It is Marketing 101 that it costs 10 times as much to attract a new customer as to keep an existing one. Yet, I continue to see too many practices and organizations neglect their existing base as they put all of their focus and effort (and $$) into attracting new patients or customers.
My good friend and colleague Bob Kodzis cautions against taking the “short view” on relationships and instead focusing on “lifetime value.” Here are a few more reasons why this is important:
1. Jumping Ship — Shallow customer relationships are more susceptible to the advances and marketing of your competitors.
2. Forgiveness and Survival — Weak relationships will crumble when mistakes are made or expectations are not met while patients with long-term relationships are more likely to forgive.
3. Free Marketing – People with whom you have strong relationships may eventually act as willing marketing advocates for you, referring new patients to your practice at no cost to you.
And the same holds true for your relationships with your referral sources and even your staff.
Spring is the perfect time to evaluate the ways you nurture and strengthen these relationships. Involve your entire team and explore new ideas that will help them all blossom and grow.