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Increasing Sales from your Existing Customer Base

“It is infinitely easier and always more profitable to work at increasing the purchasing of your satisfied customers, than it is to go out and add new ones.”     Dan Kennedy


There are various reasons why it is important to concentrate on increasing sales from your existing customer base:
  • It costs money to establish new customers and incorporate them in to your system.
  • Existing customers cost less to service, because you are more likely to know and understand their requirements. With a payment track record, they are also less of a credit risk.
  • Because they trust you they are likely to buy more often, and to buy more expensive products or services.
    If they see you as their Trusted Adviser, they are more likely to refer others to you, becoming advocates. Word of mouth is the most powerful form of promotion.

Below are some ways in which you can increase sales from your existing Customer Base:


  • Building on the Ideal Customer

    Take a market segment you service, for example lawyers. Look at your best legal client and analyse the products or services you sell them, the volumes, values and timings. Repeat with the other law firms you service. Adjust for the comparative size of each firm and look at the gap between the sales of your best client and the others…. this is your potential sales gap.

    Matching product or service to business

    Brainstorm with your team (if you have one), and discuss what you know about each business. You may be surprised at the cumulative knowledge you have. Develop a specific targeted proposal and approach for each client.

    Market Research

    A great way to maintain contact, or stay in touch with your customers. This alone may attract new business. Good Market Research will be a Sales Tool in it’s own right, and challenge the customer to really think about their needs and objectives.

    Build in regular contact

    Any contact with your customer builds relationships and is a potential Sales Opportunity. Consider advising new and existing customers that you will contact them on a regular (not necessarily frequent) basis. Build this in to your Proposal or Quotation and market this as an advantage. 
    Use this as an opportunity to build trust by not always trying to sell something, but just seeing how they are doing.

    Many business owners are uncomfortable with `bothering` their existing customer base and do not wish to be too pushy. This is commendable but it is worth changing the viewpoint to one of offering a superior, personal and non invasive customer service.

    Keeping in touch or getting back in contact, and then highlighting how you may be able to further assist your customers, if done correctly, need not pushy and overbearing..........It is good selling!

     

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