Having worked with hundreds of self-employed business owners, I constantly see a simple mistake that literally costs business owners tens of thousands of dollars.
In our fast-paced, technology-driven world, the ability to attract customers can be more challenging and with the speed of losing customers ever increasing, we should reassess the adage that it is cheaper to keep a past or existing customer than it is to chase a new one.
Recently, I was working with a client who has built a very successful business over 14 years and was commenting about how his energy for chasing new clients and opportunities was beginning to challenge his passion and drive for new business. On asking about his past clients, he provided a very noncommittal response.
I then asked, “When was the last time that you talked to your past clients?” The blood drained from his face and he looked at the floor.
From that response, I knew the answer.
Today in business, it is very easy for us to do the deal and move onto the next one, continually spending our time chasing new business and opportunities. But it is also so easy for us to forget the deals we have done for clients where we have impressed them, but through lack of communication we have let them slip away, allowing them to be picked up by a competitor.
My challenge to you is simple. This month, create a campaign that specifically targets your past clients.
Yes, you will feel uncomfortable, but you need to do it anyway. The simple introduction of, “Hi it’s Darren here, I’ve been updating my database and noticed we haven’t talked for such a long time I thought I would give you a call to say hi.”
This simple statement will give you feedback from your client that at least lets you know how to move forward.
Please feel the fear and make the call anyway as it will be a great chance for you to begin new relationships with your past clients. Plus, I know this really works.