You have 2 types of customers.
Those that you forge relationships with and those that you don’t.
Those that buy from you regularly and those that don’t.
So what makes a customer buy from you regularly.
- And relationships
How often have you heard a friend say, “you should buy from XYZ Company as I know someone there. Call them and ask for Freddy”.
Your friend has a relationship with that supplier. He knows Freddy and in turn that company has engaged with your friend. He probably feels comfortable buying from them. He knows he is treated well when he does business there. He trusts them.
And if we apply the 80:20 rule, those 20% of customers that you forge a relationship with, contribute 80% of your income.
So what would happen if you could convert another 20% of your customers into “relationship” customers. What if you really welcomed their business, talked to them, got to know them, sent them regular relevant info about you, your products and the industry. What if you really helped their business with product deals, advice and encouragement?
If you could double the number of engaged customers you have from 20% to 40%, you could increase your business by 80%.
OK, the numbers may be fuzzy, but you get the point.
Ask yourselves, how well does your business engage with your customers.