Think about it – out of all the people in your field, someone chose you to perform the services they need. They rewarded you with actual money you could feed your kids with. That’s pretty special. While you need to bring in new clients to grow your business, escalating value for your existing clients should always take priority. Here’s why.
It’s called the 80-20 rule – 80% of your sales will come from 20% of your clients. People don’t like to shop around when they don’t have to. If they’re in comfortably with a business partner they know well, why change? The hassle of switching providers isn’t always worth the cost it might save. Long-term customers know who they like doing business with, and in some cases, are happy to pay more, knowing that it goes to the well-being of good people.
Needless to say, it pays to take care of these clients. So, how do you escalate value? There are two ways – by providing more things, and by providing what you already provide better. The key to both is listening.
When you track a client’s orders, take a careful look at what they’re spending money on. These patterns can often lead you to determine the problems they are facing, and how you can solve them. Customers get this all the time as an automated process anytime they shop online. (“Customers who bought this also bought…”) As automation is the norm, consider a personal invitation to try some related items. You know your client better than a computer algorithm does.
However, your solutions don’t always come in the form of add-on products or services. You have something else of value that they want – your authority in your sector. You’ve seen lots of clients come in with lots of different problems. They might just be the same ones that your best clients didn’t know they had. Write a helpful guide or checklist. If it’s an issue that would require a phone call, chances are you could make a guide out of it.
How do you make what you’re already providing better? Again, the answer lies in listening. Customer surveys are a real pain, aren’t they? How many have you thrown straight into the garbage? The key to a good survey is writing. With good writing, it won’t feel like one at all. If you ask the right questions and come to them through the right channels, they’ll be glad to fill it out. Take your time to write a really killer survey. Or, talk to a pro.
Special offers aren’t just a way to clear out your inventory. They’re actually very powerful tools whereby you can learn a lot about what exactly drives your customer to buy. Whether it’s the price point, the volume, or even just the wording of the ad, you can see what offers make your best clients bite, and build your strategies accordingly.
It’s about stewardship of your marketing campaign. It’s a lot of stuff to look after, I know, but your marketing works best when you look out for it. Just like your company functions best when you are looking out for your clients. Exciting new developments have been made in the world of marketing to help you keep track of exactly what’s working, and tailor your plan accordingly. If you’re in need of a watchful eye on your offers, check out Experimarketing to save yourself some time.
You wouldn’t be around without your customers. Model your company’s behavior after what your best customers like. They’ll take care of you, and you can do better business with others in return.