Are You Wasting Money Chasing Customers?
As a small business owner it's easy to become focused on always chasing new clients. But what about people who have bought from you already?
Here are four good reasons why you should concentrate on building relationships with existing customers to grow your business and save money.
- It's an easier sell
When someone has already bought a product from you or used your service, it's much easier to convince them buy from you again.
Generally speaking it takes less time and money to get a repeat order than it does to gain a completely new customer.
- You can use more cost-effective methods
Trying to win new clients via pay per click advertising or search engine optimization could cost you a significant amount of money and may not provide a positive return on investment.
If you have a database of email addresses from previous clients you can keep in touch with them quickly and cheaply using email marketing.
- Never underestimate the power of a happy customer
People like to be made to feel special, even if it's just a small gesture by your company. How many times have you seen companies advertise great offers that are only available to new customers?
Giving previous customers an incentive to buy from you again makes good business sense and can help create beneficial word of mouth advertising for your business.
- Free up more time to run your business
Having a steady stream of repeat customers coming through your doors or ordering online will give you more time to focus on your day-to-day business.
Constantly worrying about being able to find new customers can take its toll and also eat into your working week as you try a variety of different methods to find new people to part with their cash.
If you really want your small business to grow and have longevity, make sure you don't forget about those who've got you to where you are today.