The activities to acquire new customers is always number one priority for your small business. That’s the fact! However, do you use the potential of existing customers on the maximum possible level? You simply need to sell more to current customers.
Existing customers have already built a high level of trust in your business and in such a way it is much easier for you to sell to existing customers than to someone who not yet have knowledge about your business. On the other hand, acquiring new customers is usually 5-10 times more expensive than retaining existing ones.
Because of that, one of the most important tasks of entrepreneurs is to spend some part of his energy on acquiring new customers who will contribute to the business growth, while at the same time they need to spend another part of the energy in developing more creative ways to sell more to current customers.
Here are some ideas and techniques that you can use in this process.
1. Rethink Your Basic Business Model to Sell More to Current Customers
The purpose of rethinking your business model is to try to find opportunities in certain areas of your business model that can be changed from current transactional relationship to long-term relationship. With the transactional relationship with your customers, they simply come, buy something, and never make again any additional relation to your business. On the other side, with the long-term relationship with your customers in your business model, they will come, buy something, then again buy something, contact your company, come again, buy something again, etc.
If you succeed in implementing this change in your business model you can come up:
- with opportunities for discovering new revenue streams. Often times without looking into the details of your business model with all of its overall environment, you will not be able to see the opportunities that the market already offers to you.
- with opportunities for introduction of complementary products (products that normally go with another one that will simply increase average transaction value among your current customers.
2. Keep Good Relationship With as Many as More Current Customers
Although it is not easy for the first time purchase of your new customers to ask them to give you contact details, there are many creative ways that will help you to succeed in this intentions. If nothing else, anyone who repeats purchase has some confidence in your business, and it’s the real time to start building much deeper relationships with them. Email, phone, letter, social media and many other means for building a different relationship with your customers can be used and can provide you with an easy communication process with your customers.
However, one thing is important: Don’t try to sell immediately, just contact them in a manner without the feeling of pressure for them. Nobody wants pressures.
3. Implement a System of Expected Up-sale to Sell More to Current Customers
This is a sales technique where the seller offers to the customer additional products to increase average transaction value from that one specific customer. The aim of this technique is to get the maximum from each transaction in your business. You can use it by asking a question like:
- Would you like to make your sandwich turbo?
- Would you like to buy this one product to get one-year free technical support?
However, if you want maximum utilization of the up-sale technique you need to make it as something expected. For example, if someone already bought the turbo sandwich it is not expected to get another one but he will expect to have an offer with a drink.
4. Use Promotions Only for Current Customers if You Want to Sell More to Current Customers
You can use promotions for current customers when your sales numbers are att in the highest possible level. This can be a really powerful strategy. Every business has periods of the year, months or days when demand for those products or services are not at the levels where it should be. For example, if you sell seasonal products your sales will climb in the non-seasonal time period. Sometimes your customers simply stop buying from you because of some reasons. However, with one contact with your current customers with the promotional offer you can succeed to increase your sales numbers over such a period of time.
5. Don’t Forget to Present Everything That You Offer to Sell More to Current Customers
Although we live in times where everyone hurry somewhere, an attempt to show that you can offer something more than what is the current transaction, is an excellent opportunity to increase the specific transaction with specific customers. You can’t lose anything.
Question: Do you have experience in using these techniques to increase sales for your business from current customers? Share your experience with us.