December 2008

New Year’s Resolution: Never Give Up On Viable Customers

As 2008 draws to a close, it’s time to revisit your “lost cause” file. These are the customers you are sure will never send you more business. Pick up the phone, spread a little holiday cheer and try to repair broken relationships. The New Year offers a fresh start and a chance to mend fences. Put problems like these in the past: blown deadlines on critical jobs; incorrect billings; and, rude customer service. Regardless of how mistakes were made, the outcome is no more business.

The economy is challenging to say the least. But guess what: People who have done business with you in the past will pick up the phone when you call because they know your name. There's no better time than the present to give it another shot! Here are three suggestions to keep in mind as you begin:

1. Forget Price Concessions: Although it may be tempting, don’t capitulate to market pressure and offer unsustainable price slashing. Instead, focus on how your company can help each of these prospects win more customers. That's a heck of a lot stronger than a 20% discount, which you can’t afford and they won’t believe.
2. Be Creative and Honest: Calling on lost causes may seem like a grim task, but you really have nothing to lose. When you're trying to revive long-dead relationships, it's worth it to take a chance and be a little creative. Try sending a "we've changed" letter – complete with a list of your prior shortcomings and the steps you've taken to correct them. An honest, reflective self-assessment approach may be just the icebreaker you need.
3. It’s Not Just Lost Causes: Once you've won back a few customers you never thought you would, don't stop there. Apply these same principles to prospects you just haven't had any luck reeling in. These are the companies you know you should be working with, but who simply haven't responded favorably to your previous marketing attempts. A different approach may be just the tonic that gets these prospects back into your portfolio.

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