You have a 93% market share. Now what?

If you consistently apply the strategy from yesterday's blog post then you should be well on your way to grabbing a huge amount of market share. But now what?

It's important to keep doing what you're doing, not only with your customers but also with the people who went with your competitors.

What does that mean, exactly? It means to keep sending cards after someone becomes your customer. And just as importantly, for the ones who didn't. But why would you want to keep contacting someone after they become your customer? Isn't that just a waste of time and money? Especially if they went with someone else?

Not at all! You went through all the trouble to get those customers and you want to hang on to them. And at some point the customers that you didn't get will probably be up for grabs!

According to this chart, nearly 7 out of 10 people who quit doing business with someone is because of "Perceived indifference". You may love your customers, but if you don't let them know they may think that you don't care.

Let's go back to our hypothetical 100 customers from yesterday. And let's pretend that 93 of those 100 customers are yours. Let's also assume that 10% of the customers, or 10 out of the 100, leave. Of those 10, 7 will leave because of perceived indifference and 3 will leave for one of the other reasons. But, if you're following up with your customers they probably won't leave you which means that the 7 customers will be leaving your competitors. And if you've kept in contact with them, they'll very likely think of you when it's time to move on. And even more so if they ask for referrals...as you'll recall from yesterday since you have the most customers you'll probably get the most referrals.

In a perfect world, most if not all of those 7 customers looking for a new home will come to you. But since this isn't a perfect world you probably won't end up with 100% of the customers...since some may go with friends, some may not like you for some unfathomable reason, or one of many other reasons but you should end up with a substantial market share over time.

So, to wrap this up...please check out the Master Relationship Marketing course for an excellent series of video lessons on how to use follow up to build and maintain your customer base or you can contact me for more information.

Interesting days

Today - Vesuvius Day, International Strange Music Day, Knife Day and Pluto Demoted Day 

Tomorrow - Whisky Sour Day, Burger Day and Kiss And Make Up Day

 Next Wednesday - We Love Memoirs Day, Trail Mix Day and Love Litigating Lawyers Day

September 24 - International Rabbit Day, !@#$%, Cherries Jubilee Day and Save Your Photos Day Did you know that with a free SendOutCards account you get storage space for 500 photos! But if you need more you can upgrade to 1,000 photos for a one time $99 fee. Still not enough? You can upgrade to unlimited photo storage for a one time fee of $199. And your photos will be stored where you can easily use them on a greeting card!