Engaging and entertaining, Mr. Bob Cassels is an expert at referral marketing.
At last evening’s GWIN (Guelph Women in Networking) meeting, Mr. Bob challenged us with several provocative questions:
• What do you do with your client list?
• Are your customers referring you to new customers?
• How much time do you spend with existing customers?
• Do advertising companies guarantee increased sales?
• Do you have a system that promotes customer retention and rejuvenation?
Mr. Bob has a clear mission.
Using his unique Cassels Opinionnaire, he can help small businesses flourish in a crowded marketplace. Throughout the seminar, he stressed that present customers are a goldmine for repeat sales and new referrals.
I was surprised by the statistics he shared from Fabled Services by Betsy Sanders. In response to the question, “Why Do Companies Lose Customers?”
Sanders discovered that…
• 1% died.
• 3% moved away.
• 5% were influenced by friends.
• 14% were dissatisfied with the product.
• 68% were turned away by an attitude of indifference on the part of a company.
Mr. Bob’s Bottom Line…
“I recommend you spend a little less on new sales and retain more customers by spending more on the 68% you could potentially lose from indifference. At a fraction of the cost of obtaining new customers, you can show your existing ones that they are appreciated. Customers who are appreciated spend more.”
Thank you for your wonderful blog post. Here is a big question for business owners. Why would any reasonable business person spend good money to get new customers and ignore their own customers? Especially when it cost ten times more to attract each new customer. How about generating the following from customer rejuvenation “45 percent increase in referrals and a 35 percent increase in revenue”
You’re very welcome, Mr. Bob 🙂