Many readers have been asking me about V.O.R.T.E.X. (TM) so I thought I would take this post to explain.
Your customer list is your most important sales asset. Not only is it easier to sell more to existing customers (because they already like you and trust you), it is more profitable. The most recent studies show that repeat sales are up to 15 times more profitable than new sales. If you are a business owner – this statistic should excite you! If you are a sales rep, take note that one reason repeat sales are more profitable is because repeat sales are faster. When I teach Sell More, in Less Time, and Make More MoneyTM we focus on relationship building to ensure you are capturing as many repeat sales as possible, for this very reason.
I should note that there are lists, and then there are lists. The sales rule of thumb is that a list loses 10% of its value each month of absent contact. So, 10 months of no contact with your customers means your list is worth nothing…and you might as well cold call. Relationship neglect results in many sales losses, including seduction by competitors and the loss of referrals which over time can result in 10’s or 100’s of thousands of dollars in losses for your business.
Your list is as valuable as the quality of relationship you have with the customers on your list their perception of that relationship. To sell more to the customers on your list you must transition your thinking from “customer list” to “building a relationship with my customer”.
You can create a profitable relationship with your customers using the following components (read VORTEX):
For example: looking for unique ways to stay in front of clients in January? Try using the following holidays as an excuse to reach out to your existing clients in a different way. Remember the worst experience you can give your customer is the same experience they can get somewhere else.
|
January Event |
VORTEX idea |
| Coffee Gourmet month – | Send your clients a StarbucksTM card! |
| Financial Wellness Month | Offer tips on how to save money by using your products or services |
| International Creativity Month | Have a contest for the most unique use of your product or service |
| International Quality of Life Month | Offer tips on life balance. |
| January 4th Isaac Newton’s Birthday | Do a campaign around Apples…or Gravity |
| January 16th Appreciate a Dragon Day | Sponsor a Dragon boat team, |
| January 16th National Nothing Day | In your newsletter make suggestions on how your clients can do nothing for a day! |
| January 22nd Answer Your Cat’s Questions Day | A Q and A section in your newsletter sponsored by the CEO’s cat! |
| January 24th National Compliment Day | Reach out and tell your customers what you appreciate most about them |
| January 25th Macintosh Computer Debut | Mac vs Pc? |
| January 28th Bubble WrapTM appreciation day | Send bubble wrapTM as a gift with a list of useful and fun uses for it! |
Of course you could take this approach with every month. All you need is a copy of Chase’s Calendar of events – or access to Google for searching on “unique holidays and events in month)”. The opportunities to surprise your clients with unique messages are endless. Try it. You will profit form the results. I promise.
Dedicated to increasing your sales!
Colleen
Hi Colleen
I tell you where I struggle with these ideas: Other than the 2nd and 3rd suggestion none of the others have anything at all to do with ‘your business’. They are merely gimmicks to get attention – but then what? Getting attention for the wrong reasons won’t improve your sales. (and would cost a fortune in time, effort and money with no real ROI)
My preference for keeping in touch with clients is to provide them with something of value that is both relevant to them and relates to what I do – that way I am staying top of their mind but building credibility in their eyes because I am demonstrating my value.
Regards,
Vanessa
Thanks for your comments Vanessa,
The key to this message is to find a way to build a relationship with your client that speaks to them personally as well as professionally. While the other items might not be relevant to your business they could be relevant to other businesses. Sure it might seam odd for a technology company to celebrate “Answer your cat’s question day” but it would be relevant for a Vet that specializes in Cat health.
The big idea in this post is not to encourage you to user these specific holidays listed but instead to think of ideas that are relevant and unique to your business. Being boring is a sin in business.
Absolutely!
Thanks for the clarification 🙂