Keep Your Customer Pipeline Full
Updated: Apr 11, 2019
Ain’t life grand! The order book is full, business is great, the money’s rolling in - ahhhh, this is the stuff.
I pretty much heard this from someone the other day. However, not even four years ago, they were on their knees.
By their recent good fortune, several competitors recently closed down.
Now don’t get me wrong, you’d take that all day, every day, but I somehow get a feeling, that this person is riding the crest of the wave that's about to break.
They had that look in their eye that they’d made it. Almost feet up on the desk type of thing…
And on probing a bit deeper, I also found that because things were so great, they’d cut their marketing spend too.
And that’s when the alarm bells went off for me…
The good times are great, but believe me, they don’t last for ever. And you only need a new competitor to pop up on the block, and suddenly your pond is very much diluted.
My advice to this person would be this…
Of course, enjoy the good times, but instead of taking your foot of the marketing gas, ramp it up.
Use the time and extra resource you have right now to get that customer pipeline well and truly filled up.
Spend your time building brand loyalty and really looking after the customers you have now. Make them feel extra special and even throw in the odd, unexpected, random act of kindness.
Now is the time to galvanise…
It takes a whole lot more marketing spend to acquire a new customer, than it does to retain an existing one.
So enjoy the good times, but make them even better, because a happy customer is a returning customer.
It's better to be oversubscribed than looking down an empty pipe.