Think you have to go out and drum up new customers in order to increase your sales? Think again.
Prospecting is certainly an important tool for revenue generation, but there are ways to increase your sales from existing customers too. After all, they bought from you once. As long as you gave them a satisfactory product and buying experience, you should be able to use that rapport to your advantage.
So how do you sell to existing customers and entice them to buy again? Here are three simple but highly effective ways for Bay Area marketers to increase revenues from the customers they already have.
1. Bring ‘em back!
Sometimes once-loyal customers suddenly disappear. Revive these lagging customer relationships to increase revenues.
Identify those customers that used to order frequently but who have dropped off the map, and send them a note telling them you missed them. You can utilize direct mail marketing and send a postcard or flyer or put together an email list to contact.
However you contact them, include a survey and ask your customers to fill it out to find out why they disengaged. To sweeten the deal, offer a coupon encouraging them to come back.
Reaching out, asking about their feelings and needs, and providing a good deal lets them know you’re thinking of them and still value their business.
2. Cross-sell and upsell
While prospecting can be enormously profitable, your most valuable relationships are the people who already buy from you. After all, you already have one foot in the door with them. Take advantage of these relationships to cross-sell and upsell relevant products.
The key to this method is timing and value. If you try to sell too soon after a purchase, you become an annoyance. At the same time, don’t wait so long that your customer forgets about their previous experience buying from you.
Make sure the products you market to them are relevant too, such as accessories for what they purchased last, or upsell them on the next best model when something they bought from you has aged.
For example, if you are a Bay Area auto dealer and know a customer’s lease is about to expire on a Toyota Corolla, go to your favorite printing services and send a personalized brochure appealing to all of the benefits of upgrading to a Toyota Camry. This keeps your business in their mind and starts a dialogue about their needs and how you can meet those needs for them.
3. Tap into loyalty
Do you have a loyalty program? If not, why not start one?
These programs encourage customers to maintain their relationship with you based on exclusive and personalized discounts, rewards and deals. If you want to get more creative, offer free members-only promotional products, luxury items, and access to special sales and events.
All of these are powerful incentives that can keep customers engaged with your brand and coming back for repeat purchases.
If you are a Bay Area winery, for instance, ask tour visitors to sign up for a wine club. Offer insider “deals” like exclusive wine tastings and access to lectures from local celebrities. By joining your loyalty club, customers are giving you permission to market to them and keep them in the loop with your products or services, so be sure you have your digital and direct mail marketing campaigns ready to correspond with them!
You can save a lot of time and work when you reach out to pre-existing customers. They are already familiar with you, and that’s half the battle. While you should always pursue new customers as well, don’t forget the ones with whom you already have a relationship.
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GMB: While you look for new customers, don’t forget about your pre-existing ones. You can increase revenue by winning back lost customers, cross- and upselling new products to them, and inviting them to join a loyalty program full of perks.