Critical Customer Facts
Customer Fact 1
An average company loses 50% of its customers every 5 years. The other fact that goes with that one is that the cost of replacing them can typically be 6-7 times more expensive! And what this really means is that you get a whopping 600% to 700% bigger bang for your buck by investing in retaining and marketing to your existing customers than to acquiring new customers.
Question – How much are you investing right now in keeping your current customers in proportion to how much you are investing in acquiring new customers?
Customer Fact 2
For every month that you don’t contact or communicate with your client, you lose 10% of your influence with that client. That means that you have to communicate with your clients every month, no matter what.
Question – How much are you willing to invest to NOT lose 10% of your influence with your clients every month?
Customer Fact 3
82% of all homeowners can’t tell you the name of their real estate agent if they bought their home more than two years ago. Imagine the sales that are lost! That’s because they never maintained a personal relationship with their clients. And I’m sure you’ll agree that this applies to many businesses, not just real estate.
So… What strategies do you have in place to ensure that you maintain a PERSONAL relationship with your clients? (normal marketing just doesn’t cut it here!)
Here’s a great story, told by the equally great Zig Ziglar. It’s the story of Joe Girard, who I reckon has to be one of the greatest salespeople of all time. He sold cars. And boy, did he sell cars! In fact, he holds all global records for selling cars.
This is what he achieved:
1963 267 cars/ trucks
1964 307 cars/trucks
1965 343 cars/trucks
1966 614 cars
1967 667 cars
1968 708 cars
1969 764 cars
1970 843 cars
1971 980 cars
1972 1,208 cars
1973 1,425 cars
1974 1,376 cars
1975 1,360 cars
1976 Over 1,200 cars
1977 Over 1,200 cars
That’s well over an automobile a day for over a decade! In fact, for many years, he sold FIVE CARS EVERY SINGLE DAY! There were no fleet sales in these achievements – they were all individual sales. And there were no “giveaways” -– they were all genuine sales.
The magnitude of this feat defies description. Joe was the number one automobile salesperson in America every year from 1967 to 1977.
What was his secret? Well, there are many reasons for his success, but here is one that you may wish to ponder.
Every month Joe sent a greeting card in the mail to EVERY ONE of his customers. His customers could not help considering him as part of the family.
This leads to the question: Do your clients think of you like a close friend or family member?
Customer Fact 4
Just saying thank you to your clients, even with only a phone call to do nothing more than say “thank you,” will increase your business by 17%.
Just do some mental arithmetic…. what’s 17% of your current profit?
Now ask yourself whether or not it is worth saying thank you?
The important thing here is that in this kind of contact, you should never “sell.”
It is not about selling. It is about the relationship.
So… some more questions –
How often do you say “thanks?”
How often should you say “thanks?”
Customer Fact 5
An oldie but a goodie… A 5% increase in customer loyalty will yield 20%-80% to your bottom line profit
There’s lots of research behind this one!
One final question –
What could you do with a 20% – 80% increase in your bottom-line profit?
Hope you have enjoyed reading this, do share your thought and queries relating to this. You can also share your challenges relating to your life and business with us and we would like to provide the appropriate solution.Dr. Dhirendra Gautam, a business doctor and leadership Coach; he empowers people to transform their Life, finance and business and introduce then to the world of financial freedom and fulfillment. For business owners & Cxo’s we offer specialized Business coaching Program Namely; Empower your Business (EYB), Empower your Life (EYL) and Empower your Carrier (EYC). Do visit our website www.dhirendragautam.com to find his wisdom he shares with mankind.