One of the biggest mistakes businesses make is spending too much time, money, and effort looking for new customers. While this investment is sometimes worthwhile, they overlook the opportunities in their own “backyard” – their existing customers.
Some of you may have already read the “Acres of Diamonds” by Russell H. Cronwell. It’s a true story about a farmer who lived in Africa. He was living comfortably until he heard stories of people becoming rich by finding diamonds. He got so excited of the idea that he sold his farm, left his family and traveled to Europe. After years of searching, he did not find the wealth he was looking for. He went broke, and took his own life.
Meanwhile, the new owner found some shiny rocks on his land. Later, he realized that they were diamonds. The farm then became known as Kimberly Diamond Mine, the richest and largest mine in history. The original farmer had Acres of Diamonds, but he sold it in search of fortune elsewhere.
It’s Not Always “Greener On The Other Side.”
The lesson of the story is that the grass is not always “greener on the other side.” This principle also applies to your business. You already have your own Acres of Diamonds; you are just not utilizing it.
Customers are the lifeblood of your business. Once you acquire them, you need to look after them by giving them what they need. After you have sold a product or service, offer them something else, which complements their first purchase. Thus, you generate repeat sales from their existing customer base. This approach is called “back-end selling.”
In today’s competitive world, loyalty doesn’t come free, it needs to be earned. If you want them to buy from you again, it’s imperative that you take the right steps. To achieve this, you need to grow your relationship with them.
It’s Not About You: It’s About Your Customers
Customers want to be remembered. They want to feel that you value their business. If they don’t hear from you, they’ll forget about you. To stay in touch with them, one of the most effective yet inexpensive marketing tools you can use is Online Content and Newsletters. This will help you engage with existing customers, generate referrals, bring back lost customers and establish credibility.
When communicating with your customers, it should be about them, not you. Focus on their needs & frustrations, not you and your company. Send them valuable information, ideas, solutions, special offers, discounts, coupons, etc. As a result, you will build trust, stronger relationship and eventually turn your efforts into profits.
