When people are spending less it can be more cost-effective to revisit old leads than use valuable resources chasing new customers.
Your old customers could be a valuable source of sales as they already know you and your business. They were once happy to buy from you, so you may be able to persuade them to buy from you again, especially if you once had a good relationship with them.
It is cheaper and easier to look at that old data base before you start with brand new customers. With new leads you have the time consuming task of finding new customers from scratch.
Keep Accurate Records
If you have kept accurate records of customers you will know their buying habits. Set up a system to store this information straight away if you don’t already have one. This will allow you to retain future customers buying habits.
If your system tells you that a particular customer hasn’t bought from you for a few months or longer you should contact them immediately. It is important to find out why the customer left you. But you also need to develop a connection with them before trying to sell to them again.
Just ask them how things are going; try to find out is the answer to the question “why aren’t you dealing with us anymore?”
They may have been unhappy with the customer service they received from you or found a better deal from a competitor. So show them that you have improved your customer service policy. Offer them a substantial discount to try you again.
If they are having cash flow problems you could offer them flexible credit terms. Sometimes customers move away because they have not had regular contact with you, so make them feel valued and send them a newsletter or a welcome back email.
Contact them every few months even if they don’t come back you straight away. Their current supplier might disappoint them or they may change their purchasing plans. Do not write them off completely as customer’s needs are always changing.