At this time of year we can all be guilty of being too busy running here there and everywhere and perhaps taking people, including customers and clients, for granted. Or on the other hand, December can be a time where we take stock, think about how things have gone and think how lucky we are. Gratitude, especially when it comes to business, can sometimes be lacking.
A big mistake business owners, of both large or small businesses, can make is to take new business and existing customers for granted. I very much try not to do this and always send a Christmas card saying thanks or emails of appreciation and shout outs on social media messages. When I also win a new client, I always say thank you for the new opportunity. This isn’t a costly exercise and doesn’t take long to do, but be mindful and make someone’s day by saying a quick thanks or give a thumbs up.
So apart from basic manners, why is gratitude and saying thanks and acknowledging where someone has helped you or given you an opportunity so important? Research says it is 6 times more expensive to get a new client than an existing one. (Source – marketing metrics). Therefore, this is why it is so important to look after and continue/start to engage with existing customers. Why? Nurturing your relationships with clients and key contacts will reap benefits for you and your business for both financial purposes as well as longevity of the client and the project or buying cycle. Another stats from marketing metrics says the probability of selling to an existing customer is 60 –
70% and the probability of selling to a new customer is 5 – 20%. So the moral of the story or of the blog is to look after customers, not take them for granted, don’t rest on your laurels and look after them. Client care is key.
Read our previous marketing article called is upselling a missed opportunity. Read it on Linkedin here