After the Sale

       Is your sincere thank you the end of the sale? NO. How you treat your customer after the sale is crucial to the success of your business.People do business with people who they know and trust.Encouraging them to be repeat customers is much easier, and less expensive, than cultivating new customers.

       Absolutely essential is a Thank You Note, within three days.  This applies to both business and personal transactions. If you only do business on the internet you might get away with email; hopefully not an auto responder that is cold and generic.  Someone in your Organization should be in charge of making sure this is done properly.

       Smaller Organization s can easily add this activity to their work flow. They also have more of an opportunity for personalization.  The people who actually interacted with the client should be sending out the thank you notes, or gifts where appropriate; that's all part of relationship building.

       The really smart salesperson will take the time to hand write (horrors!) and personalize their ThankYou notes.  Include a comment that indicates that you were really paying attention. Send it by snail mail; your message will stand out because hand written mail is so rare today in our electronic age.

       Then, depending on the lifespan of your product, you should contact your customer again.  I don't however recommend a Christmas/Holiday card; your message will get lost in the pile.  Try any other holiday or regular event, like daylight savings time or the change of the seasons. And, of course, don't miss their birthday or any articles you see written about them.  That gives you at least two contacts per year, three if you send holiday cards.

       Seasoned, successful salesmen/women also pick up the phone occasionally.  "Just thinking of you", "this reminded me of you", or congratulations on your new position/baby/whatever. 

These professionals have worked with these same customers or clients for several years and sometimes even multiple generations.        

       Think of the security of knowing that half your income is already made for the year because of this business that you have cultivated, tended, and watched grow.  You can now spend your time planting the seeds of new customers to grow your business.

Fire Your Customers

       Increasing sales may not be good for your business. Are you crazy, you say? Not at all. We often are concerned that we have more customers than ever before but aren't making more money. There is a very easy answer. The solution can be found in an analysis of your customers. There are a certain level of customers or clients that make you money; about 20% and a group of about 10% that are costing you money. These are the one time buyer or the small quantity user. Costs that are amortized across the whole sales process decrease per unit when tied to larger quantities. That means that the 80% of small customers are costing you more than you are making.
       You need to analyze your customers to see which group they each belong to. It is important that you direct your best marketing efforts at the 20% of customers who are improving your bottom line. Your middle group probably tends to be very loyal so special attention is not necessary. The bottom group are the customers that you fire. You can easily reduce your number of un-profitable clients by increasing minimum orders or convenience fees. In time your customer list will contain fewer names, but they will be the most valuable.
       Doing a SWOT analysis and ROI study will show you where you should direct your best efforts.  Losing a customer who is costing you money is no loss at all.  Find your losers and eliminate them.

Happy Campers

A surprise to many business owners or leaders is the fact that their customers are not their most important asset. The most valuable asset you have in your company is your well-trained staff.

Happy and committed employees will build and maintain a strong customer base; disgruntled team members will do just the opposite.

Some of the most successful companies today have created employee models that seem frivolous and expensive, but the return in incalculable. Creation of a workplace Corporate Culture that is respectful of your employees while maintaining the bottom line is large part of your success. It guides how employees think, act, and feel.

Companies like Apple Computer, Ing, and Zappos have gone to extremes for their employees; you can even bring your dog to work. The fall-out from this is the line of talented people waiting to work for them. You can get the same results, on a smaller scale, with creative benefits that they'll value more than money. Studies have shown that money is rarely the prime motivator. Comp days, flexible schedules, production bonuses, wellness programs, unique, customized incentives, or at least a R&R area all lead to happy productive employees. In absence of these things, words of praise, respect, and compassion will work well. Empowerment is the key.

In turn, your employees will go out of their support to you. They will want to be knowledgeable, helpful, empowered, and courteous, This translates to an atmosphere where shopping, or whatever, is a pleasant experience. These customers and clients will tell their friends and that the word will spread.
These concepts should not be reserved for your management or sales staff. They should be applied to everyone from the janitor to the boss. Your goal is success and this is a very important component.

Fire Your Customers

Increasing sales may not be good for your business. Are you crazy, you say? Not at all. We often are concerned that we have more customers than ever before but aren't making more money. There is a very easy answer. The solution can be found in an analysis of your customers. There are a certain level of customers or clients that make you money; about 20% and a group of about 10% that are costing you money. These are the one time buyer or the small quantity user. Costs that are amortized across the whole sales process decrease per unit when tied to larger quantities. That means that the 80% of small customers are costing you more than you are making.
You need to analyze your customers to see which group they
each belong to.It is important that you direct your best marketing efforts at the 20% of customers who are improving your bottom line. Your middle group probably tends to be very loyal so special attention is not necessary. The bottom group is the customers that you fire. You can easily reduce your number of un-profitable clients by increasing minimum orders or convenience fees. In time your customer list will contain fewer names, but they will be the most valuable.