Recycling is a huge part of our culture now. We recycle paper, plastics, metals, electronic equipment, the list goes on. Recycling can be very very beneficial for a business. The best thing a company can recycle is their customers.
Let me explain. As a business owner you know that it takes a lot of work to get a customer to do business with you. With almost any product or service available at the click of a mouse it’s a battle to get them in the door (or virtual door) let alone get them to come back.
So where do our customers go?
- Approximately 1% of your customers will not return or refer others because they will die. Well you can’t stop that one!
- Roughly 3% of your customers will move away and unless your a national chain you will lose that business also.
- About 5% develop other friendships. You may be the best realtor in town but if your customer marries another realtor your luck has run out.
- Approximately 14% of your customers will leave because they are dissatisfied with the product.
- Around 68% of your customers don’t come back because they perceive an attitude of indifference from you, they don’t feel appreciated. It’s the silent killer of your business. This is the single biggest reason why customers don’t come back. Often you don’t even know it’s happened.
So there you have it. About 3/4 of your customers leave you because you have failed to show them that you appreciate their business.
Here’s the big question, and yes you already know the answer. Is it less expensive and frustrating to try to get new customers to buy from you? or to simply recycle the ones you have and get them to come back?
Take a minute to send a card, give a gift or just tell them to their faces that you appreciate them doing business with you. That simple thing will keep them coming back for a very long time.
About The Author:
|Mike Liddicoat is a Husband, Father, Speaker and the Sales & Marketing Director of AttaBoy! Solutions. His goal is to help businesses maintain relationships, ensure future business and acquire new referrals through appreciation marketing. Throughout this blog you can sign up for updates, news, special offers, discounts and more. So take a look around, leave a comment or two and enjoy.|