Offer your customers what they want, sound simple but is often overlooked in small business. Go through the process of finding out what your customers actually want to buy and if necessary redesign and repackage your product to suit exactly what they require. This is not a one stop exercise, continue to review your offering periodically though market research and listening to customer feedback.
Where do you spend most of your sales time, is it looking for new customers? Shift your modus operandi and throw some resource behind pampering your existing customers. Whether you see it or not, they are your biggest asset and you should work flat out at the rapport you create with one off customers with the view that they may generate repeat business. Always remember too that keeping customers costs your business five times less than trying to get new ones.
Chances are you have a great rapport with your current clients, so ask them to refer your services to their other contacts. If necessary consider incentivising both parties. Get testimonials from them and use them in your own marketing. The most cost efficient and effective way of gaining new customers can be through referrals, especially if you work tirelessly to make the most of them.
Reward customers for loyalty and ensure repeat business. There are many ways to do this, ranging from something as simple as a card or letter at certain times of the year sincerely expressing your thanks for their custom, how much you value them as a customer and by the way is there anything else they need now, to a monetised incentive such as a discount voucher.
Carry out some analysis on your product range and client lists. There is a classic rule, the eighty/twenty rule from Pareto that generally applies. In these contexts it would imply that 80% of your business will come from 20% of your clients and that 80% of your profit will arise from 20% of your products.
Similarly, the majority of your business probably arises from a small proportion of you clients, along the same guidelines. Once you know this, adjust your business to maximise the effectiveness of product and clients.
Do you have a policy to resolve conflict with customers if they complain about an element of your service. If not, create one. Don’t react in a negative manner to complaints, instead offer a fast and relevant resolution that makes the customers experience absolutely perfect. They will then recommend you in the market positively. The damage done through word of mouth from a customer detailing a bad experience is too severe to contemplate.
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