If you’re taking your trade show exhibit to an event, you probably have all sorts of ideas that will help you meet new customers and increase your lead base. While this can be a primary reason for businesses to exhibit at trade shows, it’s important that you don’t neglect your existing customers.
Why Existing Customers Should Not Be Ignored
Keeping an existing customer happy is one of the most cost-effective ways to keep your business growing. When you focus on treating your existing customers well, you can help ensure that they come back again and again. Moreover, existing customers are a great source for feedback and suggestions for improvement, both in and outside of the trade show booth. They are also a great referral source for potential clients. By keeping a positive relationship with current customers, you are only helping yourself. No client should be “bigger and better” than the one before it.
Are existing customers more valuable than new ones? No, but read on.
Why should companies focus more on existing clients than trying to gain new ones? One word: sales! A study by Marketing Metrics has shown that the probability of selling to an existing client is 60-70%, throughout any industry. However, the probability of selling to a prospect is only 5-20%. If you’re trying to increase sales, you’re going to have more luck pitching a new product to someone who is already a client.
Are you looking for ways to cut trade show costs? Did you know that a 2% increase in customer retention can have the same effect as cutting your company’s operating costs by 10%. Show your current customers just how much they mean to you when they visit your booth, and when you’re in day-to-day communication with them.
Value Your Customers
Now that you know how important it is to treat your customers well, how can you show them what their business means to your company? It’s not hard! If you can, greet them by name when they approach your trade show exhibit. If your business is all done remotely and you’ve never actually met in person, try to brush up on some personal details so you can greet them personally when you get to put a name with a face.
It can be a balancing act when you’re trying to speak with both existing and new customers in at a trade show. However, before you take your display to an event, make sure everyone understands that your existing customers should never be brushed aside.
By: Craig Koopersmith –