CoatingsPro Magazine

MAY 2015

CoatingsPro offers an in-depth look at coatings based on case studies, successful business operation, new products, industry news, and the safe and profitable use of coatings and equipment.

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28 MAY 2015 COATINGSPROMAG.COM Marketing Savvy I t 's been sa id t h at t here a re on ly t h ree ways to consis - tent ly br i ng mone y i nto a bu si ness: 1. Get new customers. 2. Get customers to make larger purchases. 3. Get them to buy more often. A ll businesses focus on the frst. Few consistently make the efort to upsell the customer (think: the famous "Do you want fries with that?" and "Would you like that supersized?"). And virtually none do anything at all to get customers to come back, time after time, and buy again. Perversely, the third, and most commonly neglected group, is usually the most proftable. W hy? Because they already have a relationship with you, and, if the prior transactions were successful, you have trust and rapport with that customer. Tink about it — who are you more willing to give more money to — the landscaper who has worked on your yard each of the past three years and given you a "wow" result, or some new, unknown guy who stuck a door hanger on the handle of your front door? So why do we not do a good job of getting customers to come back? Te main reason is that it takes planning. Imagine you have a slowdown and you need to give business a boost. W hat's the frst thing that comes to mind? If you're like most business owners, it's something such as, "I' ll run an ad in the newspaper," or "I' ll buy some radio spots." A ll you need to do is pick up the phone and call the "Account Executive" (translation: salesperson) for the chosen media, tell him or her that you want to run an ad, and voila! Tey create the ad, place it in the media, and send you a bill. If they did a really good job, the phone rang and you got some business — hopefully enough to pay for the ad. Sadly, this is the " itch and scratch " approach to marketing that most coating applicators use. By neglecting your best source of revenue (your previ- ous happy and satisfed customers), you have few options but to try and get more "new" customers. A better solution is to develop a process of continual contact and reminders of your business with past and present customers. Nurturing these customers ofers several benefts, including better margins, less cyclical sales, and the ability to plan better for seasonal variances in your business. Te process of customer retention is not difcult, but it does require some thought and planning. Tere are three things you need to determine to have a successful customer retention program: market, message, and media. And to make it successful, you have to work on them in that order. Nurturing these customers ofers several benefts, including better margins, less cyclical sales, and the ability to plan better for seasonal variances in your business. By Richard Bueckert, President of K D C Enterprises Inc. Marketing Your Business… to Customers You Already Have

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