Over the years I have had the pleasure of coaching and teaching many businesses throughout Calgary and Western Canada how to get the best results possible. What some of you don’t know is that my clients also teach me every day. I have learned that you should:
- Do Business as Often as Possible with Your Customers
Although this sounds like a given, it is frequently forgotten. I have met dozens of business owners who want to grow sales, yet never invite past customers back or track the frequency of the business they have done with their past customers. Save time and money by tapping into the network you have already established.
- Build a Database of Your Customers
A database of active customers is a business’s greatest asset. With this type of database, you know which customers to thank and you have the opportunity to invite them back. You will also notice if they stop buying and you can survey them to help expand products and services. It is 6 to 10 times more expensive to acquire a new client than to keep an existing customer happy. With a database, you can determine the best way to keep these customers happy. A database of inactive customers is the best place to check first when looking to grow or expand your business, especially in retail.
- Make Every Client Interaction Count
Your clients’ experience includes their first point of contact with your business; whether it is by a website, email or phone call. This all accounts towards your presentation of who you are and why you are talking to them. Their first transaction; the opening of the package; their experience with the product; and the post-purchase follow up all account towards a quality customer experience.
- Know Your Numbers
Determine the important numbers that revolve around your clients. For example:
- Average dollar sales
- The amount your clients spend per cycle (day, week, month or even year)
- How your clients buy (online, in-store etc)
- The profit margin of each transaction
- Conversion rates
- The number of sales calls you need to make to get one sale.
- How many clients walk into your business before someone buys from you.
Track these numbers daily. If you want to improve these numbers, share them with your team and determine how you can work together to improve.
Your clientele is the lifeline to your business and the best opportunity to gain valuable knowledge about your business. Want to find out how you can learn more from your customers?
Contact Nine Business Group Today.