Question #2 – How should I market to my existing customers?
As we established in Part I of this blog series, spending time focusing on your existing customers is time well-spent. In case I did not convince you, consider this: Guerrilla Marketing suggests that you spend 60% of your time marketing to existing customers.
There are any number of marketing strategies that can be employed to reach out to your existing customers from direct mail, social media, email campaigns, special offers and discounts, new product/service announcements, educational workshops, birthday cards, surveys, schedule next appointment, touch base ‘just because’, etc.
In my mind, the most important piece of this puzzle is having a marketing plan and executing that plan. As a business coach, I have seen how this can be a big hurdle for many business owners and entrepreneurs. I have found that people fall into one of three camps:
- People that hate to spend time planning and, therefore, never give themselves an opportunity to execute a plan.
- People who love to plan but are not disciplined enough to execute their plan.
- People who do both the planning and the execution of the plan (this is a small minority).
When it comes to maintaining and expanding upon your relationships with existing customers, recognize which camp you fall in and seek counsel and advice from a business coach, mentor or accountability partner to compensate any deficiencies.
Don’t neglect your business’ most valuable asset: YOUR EXISTING CUSTOMERS.