Tips for a Better Business – from Balance Accountants

4. Market yourself to your existing customers

Research has shown that : 

  1. It is 10x more expensive (in terms of time and money) to gain a new customer than it is to sell more to an existing customers.
  2. One of the reasons why customers leave is because of perceived indifference—they just think that you don’t care about them.

However, the majority of businesses in the UK focus their marketing efforts upon gaining new customers.  What about looking after your existing customers as well????????

Any marketing plan should focus equally as much upon existing customers as it does upon gaining new ones:

  • Call your customers on a regular basis:
  • make sure that they are happy with your services:
  • ask if there is anything else that you can do for them:
  • send them newsletters, press cuttings and other articles that are relevant to your industry/market.

You just need to keep in touch with them but you also need to systemise the process so that it is done on a regular basis, not just every now and then.

If you can retain your existing customers and increase the amount that you sell to them then your business will grow without the need to spend large amounts on expensive and difficult to monitor general marketing to the public.

Balance Accountants specialise in helping business owners to have better, more profitable and more enjoyable businesses. If your business is not performing as well as you want it to then you should contact us now.

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