September 30, 2008
What is the value of our current customers? In sales it seems we are always striving to get the next customer… So much of our time and effort is spent towards new customers. As sales professionals we do many things to get the next customer or client. Our sales cycle could be hours, days, months, or even years. All of this work just to get the next new customer.
And then it happens! We win the next contract, get the new client, win over our newest customer. Depending on what you are selling you may or may not have some role with this new customer , possibly in training, roll out, or just insuring the sale is complete. At some point our new sale is finished. You are done, the sale is final, and hopefully you have been paid, only to move on to do the cycle all over again. Spend all that time and energy to get the next new customer again.
So that’s it! Let’s move on to the next customer! Right? Wrong! Who is more important to follow up with? New leads, old leads, or existing customers? Existing customers! Don’t get me wrong, you always need to have a constant flow of new customers. My point is the customers you already have are a great resource for new ones! John Jantsch from Duct Tape Marketing talks about this in his article What’s Your Referral Number? John suggests creating a percentage baseline for the number of clients referring business to you. Finding this number will allow you to improve on your processes so you can achieve the maximum referrals from your clients. Following up with your current customers will not only help you with your customer retention, it will also lead you to new customers. Why not start tomorrow by calling 10 customers you have not spoken to in the last 30 days. Just check in with them and see how they are doing. Make sure they are happy with your product or service. Ask them if you can do anything for them. It shows great customer service and you might just receive a referral to your next new client!
Remember the time you focus on your current customers will allow you to attract new clients with ease. Sometimes the all alluring next new client is right in front of you! All you need to do if followup, stay engaged, and build on the relationship you have already created.
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