Building Relationships: Pleasing Your Existing Customer Base

How are you getting through this tough economic time?

Last year during our regular Monday morning meeting I broached the subject about the economy with my team. Lets talk about our future? None of us knew exactly how things would play out and yes I was more than a little nervous. What I did know and shared with them was, now more than ever, our clients needed to know how valued they were and we needed to approach their assignments no matter how small, as if it was our first and only chance to prove ourselves. We’ve worked very hard this year and we’ve been lucky, our clients are all still in business and happily, not one of them has gone elsewhere.

While a growing business needs to constantly have new customers, the focus must be on pleasing your existing customer base. From my experience companies that fail to nurture and retain their clients ultimately fail. I remember when the dot com was all the rage in the 80’s (ok, so I’ve been around awhile). Firms I knew were dropping their clients pursuing the glitzy new kid on the block! Sadly when it all went bust many of those firms went out of business.

According to an article in Harvard Business Review “Building Relationships” shows where many companies are headed, and all must inevitably go if they hope to remain competitive. The key distinction between a traditional and a customer-cultivating company is that one is organized to push products and brands whereas the other is designed to serve customers...”

–Ann Byne, Creative Director/Principal of The Byne Group

Harvard Business Review: http://hbr.org/2010/01/rethinking-marketing/ar/1