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Add to what you have

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The recession has everyone scrambling to get their numbers to add up. I’m betting that you’re crunching more numbers more often than you have in many a year.

But there’s one equation that I think most businesses are still getting wrong. Check my math on this one.

• You make most of your income from current customers.

• Your current customers are happy with you, so they are predisposed to buy again.

• Your current customers know you and take your calls.

• Your current customers have other needs.

• You invest 90-plus percent of your marketing budget on chasing after strangers.

How does that actually add up?

Now is the time to strengthen existing relationships. Now is the time to slather the love on your current customers. Now is the time to add even more value by making sure you’re meeting every need.

When was the last time, except for the obligatory year-end holiday gift, that you genuinely thanked your clients? What do you think they’d do if you told them how much you appreciate their business?

Or how about investing a little bit of time in handwriting some thank-you notes? Tell them why you appreciate their business. Sure, you could stamp “thanks for your order” on an invoice. Hardly the same thing.

This is one of those marketing tactics that we put off because it doesn’t feel urgent. There’s no order pending. We don’t think it’s going to improve the bottom line. But we’re wrong.

Nothing is going to pump up your bottom line faster than genuinely appreciating the clients you serve today. Better check your math and be sure you’re spending your time and money where you should.

Drew McLellan is Top Dog at McLellan Marketing Group and blogs at www.drewsmarketingminute.com. He can be reached at Drew@MclellanMarketing.com. © 2009 Drew McLellan