CRM: A long-term relationship is more profitable than a one-night-stand

CRM: A long-term relationship is more profitable than a one-night-stand

Looks and charm may get you one date. Character, consistency, caring and support will get you going steady, says Jacques de Villiers. The same holds true for your client. Your organisation may woo her to buy once at a high profit with promises of service, loyalty, discounts, friendliness, but if you can't back up your offering, you'll not have a long-term relationship with her. To do this you'll need to change your perception of the way you deal with a client.

Here are three ideas you may like to consider:

Think long-term

It costs most organisations money to sign up a new client. Depending who you talk to it can cost a company 9x more to acquire a new client than to service and grow an existing one. To get any real benefit and profits from your client you need to have her on board for the long haul.

Work out the lifetime value of your client

This concept should totally change your perspective. Let's take an example of a pizza takeaway restaurant: Imagine that a person buys an average of one pizza a week at R30 and he does this religiously for 40 years. You're looking at a massive R62 400 over that person's lifetime. Isn't it true that you'd treat a R62 400 client a whole lot better than a R30 customer. You'd want him to spend that money in your pizza takeaway and not in your competitor's restaurant, wouldn't you?

Think client not customer

According to the Webster's Dictionary, a customer is someone who purchases a commodity or service. A client is someone who is under the protection of another. Winning organisations become trusted advisers who have the client's best interests at heart. Those who do not look after their clients now, will not survive and thrive into the future. If you think that this is a trite statement, consider the following: of the Top 500 companies listed 100 years ago in America, only 14 are still in existence. Ignore the client at your own peril.

"What's in it for me?" you may ask. Well, if you become more client-focused, you become more valuable to the company. And if you become valuable, who knows where it could lead - more money, promotion and status?

Employ some of the following strategies over the next 30 days. There'll be three winners: your client, your organisation and you. If you go the extra mile and implement some of the ideas I put forward, you'll see profitable results for your organisation and for you. Remember, successful people do what unsuccessful people aren't prepared to do.

Client Relationship Strategy #1

Speak to all your existing clients (particularly, the happy ones) and ask them to recommend three other decision-makers in non-competing companies that your organisation can do business with. This is sure to lead to sales. Challenge yourself to follow up with those companies. I guarantee if you bring in those sales, the sky's the limit in your organisation for you.

Client Relationship Strategy #2

Get to know your clients better: birthdays, hobbies, sports interests and the like. Get as much information about them as possible and then use it.

Client Relationship Strategy #3

Get back your lost clients. Go through your dormant client base and send them letters asking them why you haven't heard from them in a while. Apologise to them for not getting back to them sooner. You can give them a discount to entice them back. These clients are not dealing with your organisation because it is taking them for granted and not making them feel real special. That's the bottom line.

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