Your Existing Clients Are Your Best Bet For Finding New Sales Opportunities. Here’s How to Do It.
A 2014 study by Gartner revealed that 80% of a company’s future profits come from 20% of its existing customers.
According to CMO.com, repeat customers spend 33% more compared to new clients.
Should you be looking for ways to drive opportunity with your current client base? Absolutely.
Here are our top 4 ways to drive sales with your existing client base:
If your offerings have changed or expanded, reach out to current customers and let them know about the opportunities. You are already a trusted resource, so in all likelihood they will be receptive to your recommendations.
Don’t wait for them to approach you with new or different needs, or assume that they will. There might be something as simple as an upgrade that they are not aware of that is worthy of a phone call.
Your current client is experiencing success with one or more of your products or services.
Perhaps they have a need for multiple solutions?
Depending on the size of the company, there may be a business pain in another area that was not discussed when they signed on with you.
It is worth a call to find out if there are other departments that are in need of a solution or a different approach to a current business pain.
Be proactive in order to avoid a negative customer experience. Check in with your customers periodically to find out how the product or service is performing for them. There might be issues or problems they are having but they have not yet reached out to you.
Investing in the success of your current customers is not only a good way of doing business, but ensures that they will become a consistent revenue source. Remember, their success is your success.
A service call is more than worth your time to ensure things are running smoothly or to solve any issues they are experiencing.
If the customer is happy with the product, this type of call can lead to an increased investment or referral.
Connections at Industry Shows and Conferences
Take the opportunity to have face time with your current customers at industry shows and conferences. In-person meetings, even for just twenty minutes, will only serve to strengthen your relationship and build long-term loyalty.
Maximize your opportunities at trade shows or conference by preparing for them ahead of time.
Find out which of your current customers will be there and make a definite appointment to meet and talk. Don’t assume you will have the time or just run into them amongst the thousands of attendees, make current customers a priority.
Satisfied Customers Are Likely to be Your Best Customers
By upselling, upgrading, better serving, and scheduling quality face time with your current customers, you ensure the likelihood that you will expand your sales opportunities.
Do you have proven ways for expanding business through your current customer base? Let me know in the comments.