Don’t ever throw a customer name away. It is nuts to do so. If you pay to get a customer, doesn’t it make sense to try to sell them more of what you have to sell?
If they like doing business with you doesn’t it make sense to create side deals and sell them more products? Why do business people throw away customer names? Why don’t you ever get a call? A card? A letter?
Usually it’s because it’s easier to develop a system to make initial sales, yet the true profits in a business happen when you turn the first purchase into a lifetime of purchases. This is basic, yet it’s overlooked by so many. Look at history…successful companies that everyone acknowledges are insurance companies, food, drug and cigarette companies, oil and gas. Getting the picture? These are companies that sell and then keep selling to the customer.
You make more on the second sales because you have already paid to get the customer. Therefore, your cost to generate that customer is now zero instead of what your normal acquisition cost is. Once again, it’s simple, yet often forgotten.
Build customer loyalty through good customer service, great products; and while you’re at it make it fun to do business with your company.