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Nurtures Customer Relations

Leveraging the Customer Base  

When we talk about nurturing customer relations, we are talking about current customer relations. Most small businesses have a rich data base of existing customers that goes unused. Instead sales and marketing becomes 100% focused on bringing in new business. New business is good, but mining the gold from the existing customer base has the potential of generating more revenue at a lower cost than bringing in that new customer.

Consider this:
§    You have already built trust with an existing
    customer. They know you.
§   
It costs six times more to sell to a new
     customer than an existing customers.
§   
Sales cycle is shorter with current customer
     than with new customer.
§   
Current customers spend more than
    new customers.
§   
Managed correctly, existing customers feed
    your word-of-mouth marketing.
 

This isn’t as difficult as you may think. The restaurant/bar business understands the importance of developing a returning customer base and focusing on making that new customer into a returning customer.  Building these relationships means showing your customers that you care about them and providing a comfortable environment for them.

Earning long term customer loyalty is an ongoing challenge that has to be part of the overall marketing strategy to win a sustainable competitive advantage. A company that does not nurture their customer base will ultimately fail.    

Action Plan 

Create
Customer Contact
Data Base 

Implement
Customer Buying
Patterns Tracking
 

Establish
Customer Follow-up
Marketing Program

Design
Buying Experience
Focused on Needs

Feed
Word-of-Mouth
Marketing Program


 

Wilbanks Business Systems
10500 Spicewood Parkway ~ Austin, TX ~ 512-796-5278
Wilbanks@WilbanksBusinessSystems.com

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