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In this difficult trading climate, looking after our existing clients is a fundamental necessity. Everyone I speak to says they want more business and clients yet few realise the impact of losing them. Just as you are hunting for new clients so your competitors are looking to take yours. So shouldn't you be spending more time farming those relationships you already have , after all you are a known entity. A strong client will come from not just the business that you have with them but also the referral opportunity to other departments, or indeed their customers and suppliers.
On average its 10 times harder to win a new client that develop the same amount of business with an existing one. One way you can do that is to consider a referral programme or loyalty scheme. Tesco Clubcard is without doubt one of the most successful points based loyalty schemes ever. One of the reasons behind it is that the rewards are based around what their customers want particularly huge savings on holidays. UK Leisurewear have also had some considerably success with their reward scheme. Why I like reward schemes is because they in fact are an excellent way to engage and communicate with your customers. Statements are personal and the rewards are based on individual choice. There are also motivational schemes designed to get customers to spend more If you are a promotional gift distributor or garment decorator never forget your customers have many choices so keep reminding them of promotional opportunities. If you are promoting a value weight T shirt, at an exceptional price, remember to highlight the potential application - 10 great ways in which you can use this product . Spend £1000 with us for your free Ipod. It means you are only giving away something costing £100 on a goods order that would show £300+ profit so you net £200 and a new customer. Free screens and a percentage% of your order do not tend to grab people in the same way that a highly desirable item does. Others have tried gift experiences , weekend breaks, cruises, all have differing success depending on the value of the goods.
Another suggestion is to try and approach the procurement departments with a view to locking out your competitors by offering a rebate for sole supply contract.
Some providers of Loyalty Schemes include Procurement 0118 973 4422
Electrical Incentive Company 01376 345555
PM & M 08450 535527
Projectlink Motivation 020 8977 9776
Softpoint Media 0870 200 3300
Sony 01932 816 000
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