The easiest way to increase your revenue is by selling more to your existing customers.
Let me be 100% clear—we only sell more to people if it truly serves them. This has to be said and it has to be followed.
Selling more to your past or existing customers is easy because they already know you, like you, trust you, and you already have their contact information, right? Please tell me you have their contact information.
It costs you time, money and sometimes a lot of patience to “buy” new customers, but selling more to your existing customers is much easier (and more affordable). Here’s an article on just this subject.
Let’s do this! Here’s how to sell more to your existing customers:
- TRACK EVERYTHING! Review who has purchased and when their last purchase was to find your retention rate. Identify opportunities like those listed below to serve your customers better. Track things like retention rate and assign them as Key Performance Indicators (KPIs) so your team is committed to improving those numbers. *Remember that your leverage comes from having accurate data to use, so make sure the person(s) responsible for entering the information is clear on how important it is!
- Contact customers who have not returned in a certain time period, tell them you have missed them, ask them for feedback, and offer them something special.
- Contact customers after the normal period in which they would need to “refill” their product or service and offer to do it seamlessly/easily for them.
- Identify all of the products or services your clients have NOT purchased and offer those to them. If you don’t have complementary products or services, do your research and analysis to find out if it is smart for your company to do this.
- Remind your clients of all of the benefits and value you provide to them by sending out very valuable free content/information for them to use.
- Ask for feedback periodically—this shows that you care and want to improve for them!
- Increase your prices! Even if you want to take the easy way out and increase prices only for new clients, this will make a huge difference for you.
These are just a few brief ideas to get you going on selling more to your existing customers. I know your creative, amazing, entrepreneurial brain will have a million more! Just make sure to track your results so you know what to keep doing and what to stop doing! This video will illustrate a few of these points and give you some more ideas:
If you need more help to find ways of selling more to your existing customers, contact TMH Business Coaching and Consulting today for a confidential, free, no-obligation consultation to propel you forward. Also, please feel free to add yourself to our weekly coaching tips email!