Monday, August 11th, 2008
Success in today’s business world is largely dependent upon building strong relationships with our customers. The Ritz-Carlton Hotel discovered a number of years ago that to bring in a new guest, it cost the company an average of $5,000. To keep/retain an existing client cost them almost nothing.
How do we build these strong customer relationships? Don’t take their business with you for granted. The best way, in our opinion, is to maintain constant contact with them after you’ve made the sale, and as long as you are in business. You never make your money on the first sale, you make it on the repeated sales.
Many times, providing good services to existing customers brings in additional business, and it requires very little effort on your part. Simply put, it is cheaper to expand an existing customer’s business than it is to get a new one.
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Monday, July 28th, 2008
Volunteering for various community activities can be an excellent way for you and your business to get known. There are many organizations you can get involved in such as; service clubs, chambers of commerce, youth sport leagues, church activities, municipal commissions, private foundations, school boards, and more. They are continuously looking for talented volunteers to assist them in accomplishing their mission.
Your involvement enables civic and community leaders, business owners, and other “movers and shakers” to get to know you in a different way than just as the “owner of…” This results in them feeling much more comfortable about referring individuals to you, as well as, doing business with you themselves.
I know an individual in a Southern California city who receives nearly all of her business from referrals from the local chamber of commerce of which she is a member.
It is also a way of giving back to your community, church, etc. that’s been helpful to your business. If you’re not volunteering for anything, start today. It may be the best thing you’ve done for yourself and your business.
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Posted in Business Info, General Business, networking | No Comments »
