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Do you spend
a lot of time and energy courting prospective new
customers, hoping to pump up your bottom line? If so,
you're probably missing an untapped source of sales that
exists right inside your company -- there's truth in the
statement that your customer list is your most valuable
asset.
There's a
gold mine of opportunities to make easier sales and
create a loyal following of customers that will return
time and again by using your existing customer base to
grow your sales. But when I ask small business owners
what action they are taking to keep in touch with
current customers, the answer is normally "we don't."
How do you
turn a pile of dusty invoices and sales receipts into
profit generators for your business? How can you create
loyal customers who will return time and again to
increase your small business bottom line? There are
three keys to creating customer loyalty.
1. Know Who
They Are
Do you?
Compile and maintain a list of your customers. Track
their habits. Monitor your list so you know when they
are doing business with you differently. Then ask why.
2. Know What
They're Worth
I overheard
a remark the other day. It was, "Oh, that lady. I barely
pay attention to her. She comes in twice a week, but
only spends about £5. What a waste of my time." Have you
had the same thought about any of your customers? Before
you dismiss the customer that only spends £5, take a
look at her long-term value. How often does she purchase
over time? How many people does she refer to you that
have the same spending habits? A £5customer can really
be worth over £50,000 in the long term and should be
treated like a queen.
3. Take
Action
Your
customers are busy people. They need to be reminded that
you exist and how you can eliminate their pain (wants or
needs). Have you ever received mail from a company and
decided to save it so you could "check them out later?"
Then you find that piece of mail in your "to do" stack
months later and realize you never contacted them. Your
customers do that too. You have to remind them. Often.
Customer
loyalty is not rocket science. But it does take
consistent effort. Over 90% of small business owners are
letting money walk out the door of their business each
and every day. Are you one of them?
Denise O'Berry helps small business owners
identify and execute the steps necessary to grow their
business. Find out more at
http://www.targetreferrals.com
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