By: Ray Thomas, COO, ZANA Business Network

Marketing professionals say that it costs five to six times more to win a new client than it does to retain an existing one. Surprisingly, most companies devote too little time to and spend too small a portion of their sales and marketing budget on client relationship management. Yet, one of the simplest ways to build a strong client relationship takes very little time and costs practically nothing. It’s communication with your customers!

Do you recognize the value of communicating with your customers? Take a moment and think about how much more profit you could generate by deepening your existing client relationships?

Marketing Tip: Common Sense Communication

So how do you improve communication with your existing customers? Common sense says to start by paying attention to their business. It sounds so simple and it is, especially with the online tools available to all of us today.

Most sales people do the usual things with their customers to thank them for their business -- hand-written thank you notes, small gifts, flowers for the office, an occasional business lunch or dinner, etc. These are all excellent things to do. But, what about the times in-between the usual buying cycle? Do you practice regular communication?

One of the best ways to build a strong relationship with existing customers is to pay attention to what is happening in their businesses, and then send acknowledgements via simple email notes to the key company contact(s). For example, if they announce:

• New products, compliment them. Ask them about their sales expectations.
• New facilities or expansions, this is usually a good sign. Do they need more of your products or services?
• Management changes, use them as opportunities to communicate with your contacts. Find out why the changes were made.
  • If someone you know is leaving, wish them well.
  • If someone is in the approval chain for your sales, have your contact introduce you to the new exec.
  • If you have had a positive relationship with the new person from past experience, tell your contact.
• Good financial results, congratulate them, especially at a time when the economy is struggling.

If you see they are undergoing financial challenges, let them know you are aware and ask if you can do anything to help:

• Is there a product or service you offer that can help them become more efficient or profitable?
• Can you offer them a one-time discount to help them through a financial crisis?

There are myriad categories of announcements and activities that enable you to communicate with your customers – strategic plans and initiatives, requests for proposals, patents, new marketing or advertising, awards, and more. In the ZBN Prospecting Center, we refer to these activities as “sales triggers” – opportunities that can open many doors and create new revenue for you.

Watch for more Marketing Essentials tips from ZANA Business Network and visit http://www.zananetwork.com for more business ideas and resources and to market your products and services at no cost.