• Can You Afford It?

    Volume18| March 2018
     
     
    Customer Acquisition
     
    On average, about 90% of revenue in a small business comes from existing customers! Just let that sink in for a minute.
     
    Of the remaining 10% of revenue, about 90% comes from referrals from existing customers.
     
    Yet, an inordinate amount of money is spent by most small businesses on useless advertising to drive more business--revenue that is already coming from existing customers and referrals.
     
    How can you improve revenue and gain more customers? Rethink how you spend your advertising money. Plow that money back into your existing customers. Give VIP discounts, hold special events and reward your customers. One flooring dealer rewards customers who make large purchases with a gift certificate to a local caterer. The customer is encouraged to throw a party and invite their friends to see their new flooring!
     
    ACTION ITEM: Think about recent large purchases made by customers. How can you leverage the good relationship and customer satisfaction? Find ways to reward good customers that will encourage them to send you referral business.
     
    Visit our Website
     
     
    Reading/Viewing Recommendation
    Flip The Funnel: Using Existing Customers To Gain New Ones
     
    The author of Flip The Funnel explains the way marketing has changed and how you can transform your marketing efforts to gain more customers and more revenue.
     
    Click Here To Read
     
     
    Karl M. Stearns, President
    Karl Stearns is an award-winning advocate of small business. A professional speaker, sales trainer, and marketing specialist, he presents programs nationwide for a large array of industries. He also is available for private consultation in sales training, business management or marketing.
     
    Click on the Email link below to send a note, or phone to schedule a free consultation.
     
    Are you a member of a group or organization that would benefit from having Karl Stearns speak at your next event? Please email or phone and give us the organization name and any contact information you have!
      
    KMS Marketing Solutions | (570) 595-9011 | Email | Website
     
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