A lot of our focus in business is on getting new customers.
We’re always looking for new leads, new opportunities, new clients.
What we often don’t recognise, is that our biggest asset is sitting right under our nose, just waiting for us to see it.
I’m talking about your existing customer base.
You’ve probably heard that acquiring a new customer is far more expensive than igniting a repeat sale.
So let me ask you -
Are you currently leveraging your client database to maximise their lifetime value?
Or are you letting them sit in an email list, forgotten and covered in dust?
Do you regularly educate them on different things you sell?
Do you show them how they can engage your services more often?
Do you regularly offer add-on services for different client segments? (This one is huge)
If you’re not re-engaging with your past clients and customers on a regular basis, you’re leaving money on the table. And you’re working way too hard (and spending too much) on front-end customer acquisition activities too!
So I’ve put together a quick list of 6 ways you can leverage more from your list
- Educate your clients - Tell your past clients about other things you offer \ other ways to buy from you. Let them know via EDMs, social media, phone calls, whatever medium you like.
- Special Offers of the Week - Advertise an offer each week or month to your existing clients. Put a sign in-store, email your list, run FB ads, just get in front of them!
- Offer Referrals - Rewards cards, refer-a-friend incentives (for both the referrer and the one referred), ask for referrals during your ‘wrap up’ phone call, etc.
- Form Partnerships or Joint Ventures - Approach other industry players who offer a complementary product or service to you, and do a deal where you both offer services to each other’s list for a commission of the sale.
- Allow Memberships - What sort of deal would benefit your clients where they pay a fee to receive ongoing information or services from you? Think web hosting, a monthly service package, and so on.
Implement some of these ideas, and -
Your business will become cash-rich and more profitable
You’ll be able to utilise your existing leads more frequently (which means more $)
Your business will start to grow much faster