Sales and Marketing effort should not stop once an order has been placed. Depending on which article you read, it costs five to FIFTY times more to generate a new customer than to get further sales or referrals from the customers you already have.
To retain customers, your sales people need to extend their relationships out from the immediate buying team into the wider company. This account management (which is what we are talking about) should permeate throughout your customers’ organisation.
One way to nurture your customers is by providing them with information that is relevant to them in the post-order phase.
This could include:
- Product Upgrades
- Maintenance Recommendations
- ‘Customer Only’ Events or Promotions
- Customer-Focused Newsletter
- and so on…
For strategically important customers, account management should also extend throughout your organisation. Direct contact with the customer should not only be via the account manager. There should be peer-to-peer connections at all levels from Directors downwards.
The ultimate aim is to turn your sales and marketing funnel into a semi-closed loop system. Don’t let those hard-won customers disappear down the drain. Nurture them so that they re-enter your pipeline
Contact us to find out more about reducing your sales costs by recycling your customers back into your sales and marketing funnel.