COSTS GOING UP IN YOUR BUSINESS?
Learn How to Build Referrals From Your Current Customers
How many days of the week are you working to simply stay in business? Business overheads can be a daunting prospect for new business owners and even for those that have been trading for years see the cost of doing business growing annually. Rental for the premises, wages, taxes, stock, advertising, stationery, online expenses and so on. It never seems to end!
Could the solution be as simple as having more customers? This might certainly help but what about those customers you already have in your database, if you have one? Does your experience with the customer end when they have made a purchase and walk out of the front door? Do you have regular customers and even not so regular customers? This could be your untapped Gold Mine! Diamonds under your feet.
To understand this a little better, it may be a surprise to know the comparative cost of finding a new customer far outweighs the cost of retaining those you already have! Some sources have calculated between 5 to10 times the cost! Many say much higher, even up to 30 times!
Amazing!
Not really, when we consider how many people do not know about you and what you have to offer, compared to those that do! Yes, the cost of finding those people could add up very quickly. This could be the most expensive cost of doing business! Or is there a way of reducing this business expense?
Have you ever considered switching the focus of the business from a sales centric business to a customer-centric business? You may be very surprised to learn that business success is not just about the volume of sales but hand in hand with this is having a database of very happy customers! Customers are, after all, those who you make sales to!
Imagine having a large database of very happy customers who are out there spruiking your story! Could it be possible, that by simply asking these happy clients if they could or would refer others to your business, that you may be able to totally change the face of your business? Not only will you then have a completely new customer base but you have still retained those you already had.
You are now in the process of building a business built on customer referrals. In the process, you will also be dramatically reducing a major business expense and ensuring that your business remains in a growth phase. The customer comes first, nurturing their journey, sales as a second, resulting in growth, equals a happy business which will attract happy, satisfied customers and so the cycle goes.
If you’d like to know more about building Customer Experience and improving the number of referrals you receive from your current Customers I’d love to hear from you. We have some amazingly simple tools to help you achieve this. Once you know which Customers are already referring you to their friends and family you may want to treat them a little differently. Feel free to contact me at ckirkpat@localtag.com.au