No matter how good a job you do for your customers, it’s inevitable that you’ll lose one or two along the way. That’s why it’s important to have an ongoing marketing program in place. The two best sources for new business orders are (1) referrals from customers, suppliers and other contacts; and (2) additional orders from existing customers.
A great deal of research proves what common sense tells us: Retaining an existing customer is far more cost-effective than finding a new one. However, we often overlook the fact that satisfied customers can also be a potent source of additional business. That’s why marketing to your current customers should be at the forefront of your selling efforts.
These days business is good for most manufacturers in general, and CNC machine shops in particular. It’s a pleasant feeling after the deep recession we all suffered through. However it’s still a very competitive world and keeping the pipeline filled with orders can be challenging.
Some CNC machine shops don’t think about looking for more business until the pipeline of orders begins to run dry. Unfortunately, this approach leads to periods when work is no longer flowing through the shop and overhead, payroll and operating costs spiral out of proportion to income. That’s why every business needs to continuously promote its products and services. One of the most cost-effective ways to do this is through email marketing.
There are many CNC machine shops that are relatively small in size and number of employees. However, with today’s technologies, even smaller shops can take on substantial jobs if they have the right combination of equipment and expertise. Of course to compete for those jobs, a customer must believe that the CNC shop can handle the work. Which means that the shop must project an image of competency and capability – and be recognized to begin with.
Manufacturers from small CNC machine shops to multi-billion dollar companies face the daily challenge of retaining current customers and finding new ones. Accomplishing these tasks falls under the broad umbrella we call marketing – a function that has changed radically in recent years. The primary game-changer is the evolution of digital communications technologies, especially the Internet.
Marketing is typically not on the top of most CNC machine shop owners’ minds. After all, each day is filled with myriad challenges, and the primary goal is to produce more and better parts and products. Unfortunately customers don’t stay around forever, no matter how well we treat them. Companies are bought and sold, go out of business, bring previously outsourced work inside, or simply no longer require the kind of work you provide. That’s why we must constantly add new customers. But where do we find them? And how can we do so cost-effectively? Fact is there are a number of ways you can seek new customers by substituting sweat equity for dollars. Here are 4 of them:
Video productions are one of the most powerful forms of communications and a proven sales tool. As a consumer you already know the power of video. And you’re not alone. In a 2011 survey, e-commerce consultants, The e-tailing Group, interviewed 1,039 participants about their video habits. Among their findings:
It’s no secret that, next to word-of-mouth, the Internet is where your potential customers are most likely to learn about your company. One of the most compelling ways to use the Internet is by including video presentations on your site and on YouTube. You can use video to give a virtual tour of your manufacturing capabilities, showcase new technology, interview satisfied customers and much more.