Which is more appealing, studies have shown that it costs six times more to get a new customer than it does to keep an existing one, and that it’s 16 times easier to sell to an existing customer than to a new one. That makes upselling to your current customers critical to keeping your business in the black. Your existing customers have had a good buying experience with you, so they are familiar with you. If you’ve done your job well, the likelihood of them doing business with you again is a sure thing. Trust and credibility have already been established with you. Now all you need to do is make them an enticing offer. Upselling keeps you relevant to customers even after you solve the problems they initially came to you with, and it makes your business relationship more profitable.
So rein in your marketing efforts toward the client you already have. Keep reading for four tips on increasing sales with upselling.
If you assume that your customers are aware of all of your products and services, you’re only hurting yourself. It’s not their job to assess what they need from your business’s suite of services. It’s yours. So don’t just market new services to leads. Include current customers in your mailing list when promoting a special. Offer your customers the opportunity to purchase additional services your company offers, if they don’t want it they will say no, but at least they have been included in the same offers you give the new guy. Alert clients to the new product you just rolled out. Never underestimate the potential for new business in an old client.
Happy and In It for the Long-Haul
Not losing current clients is too humble a goal. Not only do you need to keep them, you need to keep them happy. And the more you satisfy them, the more likely they are to spread positive word-of-mouth – which in turn will constitute the single biggest way for you to win new customers. Show them how your products actually can accelerate their business. The trust you’ll build by taking the time to educate them will prove invaluable.
Just Checking In
Make it a priority to stay on current customers’ radar, because so much of the upsell depends on your being attuned clients’ every wish or need. Keep in touch to stay in the know about the challenges they face, their changing target audience and their biggest worries as a business. Talk to customers regularly. The conversation should be a low-pressure, sales pitch-free discussion about their problems. Listen to them carefully then identify upselling opportunities consistent with their needs.
An Elephant Never Forgets(But Clients Do)
Remind customers of all your company offers to help their business grow. Write a personal letter to clients in whom you see potential for spending more on your services. Include a list of everything your business offers, with the products they’ve already purchased checked off. It’s a subtle way to show clients that you can fulfill more of their business needs, even ones they might have missed.
NJC Printing provides quality digital and offset printing to businesses in St. Louis, Missouri and throughout the Midwest. Please visit our website at www.NJCPrint.com to learn more about us or to Request An Estimate.