The Importance of Existing Customers
Are you forgetting your current customers?
It seems everywhere you look these days, businesses are trying new gimmicks to bring in new customers. From offering discounts for the first few months to giving out special packages, most businesses are trying their best to add to the number of clients or customers they serve.
While there is nothing wrong with this, these businesses need to ask themselves the question, “Am I neglecting my existing customers?” If your company has advertised a package or discount, do the words ‘offer invalid for existing customers’ follow?
If this sounds like you, here is a bit of information on the importance of existing customers.
Around 80% of your business comes from around 20% of your existing customers!
People enjoy sticking with a company if their products or services are great quality and the prices are fair. Not only do they have the desire to remain loyal, but they will pass your company name onto their friends and family – who then passes it on to their friends and family and so on. Ah, the beauty of word of mouth advertising. Even in today’s computer-driven world, it remains the best and most viral form of advertising.
Staying in contact with your current customers is also very important!
With the busy lifestyles most of us maintain, it’s easy to neglect certain aspects of our lives or forget about certain things we have to do. When you stay in contact with your existing customers, you remind them of your presence. As long as you do this in a way that isn’t invasive, your customers will appreciate it. Keep them in the loop; send out a newsletter, use a blog to keep them updated or use some other way to remain in contact with your existing customers.
Giving back to your customers is a great way to keep them and increase loyalty!
Your current customers are taking care of you – why not take care of them? Give out those discounts and extra packages to your current customers. This lets them know that you really value their business and you want to keep them. When you exclude your current customers from special packages and discounts, it’s like saying, “We’ve already got you and there’s no need to impress you any further.” That doesn’t work in a marriage and it doesn’t work in business. Give back to your customers and let them know just how important they really are.
While new customers are vital to a business’s growth and success, your current customers are just as important. Once you’ve gained the trust and patronage of a client or customer, you must work just as hard to keep it. By doing so, you will ensure the future success and growth of your company.
