Start Mining the Gold in Your Small Business Database: Part 1
Nurturing the clients in your Small Business database can be more profitable than a never-ending search for ‘someone’.
When I ask this question of my Small Business clients and audience members, ‘If you had a magic wand and could fix one thing, what would it be?’, the most common response is emphatically: MORE CLIENTS.
If this is your answer as well, please read on to find out one simple strategy which can increase your bottom line immediately.
We spend so much time and money (and thus energy and effort) looking for our next client which, in marketing terms, is called our Attraction and Conversion Strategies; that I believe we neglect the Nurturing Strategy of our existing clients, to our detriment.
The easiest thing to increase our bottom line is to continue to engage and re-engage with our existing clients – those wonderful people who are the gold in our database – but we just forget about it.
Why? Because we get busy with client work and looking for the next sale.
Let me share with you two stories to demonstrate this point: the first is my story (Part 1) and the second is from one of my clients (Part 2).
Recognition of the gold in my Small Business Database.
Back in 2019, I wrote my first two business books which was a fantastic achievement. And I was so excited about the fact I launched the books and people actually bought the books that I missed the next step – what happens after they buy the book.
Why? Initially because, to be honest, I was drained from publishing two books in 6 months. And then I got busy with clients (as we all do) and also selling the book, that I didn’t take the time to develop and document a leveraging funnel process, which is ironic because I’m known as The Simple Systems Specialist.
And so, unfortunately, I’ve realised I haven’t nurtured the wonderful people who have bought my book as well as I should have.
Sure, I thanked them for buying the book and making a difference because $2 from every one of my books goes to helping to find a cure for dementia.
But I haven’t gone back to them and said, ‘How did they find the book and what’s the best advice they gained from the book?’
Shocking but true especially when it only feels like three months since I launched the books instead of three years.
So one of my focused strategies for the next 90 days is to rectify this neglect.
I will be going back to everyone and not only thank them for buying the book and supporting me as an author but to see how they’re going in their business and whether my book helped them.
As an apology for inadvertently forgetting about them, I will also offer them a free Magic Wand Discovery Session so I can simply help them fix their Magic Wand question.
Now think about your Business.
Have you sold a product or a particular service, and because you haven’t documented a nurturing follow-up system, you’ve given clients the impression of ‘ Thanks very much’, and that’s all.
We know, due to the noise in the marketplace, that we need many touch points to keep us front of mind with our clients. But it doesn’t have to be war and peace or 20 emails in quick succession. It could initially be as simple as subscribing to your blog or newsletter, and through this structured funnel process, continue to nurture these clients and provide them with tips which can help them save time and money.
We all need to run a simple profitable business that we love yet our busyness can get in the way of opportunities.
So if you’ve felt guilty because, like me, you’ve neglected some of your wonderful clients, ask yourself what you can do to reconnect with them. Explain that it was circumstances and poor planning rather than bad intentions, as the reasons why you’ve lost touch with them.
Maybe like me, it’s an anniversary email saying, ‘Wow it’s been three years since I’ve written the book. My how time flies.’ And then go into the apology and hopefully they will forgive you (and me) and come back into our business world.
So how are you mining the gold in your Small Business database?
Do you have a documented system to ensure you maintain and retain each client by continuing to provide value and further ways to engage with you? If not, why not because spending time to develop and implement this system can easily result in an increase in your cash flow and bottom line. And isn’t that what every business owner wants?
Remember: your database is the most logical people to be asking for referrals and thus gain new business because they are already your raving fans.
So where are you spending your time and effort?
Is 80% of your time invested in finding new customers at the expense of nurturing your database?
I suggest spending 80% of your time mining the gold already in your Small Business database because that is where the financial and the personal seeds need to be sowed to reap the financial and personal benefits.
“The opinions expressed by Smallville Contributors are their own, not those of www.smallville.com.au"
SHARE THIS ARTICLE WITH LIKE MINDED SMALL BUSINESS PEOPLE