I recently heard an interview with a business owner who made a comment that “if you don’t have repeat customers you don’t have a sustainable business”. While this isn’t strictly true, it does point out that any business striving to achieve truly sustainable growth should, at their core, value existing customers.
Most businesses with a desire to grow have a marketing budget that is intended to bring both existing and new customers to the door. A comparatively small proportion of most businesses’ budget goes on creating a great experience and measuring how well they are doing. The problem with that is that it is just like trying to fill a bath without a plug. No matter how fast you turn on the marketing tap, the customers will continue to drain out the bottom.
By focusing on providing a customer experience that not only encourages repeat customers but also looks after them and creates a dialog where customers feel valued, you are more likely to have raving fans who will do your marketing for you. Your repeat customers can bring in new customers thereby providing a cost-effective marketing army.
"By focusing on providing a customer experience that not only encourages repeat customers but also looks after them and creates a dialog where customers feel valued, you are more likely to have raving fans who will do your marketing for you."
A business that only goes so far as to have repeat customers who are satisfied but who are passive, often have the plug only part-way in. These customers may be relatively happy with your service, but are less likely to be loyal to your business and will jump ship when a better alternative comes by.
I recently saw a post where a blogger was in a new country and made friends with a woman on the street who recommended a coffee joint. He raved about it in one of his blogs – no doubt encouraging others to go out of their way to find the shop. It goes to show that one loyal customer can create a wave of new business.
So what can you do about it? With a real commitment to putting the customer at the centre of your business and putting the training and tools in place to track and measure your progress, you can put the plug in the bath. Some companies put their commitment to their customers on their mission statement and that’s as far as it goes. These companies often have the plug ready to go, but either haven’t got the right plug or the plug hasn’t been fitted properly.
So is it time your company starts to fill up your customer base faster by putting a plug in your bath?
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