Why Existing Clients Matter Too
Don’t let the title fool you; no one’s suggesting you should stop trying to get new customers. Gaining new clients is obviously one of your business goals. With new clients come new possibilities, but this doesn’t mean old clients can be taken for granted. The majority of companies are merely focused on increasing the number of new clients. By doing this, existing clients are often neglected; here’s an example: think of all the ads that promise a lot of benefits, but then add the phrase “only for new clients” to the advertisement. It’s quite understandable that companies try to lure people by promoting special offers and deals; they have to be able to offer something different than what they usually offer in order to differentiate from their competitors; however, as a business, you need to recognize the value of existing clients. Below is a list of reasons why existing clients also deserve your attention:
– Customer relationship is already established: This is one of the biggest benefits that come with having existing clients. These clients have chosen your products or services in the past, which allowed you to build a quality customer relationship with them. They obviously support your brand and you can show some appreciation for this. You don’t have to go through the whole process of courting them, which is a major time-saver.
– Lower advertising costs: When you’re promoting special offers to potential new clients, you spend a lot of money on advertising. You have to know what kind of ads you need, where to place these ads and what they should look like. Reaching existing clients is less complicated; a simple newsletter can keep them up-to-date on new products.
– Word-of-mouth marketing: If you appreciate existing clients and treat them accordingly, these clients are likely to spread the word to the people in their personal and professional networks (on- and offline). This is why you should aim for customer satisfaction at all times, regardless of what type of customer they are. And who knows, after actively building customer relationships, they might turn into brand advocates!
– Repeat purchase behavior: Another advantage of satisfying your customers is the fact that they will not hesitate to do business with you in the future. They trust you, they know you’ll deliver high-quality products and services, and are therefore comfortable working with your company again; In other words: you have achieved brand loyalty.
As you can tell, investing in your customers shouldn’t be low on your priority list. There are a few ways to do so, and next to providing valuable products, the most important way is customer care. You can also refer to it as customer service. Here, the appreciation factor plays a very important role. If you play your cards right, you can have a seriously competitive advantage, due the fact that there are still many companies that don’t offer decent customer care. You can also offer existing clients special deals.
In summary, it’s just harder to engage new clients than it is to engage existing clients. On top of this, it’s also more expensive. No one’s saying you shouldn’t try to get new clients, but don’t forget about the existing ones. A combination of getting new clients and turning them into loyal clients is the perfect solution. Cost-wise, investing in existing clients is an effective way to increase sales.
How are you doing in the customer service area? Do you pay attention to your existing clients? If you have anything to add, please feel free to leave a comment.
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