Increasing your sales the easy way
Everyone knows it costs more to win a new customer than it does to keep a current one. The ratios quoted vary but the principle is still the same.
Based on this fact and you’re desire to grow your business, the best route to new business is by marketing to your customers. The question is what more can they buy?
When was the last time you did a review of your client base to understand their buying habits; the products they buy and how frequently?
Let’s imagine your average customer buys two products/services from you. If you can get just 25% of them to buy one more thing, you will have increased your business performance by more than 12% – not bad growth in a country that is reputedly just coming out of recession.
The harder bit is understanding what products would be right for them and then showing them how it will solve a problem they currently face. There are two sets of people within your company who can help you here:
- Your account managers
- Your operations staff
And it may be that your Operations staff talk to your customers more than your account managers, so don’t under-estimate their ability to help here.
- Make sure that everyone within the company knows what you want to do, so they have the opportunity to contribute. If your accounts/sales staff are on commission, make sure your Operations staff will get something from this. They may be less helpful if they think someone else will get rewarded for their work.
- Analyse your sales patterns and your portfolio penetration levels so you know what is already being bought by whom.
- Develop the right stories to show your customers how you can help them.
The thrill of the chase comes with acquiring new customers, but marketing to your customers will help keep them and sell more to them.
Of course, if you would like some help with any of this, call or email me on 07770 970 557