When we first start our business, is very usual to think that the more customers we have the more revenue our business will get, and that in fact is true, but the thing is, for a business owner, to double the clients usually means to double the pain.

 

By now you must be thinking, “But how am I supposed to have the business proficiency I want if I don’t make extra  efforts?” And you’re right, running a business means to be constantly running the extra mile, but let me tell you, there is a way you can do this,  and to be honest, no one likes to work 24/7 without being rewarded with the proper income, and even if you did, in the end, the day only has 24 hrs, and whether we like it or not, some of those 24 hours need to be destined to rest, for the benefit of our own mental and physical health.

 

But before we go any further, allow us to ask you a question:

 

What is more important for you as a business owner, to earn new customers or to keep the ones you have?

 

Now, any option you decide to choose is great, but business wise, there is one that will make yours get more revenues and be more profitable. Can you tell which one is it?

 

Let’s take a close look to each one of them separately:

 

 

Earning New Customers

No business gets hurt by adding new customers to their base, but the fact is that if you want your business to grow its revenue, this might not be the most accurate option to do it. Why? Here are the reasons:

It is expensive:

 

Customers don’t convince themselves to buy your product or service just because; they need someone to tell them how great it is 24/7, and to do this you need a good marketing strategy, but to do that you would probably need to hire an expert and a whole bunch of people to work for you to persuade your customers.

 

It takes a lot of time:

 

As a business owner you might know by now that new customers need time to reflect if they want to hire your services or if they actually need your product. The consequence of this is that the sale takes time to make, and in that time lapse you’re not getting any new income, and that could seriously affect your business.

 

It takes a lot of effort:

 

Running a business is not an easy task. Depending the size of it and the type, you spend your days solving problems, giving customer service, training and supervising your employees, attending meetings with your existing clients and what not. If with your existing customer base you almost have no time for yourself, imagine what would be if you grew it. Plus, gaining new clients means that you have to stop whatever you’re doing on a daily basis in your business to focus exclusively on converting possible clients into new clients.

 

Fortunately for everyone, there is a better way to have the income you want for your business, without having to make additional efforts:

 

Marketing Your Existing Customer Base

Now let’s take a look of how marketing your customer base competes:

 

Gained Trust

Your existing customers already trust your business. They are your customers for some reason, and that is (it’s OK if you auto-pad your shoulder) they like your business! They like your service, they like your products and they like you as a provider so, why not to take advantage of this?

 

They Are More Reachable

Your existing customers already gave you permission to contact them, so you’re free to reach them to offer new services any time you have something new going on in your company.

 

They Can Recommend You

If your customers are with you, is because they’re happy with the service you provide them, if it were the other way around, be sure they’d be gone a long time ago. Your existing customers have the great power to suggest your business to others and by that you not only gain more customers, you also gain the earnings you want.

 

It Doesn’t Cost You Money, Time Or Effort

Marketing your existing customers is cost effective, it saves you a lot of time and a lot of effort. You don’t have to waste valuable resources to reach your business goals, you just need to choose wisely, and marketing your existing customers is in fact, the best option you can choose.

 

To make it simpler, making business is just like making friends. You go out, spot a person that you think has the qualities you’re looking for in a friend, and then keep on nourishing the relationship, right? Then you meet some of your friend’s friends and they become your friends too, and that’s how your social circle grows.

 

The same thing happens with business, so, instead of looking for new friends and forget about them as soon as you think they’re in the bag, try and grow that relationship, that way, they will always have you in mind and you get rid of the risk of them turning their backs on you.

 

 

How To Market Your Customer Base: The Step By Step Guide

 

Now that you know that marketing your customer base is a better option to increment your business income, you need to know how to do it.

This easy step by step guide will guide you through the process.

 

1. Define Who Your Best Customers Are  

Sometimes we think that customer proficiency depends only in how much the customer buys from your business in regards to the zeros you add to their invoices. But not all big buying customers are the best customers. Good customers have the following qualities:

 

• They’re always on time with their payments.

• They make fewer orders of larger amounts.

• They require less customer support or service.

• They don’t cancel services or change orders.

