Sales Tip of the Week from Mike Leeds – Pro Sales Coaching
What Does a "Customer for Life" Really Mean?
Many sales people are focused on the sales opportunity in front of them instead of focusing on a lifetime of sales from an existing customer.
I recently was at a supermarket, and I observed an un-satisfied customer speaking with the cashier. The situation didn't go well as the customer left their merchandise at the register, didn't pay, and walked out of the store upset. The manager didn't hear the conversation and approached the cashier after the customer had left to inquire about the situation. The first comment I heard from the cashier in defense of his position was "it was only a couple of items." I saw a gallon of milk, a carton of orange juice, and 4 yogurt containers. The manager asked the cashier to go the office a wait for him. I was the only other person in line, and after he processed my purchases he would join the employee. The manager apologized for the situation, and thanked me for my business. As I was leaving the store I could see that he had closed the check-out lane, and was heading to the office.
Think about the value of this customer relationship. Most of us shop at grocery stores fairly close to where we live, and we may have a few options to choose from. A recent Maricopa County, Arizona statistic stated that the average homeowner lives in their home for 6 years. If a family spends $100 a week at the grocery store, the potential worth of that customer is $31,200 over the 6 year period. The $8 in food I saw could have been from a regular customer, since it looked like a mid-week replenishment of items. What is the long term worth (or lost opportunity) of this particular customer?
If you solve your customer’s problem or fulfill their need, provide the products/services you committed and treat them fairly, you have an excellent chance of maintaining the relationship. In addition to a long term customer, think of the additional referrals that may follow. When you calculate the long term value of a customer making repeat purchases from you – the numbers may surprise you!
Have a successful day!