Stop your customers becoming rivals’ conquest targets

We all know that renewals customers take less time to deal, typically retain higher margin and are much easier to manage through the process. It seems strange that as a profession we would still prefer to chase deals that take longer to close, make less money and leave everyone happy but knackered afterwards? Satisfying yes, but efficient? No.

At this point I chuck in a hand grenade of logic – why not do lots of easy, quick, low energy high margin renewals during the working week, with an occasional conquest customer chucked in for shots (sic) and giggles?

Let’s be clear about this, we aren’t talking about equity positions, or parity, or those golden moments in a deal – nor are we talking about complex pre-preparation and solid scripting prior to a phone call that always seems to land slap bang in the middle of a customer settling down to a favourite TV show. I’m just talking about simple but regular communication.

Keeping in touch

To all those people you sold to last year, send them a note thanking them for choosing you, your business and your brand. Remind them you’re available for aftersales, service, parts, body, advice or even just a chinwag. Don’t sell them anything, just let them know them that you are still there and continue to be happy to help.

Make your business, your brand and your sales team front of mind for each and every customer so you get first bite of that elusive cherry when the time is right for the customer.

Our finance partners can help us with mutual customers equity and parity positions, and they may even suggest strategic times to make contact – but the best bet is to be there for the customer the very moment they need you to be, and that is always out of your control.

Frankly we have no idea what life will throw at them – job changes, promotions, family movement, divorce, health, lottery winnings and windfalls all factor in at this point, and none are known by us until our customer chooses to tell us.

Finally, let’s remember that every single one of our customers we dealt with last year is a conquest target for our competitors this year and after. Our customers know and trust us, and so as long as we give them good reason to keep trusting us, we have a great chance to remain their preferred ongoing supplier.