Some sources say it costs six times more to acquire a new customer than it does to get an existing customer to purchase from you. More effort and money to get a new client. Less effort and money to keep an existing client. So many of us are busting our butts, working diligently to increase our revenues and profits by finding new clients when the answer is right in front of our faces!
Our existing customers already know, like and trust us. We’ve worked so hard to develop relationships with them. We connect with them one-on-one, regularly. We know their needs and preferences, so it’s easy to cross-sell and up-sell other products and services. Right?
WRONG!!
Most of us are not building relationships with our existing customers and connecting with them one-on-one. We are getting them on our lists only to bombard them with regular ad blasts. We don’t know their needs and preferences because we don’t bother to ask.
Once we figure out that this way of doing business will not allow us to reach our aspirations, we need to get the right processes and technology tools in place. How often will you communicate with your existing clients? How often will you connect with them, one-on-one? Which channels will you use: email, telephone, social media? What data and information will you collect that will help you to provide better, customized products and services? This is just the beginning.
Choose your customer management software carefully.
While there are many CRM tools available, the best one for you and your business will be the one that fits within your budget and meets your needs and requirements. I understand that with all the options out there, it can be overwhelming. Be careful about the information you receive directly from the CRM vendors. Some will say whatever they feel they have to in order to get you to spend your hard-earned money. Find a good unbiased technology consultant, who has nothing to gain from the sale of these products, other than your business. Their utmost concern should be what’s best for you and your company.
Now, go and maximize those relationships!
Lavada Thompson
Owner & IT Consultant
Gems Shine Consulting
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