Companies in every industry spend enormous amounts of money on marketing to attract
new clients. We have all heard about the ratio that it costs 6 to 10 times more to attract a new customer than to keep an old one yet many businesses either ignore or take their customers for granted assuming they will return.
Existing customers can also be a significant source of new business. An effective Customer Service program can drive referrals and repeat business not to mention the vast opportunities to upsell or cross sell products or services.
Here are 3 strategies to increase sales with existing customers:
1. Create a customer service experience that exceeds expectations. Great customer service is not something that “just happens” through good work. It should be pre-planned and orchestrated so your customer experiences a predictable outcome from your product. Every customers expects to have their needs met. The real challenge is exceeding their expectations so they are so happy they will insist on
telling everyone they know to use your product. Develop a script and process for you and your staff to follow so your customer’s expectations are exceeded every time.
2. Cross Sell. When serving your client suggest complimentary products and services that will add value to your customer’s experience. For example, a hardware store might ensure that the client has all the connectors needed to install a new tap in their kitchen. This not only ensures the client has a positive experience when installing the tap but the store just increased the size of the transaction with high margin products.
3. Keep in touch. Find ways to keep the relationship going after the transaction. Even if a customer is very happy with our product they will eventually start to forget you as your competitors temp them with new offers or by building relationships with them.
Opportunities to increase sales at little to no cost are often right in front of us. Develop a system and plan to maximize every single customer transaction and to ensure your customers keep coming back.