Principle Number 7: Work your Customer List

The most valuable asset you have in your business is your existing database of customers… the people who have purchased from you in the past.

The acquisition cost of a new customer is astounding for some companies. On average, it costs 600% more to sell to a new customer than reselling to an existing one.

If you are not constantly in contact with your customers (at the bare minimum once every three months) then you’re costing yourself money.

You should approach your customers with regular offers. Here are some examples of when to contact them:

Special price discounts

When you have up and coming promotions

To endorse another businesses products

Attain feedback on your business.

When you have any new products and services

To say hello

Ask for referrals.

The list is endless. Keep in close contact with your existing customers. After all, if they purchased from you the first time, they should trust you. Your existing customers are your shortest route to increasing your sales. They are the most likely to give your more business.
 

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Tags: build your database, customer database, customer list, database of customers, email list, existing database of clients, Referrals, word of mouth advertising, word of mouth marketing