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I just attended a franchise seminar. The speaker represents a few hundred franchises that (he says) are hand picked. He has the prospect (aka victim?) answer some questions about themselves then he makes recomendations - based on your personality, capital situation, etc.. If you pick a franchise, then he does some due dilligence for you. If you both decide it's a good idea, he helps you get started. He says he offers this service free of charge, which means he gets a commission if he's able to sell you a franchise. Has anyone done this? Successfully? Unsuccessfully?

-- fender

Don't Let Loyal Customers Slip Away

Keeping regular customers can be tough in bad economic times. Here are ways to make them happy and prevent them from straying.

Worth Reading: The Quick Take from Kiplinger

June 2008

Joe Mullich

fuelNet Monthly

fuelNet Monthly is a marketing newsletter published by The Pohly Co. consulting firm and is a monthly contributor to Kiplinger Recommends. "9 1/2 Ways" is a monthly feature of the newsletter. Featured author Joe Mullich, a former editor of Business Marketing magazine, has contributed to more than 20 national publications and has won 25 journalism awards. His work has appeared in Advertising Age, The New York Times, the Los Angeles Times, Think Magazine and Creativity.

The pressures of a slowing economy can cause even loyal customers of a business to shop around for better deals. That can be a huge blow to a small business when cash flow is probably already lean and new business can be tough to bring in.

Besides, it's well worth taking special care of regular customers and to make sure they are satisfied. "It can cost up to 10 times more to land a new customer than to keep an existing one," according to the marketing and customer relations newsletter fuelNet Monthly, a regular contributor to Kiplinger Recommends.

In it's monthly "9 1/2 Ways" column, the newsletter spells out strategies for not just keeping customers content but making sure you know when something goes wrong and that your staff knows how to put a premium on customer service and satisfaction. One suggestion is to survey staff regularly to make sure they understand customer service standards and policy. Another is to hold weekly staff meetings to teach specific customer care issues, such as dealing with an angry and frustrated customer.

But there are creative suggestions for reaching out to customers, too. Send customers referrals, offer them and their friends and business acquaintances your expertise and advice, and consider creating a regular customer newsletter. Don't make it yet another sales tool, though. Instead, pack it with useful advice, tips and guidance related to your business.

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