Increase Cash-flow and Get More Sales from Existing Clients
From Michael Ladd writer and blogger.
Company owners are often trying to find ways to market their company without spending money They want a successful company that’s profitable and offers services and products that people love. Wondering how to generate more sales from existing customers? You don’t have to drop serious cash if you try to focus on increasing your current customers’ revenue. Repeat clients spend on average 67 percent more than new ones Use these four tips to get more sales from your existing clients.
Focus on Lifetime Value vs. Transactional Value.
You can keep clients coming back if you offer them exceptional service. Think along the lines of heavily discounted services. Company owner Chris Zane offers parents who buy their children’s bikes from him an incentive that’s too nice to pass up: He credits the full price of the previous year’s bicycle toward a new bike each year until they reach a 20-inch wheel. This means that he doesn’t make money initially, but parents tend to use his company to buy the necessary accessories for their children and wind up becoming lifelong client. This is a nice example of operating your company in a manner that does not simply focus on a single transaction, but makes high value its number one focus.
Beat the Clock.
Clients are not tolerant of clients that waste their valuable time. Consider becoming a one-stop-shop for your clients’ needs to simplify their day. Everyone appreciates convenience – so when people can stop at one place, or make one call to solve a lot of problems, they’re going to do it. Helping clients do more in less time gives your business a competitive edge.
Appreciate Your Clients.
To increase sales, you must alter your thinking about your clients’ role in the future of your business. Your clients are more than just a mere sale. They actually control the fate of your company and whether or not it succeeds. If they’re not happy with your services, they will have no problem telling other people about their bad experience. You know it’s true; clients can be tough judges. However, if they’re thrilled with your products and services, they’ll tell others about your business. They’ll scream it from the rooftops. Consistently over-perform and deliver great value so your clients know you appreciate their business.
Put a Referral Program in Place.
A referral system gets you new business by continually reminding your current customers that you’d love to add new ones. Create a company that offers rewards to your current clients when they send a people your way. This method earns you new clients, and lets your thank your current supporters. Plus, once the program is in place your current clients basically do the work for you when they spread the word of your company to their friends and family. Keep in mind, a referral from a peer says more than anything you can say about yourself.
As you can see, companies have many strategies available to help promote high dollar sales from their existing clients if they’re willing to think creatively and put in a little effort.
How do you generate sales among your current clients?
Leverage the strength of your current customers’ voices by having them send clients your way.