You’ve heard it before but it bears repeating. Without your customers, you would not exist. Your business would dry up and go away and never be seen again. Customers are truly the blood and life of any business. Your customers aren’t there for you; you are there for them. Remember, they can always go elsewhere. Let’s think about it a little more.
Repeat Customers Are Cheaper Than New
Pleasing your current customer base is imperative; they are ten times more likely to buy from you again, and the cost of acquisition is less than the cost of getting a new customer.
Know the 80/20 Rule
Check to see if this is true for your business. Normally, approximately 80 percent of your revenue comes from existing customers. If that’s true, then only 20 percent of your revenue comes from new customer acquisition.
Get New Ones But Never Forget Your Current Customers
This isn’t to say that you shouldn’t get new customers; you should. All customers have an average lifetime value, and you need to continuously renew the customer list. But, keep marketing to your current customers.
Reward Existing Customers
When you get a new customer, always follow up with them and thank them. Let them know what else you have: training, other products and services, or even recommend companion products that you are affiliated with.
Say Thank You
So that your customers know how important they are to you, ensure that the content you create mentions the customers you have, and states how important they are. In today’s culture, it seems like a lot of large companies forget customer service and don’t care. Stand out by doing the opposite.
When you segment your customers on your list on the basis of their behavior, your marketing messages will be more accurate. You’ll make your customers happy and they’ll feel like they are valuable and important.
Know Your “Why”
This should be in your mission statement. If you don’t have one, write one. Your mission statement should focus on what you do, who you do it for, how you do it and why you do it. All of that needs to point directly back to your customers, as they need to be your ultimate why.
Your customers are the most valuable asset your business has. Nurture them, thank them, and recognize them. Remind yourself as often as you can about why you’re doing what you’re doing and who your audience is exactly. That way you can prevent becoming so product and self-focused that you forget to be customer centered.