If you want to make more money for your business, it might be a good idea to look at your sales and marketing methods, and concentrate on increasing customer value, instead of reducing your prices or going after new customers.
There are various ways that you can improve your marketing and sales funnels that will encourage your existing customers to buy more from you. After all, keeping your current clients is a lot cheaper than getting new ones! Read on to find out more.
1] Check your sales funnel
The first thing you need to check is whether or not your sales funnel is working as effectively for your existing customers as it is for new ones. It is not enough to just establish relationships with your potential clients; you also have to maintain them.
You have to ensure that you are engaging with your customers through your marketing funnels, instead of just trying to sell them. Remember that reciprocity and a good relationship are worth more than a professional sales pitch in many cases.
Some good customer relationship management software, such as Copper, can help you to analyze data to see what is working and what isn’t so that you can amend your funnel accordingly.
2] Gather testimonials
Even now, many people still will not trust a website until they have read reviews on social media, Google, and review sites such as TrustPilot. Encourage your customers to leave reviews, and display testimonials on your social media and your website.
This will help you gain trust and will increase the likelihood of further purchases. If someone leaves a negative review – and it does happen once in a while, even to the best of businesses – keep it there but respond as soon as possible in a professional way, detailing how you have or intend to put things right.
Sometimes how you are seen to be dealing with any issues is just as important, and your customers will respect you more for being honest.
3] Add surveys and questionnaires
It is essential that you get to know your market and show that you care about the people who engage with your business. You can add surveys and questionnaires in your sales funnel, so you can show that you care about what your customers need as individuals and that they are not just another number.
If you can encourage people to engage with your brand, they are much more likely to remember you next time they need the service or product that you are offering.
4] Think about what makes you unique
From the very beginning, you need to develop your brand image and identity. After all, even in the most niche of markets, there is bound to several other companies selling the same things as you.
By finding your unique voice and sending out marketing and messaging, which is consistent with your brand, you will develop a recognizable identity that your customers can connect with.
5] Upsell where possible
One of the most straightforward ways of increasing the amount of money your customers spend with you is by implementing upsell offers. If you already have a product or service, think about a way you can add value and get people to spend more.
As an example, if you are selling electronics, you can add an extended warranty scheme. If you own a computer shop, you can offer ongoing technical support for a monthly fee and create a residual income. If you are selling children’s toys, see if they need batteries to go with them.
6] Exclusive customer offers
As we mentioned above, building customer loyalty is incredibly important, and one of the best ways you can do this is by bringing in a membership program, discounts, or loyalty scheme. Think about rewarding early adopters and lock them into a low price, even if you are going to raise your fees later on.
Perhaps they can have a stamp card or loyalty card, so that every six purchases or so, they get a free product. Reward their loyalty, and they will come back.
7] Treat your customers with respect
It goes without saying that the most important thing of all is treating your customers with respect. This will have a huge impact on how much they spend, and, if you make them feel valued and supported, they will come back for more and recommend you to their families and friends. Show your appreciation all the way and treat your smallest customer as if they were the biggest.