One of the best ways to ensure your business’ success is by focusing on your existing client base. Contrary to popular belief, aiming for new business, clients, and products is not going to lead to overnight success. Keeping your current clients happy is even more important for your business.
Increasing sales from your existing clients are one of the simplest and most effective strategies to drive sales. That’s because it takes less time and money to sustain current clients than it does to acquire new ones. You are already in a relationship with them after all.
For new clients, there is no guarantee that all the effort you put forward will yield any results, let alone beneficial ones. So a focus on your long-term relationships with your current clients is a good idea.
Here are six ways to increase sales from your existing clients:
1. Talk to them!
Find out what your current client base likes about your products or services, and also find out what changes or additional things they would like to see. This gives you a clearer idea of what you should improve and what should remain the same.
This research, combined with analytics from your website and social media platforms, will open more opportunities and a way to connect with your clients more effectively.
Here are some strategies on how to do research on your current clients:
- Conduct surveys and interviews
- Analyse social media engagement across platforms
- Gather data on your client’s journey
- Take advantage of Google analytics
In order to better understand your existing clients’ thought processes, you must first understand your market. This means knowing what their client journey looks like, the setbacks they might encounter, and how you compare to the competition.
By getting to know your clients, you will be able to provide better offers or even design new items based on the knowledge you have obtained about them. This will ultimately lead to an increase in sales.
2. Reward Their Loyalty
Customer loyalty produces higher conversion rates. Existing clients convert at a far higher rate than new clients. The typical conversion rate of a loyal client is 60% to 70%, whereas that of a new client is 5% to 20%.
Your clients are your company’s supporters! In turn, recognise and reward those who are loyal supporters. Give out freebies or incentives that your clients will surely appreciate. After all, it is always nice to receive something for free.
Your small business will gain an advantage as you can create more personalised sales and loyalty programmes for your clients to make them feel special. In the future, they will be more likely to return for more purchases and hence, increase more sales.
3. Never take them for granted
Just because you are already someone’s preferred brand does not mean you can proceed on cruise control with them. It makes sense to follow up with existing clients on a regular basis.
Current client marketing should be low-pressure. You’ve already won the client’s business. Now all you have to do is keep talking.
Marketing automation software, like HubSpot or Marketo, helps manage client connections over time by sending tailored messages based on previous interactions. By using these marketing automation tools, you can send custom messages to update your existing clients about a new service or product, and notify them about sales and promotions.
Alternatively, when adding a new product linked to past purchases, emphasise the new product’s fit or superiority to the client’s existing purchases. If other clients have issues with a product, send workarounds to all previous clients.
Don’t stop there. Update your existing client base’s contact information that can be used in future communications. Make use of email, phone conversations, and social media to gain this information. That being said, don’t waste the opportunity by pestering your clients until they opt-out.
4. Find out what they like
The personalised nature of your contacts allows you to learn what each client wants from your business. It is then up to you to meet those demands.
When connecting with your existing clients, add a personal touch. For example, sending individual thank you notes when a client makes a purchase, goes a long way towards creating a relationship.
Always use the client’s name in emails and phone conversations. Personalising communications to the needs and preferences of clients is simple with internet platforms that deliver targeted messaging to groups of clients.
When a client requires assistance, provide one-on-one assistance. Take advantage of call centre automation software and AI/ML, for providing client assistance to address client needs, answer questions, and provide feedback.
5. Make them an offer
Many business owners who are striving to grow their sales concentrate their efforts on obtaining new clients while disregarding opportunities with existing clients.
Look for opportunities both in the office and out in the field, without incurring the additional costs involved with new client acquisition. Consider how you may assist the buyer in obtaining more of what they desire by allowing them to purchase additional items that complement your product.
6. Give them a service-oriented team
While delivering exceptional customer service isn’t enough to raise revenue from existing clients, providing poor customer service is a surefire method to lose clients – for good.
To discover how to boost income with existing clients, you must get everyone in your company on board. Set management practices that reinforce your goals by rewarding employees who excel at providing great client service. Let employees know the importance of establishing long-term relationships with clients.
Encourage workers to take care of existing clients to create a service-oriented environment. Train new employees to assist clients and create a procedure for managing complaints.
When your workforce concentrates on providing excellent service, you wind up selling more to existing clients and maintaining them for a longer period of time.
Increasing sales and growing capital are at the top of the list for any business. The best way to grow revenue is through understanding your market and appealing to your already loyal clients. Who knows, they might just tell their friends about you!
Remember this quote from Jeanne Bliss: “Customers who love you will market for you more powerfully than you can possibly market yourself.”