Top 7 Ways You Can Make Money From Clients Who No Longer Buy From You
By Christopher M. Knight
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- First, analyze why they are no longer buying from you. Is it because you aren't serving the same market any more or that your price is too high for them? If so, find a competitor who serves a different part of the market than you do, who could benefit from your lost customer, and give a recommendation to your client to buy from your competitor, and create an arrangement with your competitor to pay you on commission for each referral who buys.
- Sell your dead customer list (we're talking snail mail or postal mail addresses only) or allow it to be mailed by someone who you deem as reputable. This option makes more sense if you no longer plan on being in this business.
- Call & ask your dead customer list folks for a referral to someone who they may be able to help. They may turn you down on the spot, but I can guarantee a good percentage of them will be talking about you with their friends who will become good referrals.
- The obvious: Do-not-assume that they are not buying from you because they don't want to, but rather assume they are not buying from you because they are not quite sure of what you have to offer, what new advancements you've made, what new price points or benefits/features you are now offering....my point: COMMUNICATE with your list.
- Offer your clients a complementary product or service from the one they already bought from you. 30% will typically say YES.
- Have a going away party for your clients who have not bought for the past 12 months. Make it fun, and cook out. Have door prizes that include samples of your product or service. The name of this game is: AWARENESS......while having fun.
- SELL or OFFER them information type products. For example, lets say that you sell PC's, but your clients aren't buying PC's from you any longer. Create and sell/offer them "a complete guide to building your own PC" for the do-it-yourself type person. Information products which include books, guides, cassettes, manuals, videos, email lists, teleconferences are all very high margin items which can deliver real value that can make your dead client list an active list again, and money in your pocket. :-)
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Article Submitted On: June 30, 1998