October 08, 2016
Leverage your existing customer base to generate more profits.
By Maureen McCabe
Growing your business should not focus exclusively on attracting new customers with your marketing tactics. Another key element of your marketing plan should be aimed at getting repeat sales from your existing customer base.
Loyal customers who are already familiar with your products or services can become your most predictable and reliable source of new revenue. Overall, it costs less to sell to these customers than it does to attract and sell to new customers. Here’s a look at some of the creative ways you and your sales team can learn how to increase sales from your existing customers.
Already active and profitable customers are especially valuable. Though they may only make up a small portion of your customers, they could be bringing in the majority of your revenue. Increasing sales from these clients requires you to establish a sense of loyalty to your company. Retaining profitable customers can involve offering them special deals and offers, sending thoughtful gifts and enrolment in loyalty programs. Making these clients feel special is an excellent way to retain them and turn them into advocates for your business.
Reactivating Older Clients
Leverage your current list. You likely have a list of customers who were once frequent purchasers, but you haven’t experienced any sales from them recently. One strategy for increasing sales from these existing customers is to reconnect with them.
Try reaching out to these inactive customers. Do not try to sell to them just yet – instead, try sending an email or a phone call that offers them real value, like an idea to boost their sales, or sharing a resource they might find valuable. Invite the customer to an event, or inform them of an upcoming offer to reactivate them as a client. The key is to associate your brand with valuable information so if a need for your products or services does arise, you will be the first company they think of.
Staying in Touch
A good relationship is essential to increasing sales with your current customers. While starting conversations with new customers involves promoting your reputation, skills and quality of your products or services, selling to existing clients does not involve any convincing – they already believe in your company’s stellar track record of results. If you are wondering how you can increase sales from your existing customers, consider setting up a regular newsletter that will keep your company top of mind. You may also wish to make a point of calling your high-value customers at regular intervals just to touch base and see if you can help them in any way.
For more great tips on developing customer loyalty and marketing to your current clients, contact us for ideas on how to grow your business. We can help you develop a strategic marketing plan and share with you how to increase sales from your existing customers.
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