How many of your "customers" repeat purchase from you? Do you know? I ask because so many companies don't know or don’t care.
The tried and tested way to make money is to acquire clients at the lowest cost and then get them to buy again and again and again.
Easy really. So why don't more companies do it?
The commonest complaint and/or request I receive from businesses is; “we need more customers”. A few questions later; we’ve uncovered what is happening. We find that there are, in fact, lots of customers. The problem is the business isn’t very good at hanging on to them.
Too many businesses only focus on acquiring new customers. They forget about the rich vein of existing customers that they already have and could sell more to. The sales commission model nearly always drives sales activity towards new customers. Retention and repeat business is rarely targeted or rewarded.
It is bad enough to ignore your existing customers but it’s even worse to drive them away. Most businesses don't even realise they have driven these customers away.
Customers want to buy from businesses they know, like and trust and they want to be treated well. So, if you don’t want to keep your customers then here are 4 ways to drive them away!
I’ve seen businesses secure 50%+ uplift in sales by getting this bit right. Remove the ‘in’ parts of your business and you’ll be consistent, competent and convenient; then stop ignoring customers and make more sales.
First step is to investigate what’s going on. Secondly talk to customers, ask them because you don’t know what you don’t know. Solve the problems; reset the standards and enforce them.
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