Following up seems to be one of the most important aspects of business, but it’s also something that suffers a lot without a significant amount of systemization. I think there are a lot of opportunities that pass by for companies, especially smaller businesses, because they open doorways and then for various (good) reasons they don’t end up walking all the way through.
Of course there are different types of businesses and there are different types of follow up. So let’s see if we can categorize some of the kinds of people you would follow up with:
- A potential consumer customer
- A potential b2b customer (a lead)
- A consumer who has bought your product
- A b2b customer who has bought your product
- A potential partner who can help your business
Out of this list, I think we already pay a lot of attention to potential customers, be they consumers or other businesses. There are whole lot of SaaS systems dedicated to tracking leads, bringing leads in to a “funnel,” and assigning various follow up to the right staff.
In this sense, the system of lead generation and follow up is a very “solved” problem, and the issue facing many small businesses in this space is a lack of adherence to any given system.
These systems are also readily used for the business development deals where the end goal may not be a sale, but certainly an agreement of some kind.
That leaves follow up with a consumer or business customer who has already bought your product.
This people are really the most likely people to be customers for you again. In the b2b world, a “lead” doesn’t get thrown away once they’ve bought something once, they get pushed up the priority list and hopefully become a long term regular customer.
In some consumer industries, especially where (like in the b2b market) the sales process is competitive and the final product is extremely expensive — like automobiles and houses — there is already a standard practice for customer follow up and retention.
Car dealerships maintain a relationship with you not only through maintenance but in some cases through drivers club memberships, magazines, and other regular mailings. I’ve only bought one house, but the follow up has been very good so far, and it’s definitely going to keep the agent top-of-mind when it comes time to sell the house I’m currently in and find a new one.
Even though the costs of having this kind of follow up in place could be large (staff dedicated to the process, printing and mailing materials, database management, and so on), it’s well worth it if a returning customer brings in, per purchase, several thousand dollars or more.
What if this process could be made more efficient for smaller, consumer facing companies, or for companies with less expensive products, but for whom the returning customer is an essential part of the package? Essentially, what if there was a resource-poor way to increase the lifetime value of each of your customers?
For all I know these services already exist (in fact, it looks like followup.com offers something in this vein, but only for auto dealerships, and a bit ham-handed), but I imagine that being able to sign up for a company that will manage this process for you would be a great advantage. Hand off the contact info, exclusively to be used for these very limited purposes, and allow the company to send various follow-up materials on your behalf that will encourage customers to become repeat customers and even real devoted fans.
How noticeable would it be if you signed up for an online service and received an actual physical thank-you in the mail? What if you got a free ticket to a movie? What if you got something on your birthday?
I can think of a lot of businesses that could benefit from a service like that.