PaulSimister
12-19-2008, 09:58 AM
Did you know that it is estimated to cost between 500% and 1,000% more to sell to a new customer than it is to sell again to an existing customer.
When you stop to think about it, the logic is impeccable.
Your existing customers already trust you and they know that you can deliver on your promises.
But when you market to suspects and prospects, they are much more dubious about your claims. You know that you are telling the truth, the prospective customer thinks that you may be prepared to say anything to get the order because they have been smooth-talked before.
So let me ask you a question.
Do you do everything you can to persuade your customers to buy more from you more often or do you expect them to come back to you when they are ready to buy again?
Or could it be that you could do more and there is opportunity for more profit in your business?
If you concentrate on your customers and meeting their wants and needs, you are in a small minority because most businesses have what I call "hidden profits".
These are opportunities where they can focus on their existing customers' needs and sell more by keeping in regular contact and developing a stronger relationship which also leads to more referrals.
To help you to find and exploit these Hidden Profit opportunities I am putting on a series of webinars with some of the best business minds in the world.
And it all starts on Thursday 15th January when I talk to top business coach and former entrepreneur Scott Hallman on a free webinar.
So if you are tired of trying to grow the hard way by attracting new customers and you are ready to learn how you can help your customers and make more money register at
Scott Hallman webinar (https://www2.gotomeeting.com/register/934421813)
or you can find out more details on my blog at Increase Profit By At Least $5,000 (http://businesscoaching.typepad.com/the_business_coaching_blo/2008/12/scott-hallman-webinar-increase-profits-by-at-least-5000.html)
The simple fact is that new customer marketing is difficult and risky at any time in the economic cycle but it is particularly difficult in a recession when buyers are looking to avoid taking any risks.
You can find out more about this in the Making Money magazine available in all good newsagents in the UK. I was interviewed on this very theme.
When you stop to think about it, the logic is impeccable.
Your existing customers already trust you and they know that you can deliver on your promises.
But when you market to suspects and prospects, they are much more dubious about your claims. You know that you are telling the truth, the prospective customer thinks that you may be prepared to say anything to get the order because they have been smooth-talked before.
So let me ask you a question.
Do you do everything you can to persuade your customers to buy more from you more often or do you expect them to come back to you when they are ready to buy again?
Or could it be that you could do more and there is opportunity for more profit in your business?
If you concentrate on your customers and meeting their wants and needs, you are in a small minority because most businesses have what I call "hidden profits".
These are opportunities where they can focus on their existing customers' needs and sell more by keeping in regular contact and developing a stronger relationship which also leads to more referrals.
To help you to find and exploit these Hidden Profit opportunities I am putting on a series of webinars with some of the best business minds in the world.
And it all starts on Thursday 15th January when I talk to top business coach and former entrepreneur Scott Hallman on a free webinar.
So if you are tired of trying to grow the hard way by attracting new customers and you are ready to learn how you can help your customers and make more money register at
Scott Hallman webinar (https://www2.gotomeeting.com/register/934421813)
or you can find out more details on my blog at Increase Profit By At Least $5,000 (http://businesscoaching.typepad.com/the_business_coaching_blo/2008/12/scott-hallman-webinar-increase-profits-by-at-least-5000.html)
The simple fact is that new customer marketing is difficult and risky at any time in the economic cycle but it is particularly difficult in a recession when buyers are looking to avoid taking any risks.
You can find out more about this in the Making Money magazine available in all good newsagents in the UK. I was interviewed on this very theme.