“Increasing customer retention rates by 5% increases profits by 25% to 95%.” — Harvard Business Review
When I say “marketing,” the first thing you probably think of is the act of garnering the attention of prospects that have yet to engage your business. While this is a fair assessment — because traditionally the vast majority of marketing and advertising dollars are focused on reaching people who either do not know about your business or do not realize they need what you are offering — it does not paint the full picture.
There is another outlet for your marketing efforts with a proven yield and profit margin far outweighing that of the traditional new-client marketing methods: marketing to your current clients.
Marketing to your current clients looks a bit different than the traditional prospect marketing strategies. Prospective new clients need to learn about your business; current clients should already have an idea of what you do and why you’re different. Prospective new clients need to be sold on why they should engage you. Current clients have already trusted you enough to invest in your services (i.e., spend money with you) and therefore are more likely to spend more money with you.
So, how do you market effectively to your current clients? The simplest and most effective strategies center on making your clients’ interactions with you and your business a true experience.
BE UNEXPECTED
The advent of the Internet and more recent 21st-century technologies has leveled the playing field. From drag-anddrop websites to lightning-fast communication to real-time project management updates, nearly every single business has access to low-cost resources. The accessibility of these resources automatically removes them as a competitive advantage. Fortunately for you, the over-reliance on these convenient technologies has swung the pendulum so that traditional methods can be leveraged to make an impression, if you’re willing to make the effort.
Your goal should be to surprise and delight your clients. Think about some of your industry’s standard practices — especially if they include something that may annoy your clients — and then consider how you could do it differently. For example, if you are a therapist and most therapists’ offices offer patients six-month-old magazines and stale coffee while they wait, upgrade your lobby experience! Invest in surprisingly healthy snacks, specialty teas, citrus water and gourmet chocolates — and then hand them an iPad to pass the time. Give your clients a reason to get excited about visiting you and something to talk to their friends about. Call clients the week before their anniversary of working with you and ask if you can take them to a “clientversary” breakfast. Does a client celebrate a beloved Fido’s birthday each year? Send Fido a box of treats on his special day.
The bottom line is that anyone can send a quick email or generic update, but if you keep your ears open, you will discover opportunities to surprise and delight your clients every day.
CUSTOMER SERVICE SHOULD NOT BE A DEPARTMENT
Zappos is the go-to customer service example in the business world today, and with good reason. Simply Google “Zappos customer service examples,” and you can find an endless supply of almost unbelievable tales, from physically purchasing shoes from rival shoe stores in order to fulfill customer orders of sold-out styles to providing shoes to a shoeless best man (for free!). The Ritz Carlton is another gold standard in customer service, providing employees $2,000 per guest to solve any problems as an employee sees fit. Neither Zappos nor the Ritz see customer service as a department; they see it as a culture.
Empower your entire team to take the initiative to make your clients feel important. From everyday interactions in your office to the resolution of problems and clientspecific opportunities to go above and beyond, make it everyone’s responsibility and privilege to care for your clients. Create protocols, but trust your team to handle client needs on a case-by-case basis. Encourage your entire team to surprise and delight your clients through client service. It is through this commitment to customer service that you will not only retain clients but also encourage their repeat business and word-of-mouth referrals.
TAKE ACTION
Bring your team together and evaluate areas of your business that are standard industry practice or simply areas that you feel could be better. Brainstorm ideas for improvement. Remember to encourage new and innovative ideas. Then, decide as a team what changes you will implement and by when.