Blog
Marc Forbes
To increase revenue from your current clients, you need to make them feel special. You can also provide them with content that will be of value to them, and you will see the revenue go up.
However, the key is not just about giving your current clients what they want. You also need to give people what they don't know they want.
I have four key strategies to help increase your individual spending from each customer.
Loyal customers spend more money than new customers. This is because they are more likely to buy from someone that they already know and trust. In an industry where it is difficult to acquire new customers, customer loyalty is extremely important.
There are many ways that a business can increase customer loyalty, but the easiest way is through customer service. Customer service should be personalised to the customer so they feel like they are being taken care of on a personal level and not just another number in the system.
One way to increase revenue from your current customers is by up-selling. Up-selling refers to the process of persuading a customer to purchase an additional product or service.
For example, you might have a customer who has just bought an item for $10 and you would like them to buy another one for $5. The value is there, you get the extra sale, and the customer gets a deal. Make sure they upsell offers value. Often, the upsell is a quick decision on the buyer's behalf, so make sure it’s tempting.
Are you in a competitive business where the client has lots of options? Can you make sure they use your business rather than the competition?
Maybe trying to bring them back with some type of incentive or reward. The old stamp-a-card works great for coffee shops. Is there something similar you might be able to implement in your small business?
Remind your customers that you exist with a marketing campaign. It could be an email blast, a text message, or even a phone call. Keep them up to date with any discounts or new offerings you might have.
Customers tend to forget about brands after a while. By keeping in contact with your customer base through these marketing campaigns, they are more likely to continue purchasing from you!
