I often write about networking and expanding one’s business market, but I also think it is important to stress that it actually costs LESS in terms of business expenses to keep existing customers than it does to find, cultivate and create new ones. This is the reason we need to make sure that we work on retention as well as networking for new prospects.
A huge chunk of my work background is in nonprofit management and fund development. I learned over my many years of helping nonprofit organizations raise and find money that it is much more difficult to create new donors than it is to take care of and nurture existing ones. Not that there isn’t a fair amount of attrition just as we can expect in our businesses, but we cannot ignore those “fish” that we have already “landed” and put all our energy into attracting shiny new ones. After all, our small businesses wouldn’t be where they are without our oldest and most loyal customers and clients.
Paying attention to current customers and clients through good customer service, checking in periodically, including them in any mailings or marketing outreach you do, sending notes, emails and phone calls and other methods can pay off in terms of overall customer retention. It may seem as if you are spending a great deal of time with existing customers, but in the long run it will save your business time and money. AND, these existing customers are already contributing to the revenue or income of your business. This doesn’t mean that you should neglect the prospecting and cultivation of new customers and clients–but remember that the existing ones are the bread and butter of your home business–they can also provide testimonials and referrals that will help you to attract those new customers!
Also: Send Articles as a Way of Touching Base