Posts tagged small business marketing
The story. Every business has them. You know what I am talking about. The story about an unusual experience a customer had, over the top customer service, out of the box thinking that solved a customers problem.
I called my dry cleaner to see if they could stay open an extra 15 minutes as I was running late but needed to pack for a business trip. The clerk couldn’t accommodate me but later that evening, the owner showed up at my door with my order in hand. What made this more amazing is that the address on the ticket was our home but we were under construction and were living in a rental. Yet somehow the owner tracked us down. (Thanks Mark at Park Sheridan).
The challenge facing every business owner, where a SOHO or a large enterprise, is to turn their most loyal customers into promoters, those people who will eagerly spread the word.
Here are 3 steps to turn this love into profits. (Note this article was inspired by Bain’s Insights.)
What To Do After You’ve Made the Sale?
Think you’re done?
Nope. Not if you want to grow your business. The trick is to turn this sale into more sales and then more…………..
Why is this so important? Because it is said (whoever ‘it’ is) that it is five times more expensive to acquire new customers – than to retain existing ones. According to the Harvard Business School, a 5% customer retention can increase profiles by 25% and even as high as 95% while Marketing Metrics states that the probability of selling a product to existing customers is around 60 to 70%, while the probability of selling to a new customer is only 5% to 20%.
People are tired of the impersonal, are weary of being ignored and want to be heard and acknowledged. Turn this into your advantage and your customers will become your salespeople.
Here are 5 tips that will let your customers grow your business for you.