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Old 15th June 2010, 09:14 PM   #1
AngelBiz
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Default How Can You Hold On To Existing Customers

Most businesses lose large percent of their customers on a regular basis. Losing a customer can cost you lot more than you realize. Research shows that it costs multiple times over to get new customers than to hold onto existing ones. Our advice to all business owners is this DO WHATEVER YOU HAVE TO DO TO HOLD ON TO YOUR EXISTING CUSTOMERS.

Here are the steps that show how you can accomplish this:

Read more - http://www.angelbusinessadvisors.com...ing-customers/

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Old 16th June 2010, 11:00 AM   #2
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Yes, hold on to your customers. If you lose one, it takes you about 5 new ones to replace the sales the lost one did. It is a lot of work.

Also consider the old rule, 20% of your customers provide you with 80% of your sales - the 80/20 Rule. Which means you can afford to lose a customer who provides you with a minimum of sales as compared to the ones who are more loyal.

Prof. Moore

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Old 16th June 2010, 11:14 AM   #3
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Thank you for that! I never knew about the 80/20 rule! I guess you learn something new every day!

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Old 17th June 2010, 07:35 AM   #4
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I think we realize how important to keep the customers and we are ready to do everything about it. So thanks for the tips.

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Old 17th June 2010, 08:22 AM   #5
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This is a great post with some great tips in it. Thanks for sharing.

One of the most important things I teach to my new biz coaching clients is stay in touch with your current customers and any potential clients that have expressed some interest but haven't worked with you yet.

Setting up a simple system to do so will pay huge dividends in the long run. Whether it's just taking ten minutes a day to write out a couple of hand-written thank you notes, or a highly evolved and complex system that you set up for a VA to handle for you...it's well worth the effort.

You know how you've gotten a birthday card from your insurance agent or chiropractor or Realtor? Same kind of thing. And not only does it make the recipient feel special, it keeps you top of mind.

I get a postcard once a month from my mortgage broker. We bought our house over three years ago, but every month we get a postcard from her. It just keeps her at the forefront of our mind if we're ever looking to re-finance or anyone we know is looking for a mortgage broker. What would be even more effective for her would be to call and check in once or twice a year just to chat and see how things are going. That would build even more of the "know, like and trust" factor.


Make it a Great Day!!
Let me know if I can be of help.
Thanks!
Theresa

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Old 17th June 2010, 07:15 PM   #6
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Quote:
Originally Posted by ABetterYouCoach View Post
This is a great post with some great tips in it. Thanks for sharing.

I get a postcard once a month from my mortgage broker. We bought our house over three years ago, but every month we get a postcard from her. It just keeps her at the forefront of our mind if we're ever looking to re-finance or anyone we know is looking for a mortgage broker. What would be even more effective for her would be to call and check in once or twice a year just to chat and see how things are going. That would build even more of the "know, like and trust" factor.
It's amazing how the subconscious mind works. I also get a card along with calendar from couple of real estate agents. When the time comes to either buy or sell house I am sure I will at least contact him even if I don't end up hiring him.

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Old 29th June 2010, 04:19 PM   #7
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We have a simple formula. Overdeliver. Works really well!

Good luck! Hope this helps!

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Old 29th June 2010, 04:21 PM   #8
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We have a simple formula. Overdeliver. Works really well!

Good luck! Hope this helps!
That works quite well. "Under promise and Over deliver" is used by companies large and small all the time.

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Old 29th June 2010, 04:29 PM   #9
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Why is it used? Because it WORKS! People are searching all over for the latest stupid trick! When we optimize pages, just put the words 'tips' and/or 'tricks' in the title, and searches go nuts! People will spend hard earned cash... just to find out the real answer.. but it's in front of them.

Pssst... enter your c/c number here, ok? ! Just kidding! Good luck!

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Old 30th June 2010, 09:23 PM   #10
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Quote:
Originally Posted by AngelBiz View Post
That works quite well. "Under promise and Over deliver" is used by companies large and small all the time.
It's pretty much all about maintaining relationships, and the keys to maintaining relationships have been commonly known since time immemorial...

  • Never make promises you can't keep
  • Keep your promises and commitments
  • Follow the golden rule
  • Respect begets respect
  • Relationships require regular maintenance and mending


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