How do you balance time between new and existing customers?

1 Know your customer segments

The first step to balance your time between new and existing customers is to understand who they are, what they need, and how they value your service. You can use different criteria to segment your customers, such as their purchase history, satisfaction level, feedback, referrals, or potential for upselling or cross-selling. By segmenting your customers, you can identify the most profitable, loyal, and promising ones, and allocate your time and resources accordingly.

2 Set clear goals and expectations

The next step is to define your goals and expectations for each customer segment, and communicate them clearly and consistently. For example, you may have different goals for acquiring new customers, retaining existing ones, or increasing their loyalty and advocacy. You may also have different expectations for the frequency, duration, and quality of your interactions with each customer segment. By setting clear goals and expectations, you can avoid confusion, frustration, or disappointment, and measure your progress and performance.

3 Use a CRM system

A customer relationship management (CRM) system is a tool that can help you balance your time between new and existing customers by organizing, tracking, and automating your customer data and activities. A CRM system can help you store and access your customer information, segment your customer base, schedule your appointments and follow-ups, send personalized messages and offers, generate reports and insights, and more. By using a CRM system, you can save time, increase efficiency, and improve customer satisfaction.

4 Delegate or outsource tasks

Another way to balance your time between new and existing customers is to delegate or outsource some of the tasks that are not essential or strategic for your customer retention. For example, you may delegate or outsource tasks such as administrative work, data entry, research, or technical support. By delegating or outsourcing tasks, you can free up your time and focus on the tasks that are more important or valuable for your customer retention, such as building relationships, solving problems, or creating value.

5 Ask for feedback and referrals

The final tip to balance your time between new and existing customers is to ask for feedback and referrals from both groups of customers. Feedback can help you understand how your customers perceive your service, what they like or dislike, and how you can improve or enhance it. Referrals can help you attract new customers who are already interested in your service, and who may trust you more because of the recommendation. By asking for feedback and referrals, you can increase your customer retention and acquisition, and optimize your time and resources.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?