Kenny Tran to Learn & to Share

84) Rekindle Procrastinating Customers - Here’s something you can do for your own business, or you can do a JV with another business and capture some of the “found” revenue. Many customers tend to procrastinate on their purchases. For example, a dentist may have 3000 patients, but after analysis, 1000 haven’t come back in over a year. A sequence of mailings to these 1000 (with incentives to come back) might bring back a certain percentage, of which you can negotiate up front a slice of the profits.

This may be nothing new to you. But most dentists know about dentistry, not marketing.

Or how about the carpet salesman who has customers that haven’t replaced their carpets in six years. If the average customer replaces his carpet every five years, you have an opportunity to offer them an incentive to act now.

85) Rekindle Former Customers - In addition to customers that procrastinate, there will always be customers, for one reason or another, that no longer purchase from a business. Perhaps they’ve moved out of the area. They may no longer have a need for your product/service (i.e. baby clothes…the baby eventually grows up). They may have passed away. There are lots of reasons why. And then there are those customers who are dissatisfied.

You want to target most of them. For those that are dissatisfied, you want to offer them an opportunity to make things right, to give them a special deal if they agree to give you another try.

For the others, they are most likely satisfied former customers. For whatever reason, though, they are no longer part of the target market. The best way to capitalize on that situation is to get them to refer business to you. If they are satisfied, they may respond favorably to a gift certificate that they can pass onto a friend or relative who IS still part of the target market.

Either way, it’s “found” business, and you stand to profit from it.

Let’s say you want to target chiropractors. You can locate a bunch of authors who are reputable and recognized by chiropractors, contact them, and tell them what you’re doing. Ask to buy a bunch of copies of their book at a discount if they would be willing to send a letter to these chiropractors along with their book (at your expense). The letter would say something like:

Hi, this is John Smith here. You probably know me through my book, ‘17 Ways to Grow Your Chiropractor Business Today.’ It’s been reviewed in Health Economics, and I’m sending you a copy of my book with my compliments and introducing you to Jane Doe, because she’s got a great way to reactivate your no longer active patients. I’ve asked her to email you in about a week.

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