Monday, July 18, 2005

"A Very Cheap Way to Insure Future Profits"

As you probably already know, marketing extends from trying to attract new customers to your business, to keeping good relations with the old ones. In fact, most people realize that it costs far less to get an existing customer to spend more money with you than it does to acquire a new one. Yet even though most people realize this, they are constantly spending more and more marketing dollars on attracting new customers, while they neglect the old. Don't neglect your current customers.

Customers who have purchased something from you in the past, can be your most guaranteed source of future income.

They already know you do good work and you've already established credibility. Here are some ideas to help keep your business name in the mind of your current customers.

• Send them a thank you note with a special discount for their next purchase.
• Send Christmas cards.
• Send Birthday cards.
• Keep a mailing list and send out a newsletter every so often letting them know of your company's new products or updates.
• Send out copies of newspaper articles or other PR you were recognized for.

Of course, you must brand these things with your company's logo so that brand recognition is burned into your customer's head, but try to hand - sign the letters, add personal touches with post scripts, etc.

It will cost far less in postage to send out a few things to your existing clients than it will in advertising dollars to acquire new ones. As long as you never let them go, you will slowly build and build your business one customer at a time, until eventually it snowballs your profits.


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