Look after existing customers first - Smart On Hold Options Australia

Every business would like to increase their sales. What if you could do it with minimal spending? That would be the perfect match right!? Well the easiest way to do this is going to be to sell to your existing customers. Why bother trying and wasting time getting new leads if your current customers are not staying with you and are not satisfied? You are just going to be chasing new sales every day.

What we need to remember is that it costs 6-7 times more to get a new customer to your business than it does to keep an existing one who has already purchased from you or who is using your service right now.

So what do you need to do? First you need to put your concentration and efforts into your current customers, as the probability you have of selling to an existing customer is 60-70% in comparison to a new customer where the probability is as low as 5-10% only!(Marketing Metrics)

So we know that it’s less expensive to retain a current customer than to go and find a new one. We also now know that those existing customers are considerably more likely to purchase from you in comparison to a new customer. Both of these facts cement the need to keep your current customers happy and to promote/sell to them first before going outside of your current customer list.

So there are two ways in which you need to look at existing customers over new customers;

The first being customer retention:

A 2% increase in customer retention is the same as a 10% decrease in your costs (Leading on the Edge of Chaos, Emmet Murphy & Mark Murphy)! Wouldn’t every business owner like to reduce their costs by this amount? I know that this is my director’s dream. So we always promote our customer service as one of our key selling points, as we want to ensure that customers who buy from our business stay with our business.

The second being customer service:

If we know how valuable a current customer is, why do we still experience bad customer service from many businesses? With the level of customer loyalty in this day and age, being at an all-time low, we need to ensure that our service is first class. Price is no longer the deciding factor anymore, if a customer experiences poor service then this is what is going to make them unhappy and maybe leave.

So what we need to remember is the cost is dramatically reduced when we market and sell to existing customers, that we are taking care of. So if you have a new product or service you should aim to sell or promote it to all of your existing customers prior to taking it out to new customers, who you have no relationship with.

The quickest, cheapest and most effective way that you can let your clients and existing customers know about a new or add on product that would suit their needs is On Hold. If you already have your customers calling you, whether its for spare parts, customer enquiries or other questions why now promote your products to them whilst they are On Hold?

Messages On Hold are a perfect place to implement customer service too – answering any frequently asked questions On Hold, sometimes answers your clients questions, meaning that you don’t even need to speak to them as they were answered whilst holding.

If you want to promote to your existing customers as well as providing customer service in one, cost effective marketing channel then you should get Smart On Hold Options – it’s the easiest and quickest way to improve you customer service and increase enquiries by up to 40%.