, 2010
This needs no introduction!
- 80:20 – Prioritise 20% of your customers will provide 80% of your income. Work out who they are and focus on them.
- Customer Service Good service isn’t good enough. Rise above the competition and treat your customers to outstanding service. 80% of great service is giving your customers what they want, when they want it. 20% is personal relation building, treat your customers to feeling special. Care about what they want and how they feel after doing business with you. Happy customers are out there advertising for you to their friends, unhappy customers will tell the world about their horrific experience (literally! the last thing you want is to see a Tweet or a post on Facebook rubbishing your company).
- Solve your customer’s problems Extending your great service, put yourself inside your customer’s head and work out what their problems are. Then solve them. If you can’t work out what they are then ask.
- Feedback Asking your customers for feedback makes your customers feel good and is a sign that your company is looking to make improvements. Don’t forget to follow up with how you are responding to their feedback.
- Testimonials When asking for feedback (4), also ask what they like about when dealing with you. Ask if you can use these comments as testimonials. They will feel an emotional link to your company and know that their input is appreciated.
- Referrals At this stage your customers are feeling pretty happy. Ask if they mind recommending your company to their own contacts. Extremely powerful.
- Upsell Don’t forget that customers who have purchased Gismo A six months ago would probably love to upgrade to Gismo A Deluxe with its new features.
- Cross Sell Don’t assume that your customers know your full range of products. (Do you know all the services I provide?) You need to remind them on a regular basis.
- Raise Prices Customers WILL accept price increases provided you are honest. If you tell them why you are increasing prices (and not because you want to earn money quicker!!) and why the product is worth this amount your customers will continue to purchase.
- Sell Other Products Sell other products to your customers. If there is an opportunity to increase your service/product range while maintaining your quality of service then by all means do so. Most of us prefer to purchase as much as possible in the one place. (How many of us go to the Supermarket only when we could save by going to the vegie shop, butcher, fish shop….).
And there you have it!