Fast Business Growth: The First Step

referral marketing, marketing, customer serviceMonday is for Marketing

Has growth stalled in your business? Have you hit a plateau? Do you need some fast business growth? Here's the first step: Design and implement an aggressive strategy to market to your current and past customers! Yes, that's right. Your first marketing priority should be to market to your current and past customers. Why? Because these are the people who have already chosen to do business with you and they are the ones who are most likely to do business with you in the future! This group represents your greatest opportunity for growth, and particularly fast growth! As I've seen my clients catch this and start marketing to their customers they have experienced a return of 5% to 25% growth quickly! Plus, the investment to acquire this business is usually much lower. It typically costs 6-8 times more to attract a new customer than it does to keep an existing customer. Look for ways to increase customer loyalty. Identify new needs that you can meet for them. Find additional ways to add value and then let them know that you want to serve them more! Sometimes it is as simple as a phone call. Refresh or re-engage some of those relationships. Consider a new promotion to your customer base or a "VIP" promotion to select customers. Consider implementing an emarketing approach using one of the many tools available today (e.g. Constant Contact, Aweber, Mail Chimp, etc.) Launch a Social Media Marketing strategy just for your customers. Create a new Customer Appreciation Program to let them know how much you appreciate the opportunity to serve them. There are dozens of ways to market to your customers. They represent one of the most valuable assets in your business today. Don't neglect them. Look for ways to improve or enhance customer service. Educate your customers on what you are doing to serve them better. Remember, marketing is education, so find new ways to educate your customers! Once you acquire a customer the hardest part is accomplished. Protect and nurture those relationships! They are the key to your future business growth!

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2 Responses to “Fast Business Growth: The First Step”

  1. Mike Dobert says:

    Great marketing ideas with a focus on the importance of building relationships with customers.

    Thanks Glenn! Mike