Making Money: Increasing Sales to Existing Customers
Your existing customers are an excellent source of revenue. With that in mind, you need to ensure that you are maximising your sales from your legion of loyal clients. But, how can this be done? After all, you cannot physically force people to buy goods from you. When it comes to making money in the business world, it’s imperative that you use different strategies to increase your viability and profitability.
Making Your Clients Feel Valued
When it comes to your existing customer base, it’s always easier to re-sell to those people. After all, you already have their details. You don’t have to hit them with the hard sell. Existing customers are the lifeblood of any company. You need to make sure that you have the right things in place to maximise your sales. So, now is the time to make them feel valued. Ensure that you have a CRM system in place. Look at ways to reward loyalty, without eating into your profits. When it comes to increasing sales, you need to ensure that you are looking at your customer’s wants and needs. There is no point hitting them with the hard sell if they are not in a place to buy from you.
In the B2B world, this is imperative. Seek out your clients and talk to them about their needs for your business. Financing equipment purchases and offering vendor finance options can be an excellent way of promoting sales in your business. You can see an influx of sales and ensure that you are increasing your profits. Understanding what customers want and need is important. So, offering different payment solutions can be an excellent form of increasing sales.
Customer and Client Trust
Cross selling and upselling can be seen as a ‘hard sales’ tactic. Avoid this at all costs. You want to ensure that you have a positive working relationship with your clients. As such, you need to harbour feelings of trust. In a competitive market place, customers will always go back to businesses that they have used before. This is especially true when they have received high levels of customer service. Therefore, it is necessary that you build on your existing relationships. Deliver a kick ass service every time and make sure that you create an air of loyalty to your brand.
Act upon Feedback
Okay, you may have had a less than savoury review of your customer service. But, how can you improve on that? Take on board what your critics and clients have suggested and make changes when you see fit. Of course, you cannot act on every gripe. But, if there is a cause for concern, remedy it and thank for the client for making this know.
Keep in Touch
One of the easiest ways to make more money from existing customers is to remain in contact with them. Yes, it’s that easy. If you want to ensure that you are increasing your revenue, make sure that you are at the forefront of the customer’s mind. Dropping the odd email to them is a great way of honing your professional relationships with your clients. A small investment of your time can work wonders in the long term.
