Maria Vega: Are your customers your "Raving Fans"?

Most business people know that getting a new customer is much more expensive than selling to an existing customer, so by continuing to sell to them, we are really saving ourselves money. Most clients I meet are not leveraging their existing customer database, and by not doing so, are losing out on a cost effective source of potential new business. Many receive referrals - for which they are grateful - but it's not because they actively sought the referral, or had a strategy in place to ask for it.

Reward them for being Loyal
Loyalty Marketing Programs are designed to create loyalty and increase sales from your best customers. When properly designed and consistently implemented, loyalty programs provide a vital link between your business and your customers, Improving Customer Satisfaction and Increasing Sales. Here are some commonly used ideas for creating your own Loyalty Program:
* preferable rates for loyal customers
* provide bonus product or service if they have bought before
* programs that promote multiple purchases (buy 3 and get the 4th free)
* Points program - each purchase is worth points. When they earn a certain number of
points they get a reward of some kind

Ask for Feedback
If you don't know what your customer thinks about you, your business, your product and your services, then you might as well close shop.
People will endorse your business not because they think it looks good, but because they know it is good. If they have problems with your services, customers are the best source of objective advice on how to make improvements. So have a process in place where you regularly ask them for feedback. And once they've given it to you, let them know how you are going to use it. They will begin to feel involved in your business, and are more likely to send other people your way.

Thank them for referrals - every time
Finding a way to thank your customers for referrals lets them know that you value them for their efforts. It makes them feel recognized, and it reinforces the behavior so they consider referring to you again. A thank you can be as simple as a hand written card, sent through the mail, to a set of movie tickets, a voucher, or even just a phone call.

There are so many ways that we can go one step further with the people who already buy from us. Make this a focus of your marketing efforts and you will soon see the rewards come back in the form of increased referrals and increased sales.