Business Talk Column—Part III
This
submission will conclude our 3-part series on customer acquisition on
the cheap. We have looked at ways 1-7 in the two past Quad State
Business Journal submissions and now we look at the final three. Our
editors will be putting together an expanded report that will be free
to QSBJ readers later this year.
8. Build relationships
We
can hear you, “Yeah, sure. Build relationships because it's a lot
harder and more expensive to gain a new customer than it is to keep
them happy. Tell me something I don't know.”
But
it is true. So many of us in business, especially when things are
going swimmingly, hear speakers pipe similar things into our head,
but living them out is a different story. And something that is not
part of our business day—by habit—just is not done.
A
Customer Enrichment Campaign Needed?
A
few years ago, a Washington County friend who taught in the New York
University and DeVry University MBA programs and I took on a
Baltimore client. We successfully worked with that client for three
full years, but one of the hardest things to get the large family
business to come to grips with was customer enrichment—as Richard
and I called customer relations.
The
push back for our client came from 'older' family members. “I want
our customers to enrich us...” I very clearly hear the president
saying. But they all eventually got on board to begin to treat their
customers as they did their own employees (which were treated very
well).
Now
customer enrichment/relationship doesn't have to be expensive or even
cost anything to implement. Our client, because they did a lot of
business with the universities and hospitals around the Baltimore
region, found that little get-togethers over nice food really built
up great rapport. But you don't have to go there.
A
simple FaceBook Fan Page of customer testimonials as to creative ways
customers were using your company's products or services might build
some wonderful ongoing relationships.
An
e-mail campaign through your autoresponder can be very inexpensive
yet take on a great value-add to your company's value in the eyes of
customers, patients, members, students or whatever you call
customers.
This
value-add e-mail campaign can take several formats. It could be an
ongoing how-to list focused on your customers. It could be an
automated teaching series on how to creatively use the various
components of your business. Autoresponders are wonderful inventions
that can run in the background but have continuous and regular
contact with your customer base.
9. Offer True-Value Coupons
No
I don't mean the hardware store version of coupons, but get coupons
that offer the customer real value from certain aspects of your
product or service offering. Offer real discounts and even free
services in your coupon—as much as you think it hurts. Carpet
cleaning firms do this well in their 'Three rooms for the price of
one' and other offers.
Research
has proven beyond the shadow of doubt that people will go out of
their way to either redeem coupons or keep them around 'for later.'
Whatever customers do with coupons, you have a constant brand-builder
and advertisement consistency. Depending on your strategy, coupons
can build an end-to-end campaign for repeat customers—while
expanding your customer base.
Several
coupon pros have very good and inexpensive offers over on the
Business Solutions Network that you can check out at
(http://thebusinesssolutionnetwork.com/flyer-vendors.html).
Even adding a QR code is a very good addition. If you are not
familiar with what QR codes can do, look into them. Also, check out
the coming Local Lead Circles™
with the Customer Acquisition Forum of Experts (CAFE) that focus on
intra-market marketing for owners.
10. Better Than a Discount: Give it away!
Is
there some way you can allow your potential customers to experience
your product or service 'wonderfulness' before they take out their
wallet?
Many
potential customers in certain industries are wary of 'free stuff'
that might be offered with a 'what's the catch' attitude. Yet in
developing a strategic offering platform or the 'because' of why you
are allowing a certain product or products at a deep discount or even
free, you get to the other side of their distrust.
Some
initial customers of the Quad State's Business Solution Network
(www.TheBusinessSolutionNetwork.com)
and the terrific business services smorgasbord offered have found
that a deep discount of the freelancer's services can lead to a long
term relatonship.
Go
back over the list in this article series. Print the three
installments out. Make notes as to your time investment and any
needed tools or services you need to launch. Try to launch your 2014
customer service/customer enrichment or customer relations campaign
for less than $100. And then keep careful tabs as to your ROI on that
$100. Let us know what you come up with!
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