The sales you make in your business are a result of the activity you or…
It would be very unusual for me to speak with any organisation that doesn’t wish to increase their sales. But what’s interesting is that when I discuss generating new business with companies their priority is frequently bringing in new clients via new lead generating strategies. I am of course not knocking this, new clients are the life-blood of a business, but a lot of the time they do not realise that they are already sitting on a potential goldmine – that is their existing clients. business advisor ipswich
It is thought that it takes 6 times more time, effort and money to generate a sale from a new client versus an existing client, food for thought.
I guess it’s obvious really, existing clients (generally) will be significantly warmer, they have bought from you before so have already displayed trust and confidence in you to make a purchase. Hopefully they will also be more aware of your products/services and have some sort of relationship with the team.
So, with clients when we discuss generating additional income, we pretty much always look at existing clients first.
I’m a fan of real-life examples as apposed to theory so here’s a cracker:
A few weeks ago, an existing client agreed that they were not engaging their existing database and should be utilising it to generate new sales, here’s what we did….
- Put together an offer that included a good dose of perceived value
- Made it look pretty and had it converted into an email / PDF
- Split their database into categories and identified which categories would likely respond to the offer
- Put together a simple dashboard to measure the effectiveness of the strategy
- Sent out the first 20 emails
- Followed up the emails a few days later to check understanding and reiterate the features and benefits
So, a bit of work but not rocket science eh?
The very first company on the list were approached……and resulted in a combined service / product order for £55,000! (I realise this sounds too go to be true but I promise that is what happened!).
Now, in the real world that doesn’t happen too often! BUT I guarantee there will be 1,000’s, 10,000’s or 100,000’s of pounds you’ve left on the table with your existing clients and if it’s 6 times easier to go get it, what are you waiting for? business advisor ipswich