Taking Care Of Existing Customers
‘I want new customers!’
Are you sure? How about making more of the old ones?
Who doesn’t want new customers? Almost everyone. Often it’s our single focus. How much of your valuable thinking time, energy and budget do you spend dreaming up and executing new marketing initiatives including investing in tailor-made CRM software for better customer service. Each one is designed to persuade more clients that they can’t live without the benefits of your products or services. These initiatives might be time-consuming and costly. But they’re always worth it in the end. Or are they? How often does the extra revenue they generate justify the outlay?
Meanwhile, back in the real world of day-to-day business – how are your ‘old’ customers faring?
“Oh, they’re fine – just steadily pottering along – some of them drop off, falling by the wayside. But, on the whole, they look after themselves.”
Hmmm … time to think again!
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The single biggest mistake
Repeat surveys show that the single biggest mistake that businesses make is to neglect their current customers. Let’s look at some stats -
The customer focus of UK companies -
New business 44%
Retention 18%
A balance between the two 38%
It’s five times more effective to sell to a current customer than to find a new one.
Look at this comparison of the average time and expense between winning new customers and gaining extra business from existing customers –
|
|
To win new customers
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New business from existing customers
|
|
Travel
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100 miles
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Nil
|
|
Marketing
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£200
|
Negligible
|
|
Cost of Sale
|
£200
|
Negligible
|
|
Meetings & Presentations
|
30 hours
|
5 hours
|
As for the success of your efforts to generate new business, these are the relative chances -
60 to 70% if you pitch to your existing customer
5 to 20 % if you pitch to a new prospect
So, now you can see why just a 5% improvement in retention rate can provide 25-85% of profitability
Knowing all they need to know
What are the elements that contribute towards marketing to your existing clients?
Unlock the potential of your business with Bespoke CRM. Start streamlining your operations and improving customer relationships today!
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A short sales cycle - Your prospect isn’t a prospect – they’re an existing customer. The relationship is already in place. Everything they need to know about you, they already know. They’re aware of your approach, your USP, your customer service, your reliability. You’ve almost closed the sale before you’ve started!
Cross sales and Up sales – You already know your customer. It will be relatively straightforward to devise and present additional, relevant and appropriate opportunities to cross-sell and up-sell.
Referrals – introductions - testimonials – Make your existing customers do the selling for you. Use their experience of your products, services as well as their knowledge of your approach to find you new customers.
A CRM system – your secret salesman
Your tailor-made CRM system will be the perfect tool for managing your efforts to market to your existing customers. We design our systems to work for you - not the other way round. You’ll have all the data, all the processes you need, at your fingertips, poised to work on your behalf.
Take a look at our credentials. Read what others say about our unrivalled ticketing support system and see how we provide the Software Maintenance.
Call us on 01604 211370 or Complete our contact form
FAQs
Q. What is a custom CRM?
Q. What are the benefits of using a custom CRM?
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Q. How long does it take to develop a custom CRM?
Q. How much does a custom CRM cost?
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