 

2. Track And Measure Marketing Campaigns Through Customer Relationship Management Systems 

CRM software systems are a really good option to help you focus sales on the right direction and to the right customers. These softwares are available in a large range of prices, so it basically depends on your business needs and how much you want to spend. They allow you to collect data like:

 

• Name.

• Contact details like address, email, phone number, etc.

• Transaction and communication history.

• Payment history.

• Age, gender, interests, business, etc.

 

3. Make A Good Marketing Plan  

A good marketing plan doesn’t have to be that expensive that it lets your pockets empty. In fact, to make a good marketing plan you only need to improve some of the services you already have.

Here are some great strategies that won’t cost you much but will increase your sales.

 

Provide Excellent Customer Service

Make yourself available to provide help with inquiries your customers make. An excellent option to do this is is through online forums on your business website or through online forms that customers can fill up with questions or comments. Just remember, replying to good comments or answers is as important as replying complaints, in either case, just remember to always be helpful. Customers want to be listened.

 

Create A Guest Blogging Strategy

Guest blogging is one of the best ways to make yourself a name and become a recognized brand with authority on your primary subject.

By creating compelling articles about topics that you know your customers are going to be interested in, you not only inform them about hot topics but you also promote your business in a non advertising kind of way, so instead of saying “We offer the best service in town!” and expect them to believe you with no direct proof about it, you’re giving them valuable information and by this earning their trust.

 

Implement A Loyalty Program

Old customers have more value than you think, and it’s not only because they require your services month after month. Loyal customers trust your company to provide them with good service and/or products and they are actually convinced that you are the best option in town.

A loyalty program is a must have marketing strategy for your business. Depending on your business you can opt to give your loyal customers a loyalty card, points card, a reward card or you can just make them any kind of discount on their next purchase or any offer they can benefit from. This will make your customers feel appreciated, it will encourage their buying and also it will encourage them to recommend your business to others.

 

Design A Mailing Campaign

An email marketing campaign reaches your customer base specifically to encourage them to take action on purchasing whatever you’re offering (and this is where your CRM software system comes in)

With the data stored in your CRM you can communicate directly with the customer and also allows you to segment your community depending on their interests; that way you can reach your customers and provide them specific content and offers of their interest.

 

 

Craft A Referral Program

Referral programs can take time to implement, but they can consistently increase your sales and make your business more profitable. The idea behind them is to earn new customers through base customers’ recommendation.

If you implement a referral program make sure you do it the right way:

 

Pay Close Attention To Timing

Asking a customer for a referral in the wrong timing can be risky. Don’t ask for a referral of your business when they just made their first buy, this will make them feel uncomfortable and cause the contrary effect. Wait a while, six months or even a whole year before asking for a referral is the best you can do.

 

Give Something In Return

In a referral program, this is no option, is a must. When asking a customer for a referral is as if you were asking to make a sale for you, so the least you can do is reward them in some way for their efforts. Discount cards or cash are a good option.

 

Thank

Don’t forget to thank your customer for the referral. A “thank you” email is a good option to nurture the relationship with your customer, let them know that their efforts are appreciated and keep the door open to another referral.

 

Opt For Online Marketing Instead Of Traditional Marketing

Traditional Marketing still pays off, but the problem with it is that is very expensive and also very limited, as your ads will only be seen in a particular street, in case you want a billboard, in a particular city, or in a specific channel, if you’re thinking radio or TV, in a particular country.

The idea of marketing your business is to become visible for everyone. With traditional marketing you only reach a limited sphere, and that equals to limited income too. So why reach a few when you can reach the entire world!?

 

Follow Up

A quick call or email asking your customers if everything went well with the service or product you provided could make the difference.

If everything went well your client will get the idea that you care about their satisfaction and they will feel recognized as a valuable client.

In case something went wrong and they’re not happy with your service for any reason, that call to ask them will make them feel valuable as well. Angry customers want to be heard, and a follow up call will do the job. At the end, they will feel good that they could communicate their complaints and you have a chance to solve the issue and not lose a customer.

 

As you can see, your our own customers can help you grow your business with a minimum effort from your side. Marketing your customer base can get your business where you want it to be in terms of proficiency.

 

Follow these steps, use these techniques and enjoy the benefits.

 

And as CEO Richard S. Braddock said:

 

“The trick… isn’t to acquire new customers, it’s to make them loyal”