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I was astonished recently to be phoned and offered a "New-Customer Only Deal" by an electricity retailer ... my existing electricity company...
Then, to be advised (by my caller) that I was “not eligible for this low-rate discount” due to my current ‘Relationship’ (yes, they even used the ‘R’ word to reject me)… Overlooking the obvious This is an all-to-common phenomenon: companies spend an inordinate amount on advertising, promotion and ‘customer win-back campaigns’, at the expense of their existing (goldmine of) customers. They are like a goldminer abandoning an existing seam of gold to spend all their effort prospecting… Are you '$0 to budget' each month, or 25-60% out of the blocks? Most businesses have wonderfully rich databases of existing customers. As owners/employees we can grind away month-after-month chasing and discounting each next sale, clawing ourselves from $0 to budget every month or start each month with 25-60% of sales already on the board from our retained clients. |
Odd bits of news and thoughts from the Wordcom Team... Archives
March 2021
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