5 Simple Sales Strategies During a Recession (5-Part Series) By Tiffanie Z. Lyon, MBA

June 9, 2009

PART 1
1. Develop and Nurture Existing Customers
We all know it’s easier to develop and deepen existing customer relationships than to go out and find new ones, especially during a recession. Now’s the time to look more closely at your existing client base and analyze them. Who spends the most? Who buys most frequently? With whom do you have the best chemistry or relationship and why?

Once you’ve re-connected with your customer base analytically, then reach out to them and discover additional needs they may have. You could be in a prime position to cross-sell or up-sell additional services that they may not have even realized you offer. Conduct a mid-year analysis or review with them.

It’s also a good idea to ask your best customers for a referral. But remember to show that you appreciate their business and also narrow the request down for them. It’s easier to think of people and companies when the universe is narrowed down versus asking, “who do you know who may be interested in my services?” For example, “Tom, you’ve been a long-time customer of ours and we sure appreciate your business. Who do you recommend I speak to in this office complex/on this street/in your Rotary Club who may be interested in our services? A referral from you would bring the kind of people we love to work with.”

Dig deeper within the organizations of your customers. Be certain you know all the players and have a connection “up the ladder.” For example, you may have a great relationship with a key person at the client company, but you really have never met any one else, such as the divisional manager or president. It’s important to have the endorsement of top management in case things change or your primary contact loses their job. A strategic approach is needed since you may be going over the head of your contact. This can be done, if it’s approached the correct way. Ask your contact if they can help you arrange a meeting with them, as well as a couple other key people. You should know who this people are if you know your customers well. Position the meeting as a way you are providing value-added service to your best customers, while stressing the importance of getting to know your customers even better. Offer a mini-training session, a product demonstration or something else considered value-added for them. Also, say that you want their input and feedback on how you can improve your products and services. This should warrant a meeting with several key players and keep your foot sturdy in this customer relationship.

Send your customer referrals when possible and do business with them, when possible. This shows your dedication and loyalty to helping your customers grow their businesses. They WILL remember these small efforts.

Send your customers cards often. In this electronic age, we seldom get snail mail letters and cards. Send a note letting your customers know how much you appreciate their business.

These are just a few things you can do to develop and deepen customer relationships. Keeping current customers happy is important at all times, but especially during a recession. What do YOU do to develop and deepen customer relationships??? Please share!

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