Getting new clients is both costly and time-demanding. According to research, recruiting new clients is 5 times more expensive than retaining existing customers and as per Forbes, between 60 and 80 percent of happy customers never make another purchase. These factors emphasize the necessity of retaining existing consumers over time and encouraging them to make repeat purchases, increase their AOV (average order value), and use their opinions to attract new customers through word-of-mouth marketing. 

One of the most effective techniques to increase sales is to strengthen your existing customer base. Account management and operations teams at your firm are important for making this happen. If they aren’t functioning at their best, competitors will be able to take advantage. It’s like pouring water into a bucket with a hole if you’re looking for new sales without solid account management and operational teams. Identifying and filling the gaps in customer satisfaction can help your business retain existing customers and get new ones.

Businesses must expand to survive, and the most effective method to do so is to acquire as many consumers as possible. However, if the business lacks the resources to scale up, quality customer service may suffer. To avoid this problem, businesses should concentrate on boosting sales with current clients.

Selling more to existing customers is one of the best – and easiest – methods to grow your income and profitability. Many of your consumers are only aware of the things they have purchased from you. Simply informing your clients about the various products in your collection can result in increased sales.

It’s all about relevance when it comes to cross-selling and up-selling. Examine what your consumers have already purchased and provide them with other relevant goods and services that they may find beneficial. Rather than an unwanted sales pitch, they will consider this as wonderful customer service. It’s all about the timing. When clients are ready to buy, focus on cross-selling and up-selling as much as possible at the time of sale. Upgrades, special offers, and free freebies (such as three for two) are all effective ways to get clients to spend a little more.

Now as we have managed to understand existing customers and their psychics behind buying something, let us also try to know if it’s easier to sell to an existing customer?

 

Is it easier to sell to an existing customer?

As discussed earlier, It’s a lot easier to sell to someone or to sell more to existing customers who have already purchased something from you than it is to sell to a stranger. A current customer has already invested in your business and at least one of your items.

He is certainly pleased with his purchase because he is still a customer. As a result, your consumers offer a fantastic opportunity to close some transactions with far less work – and rejection – than a typical cold pitch.

Keeping your presence fresh in their minds is the key to boosting your sales from current consumers. Don’t forget about a new consumer once you’ve sold them something. Contact them a few weeks after the transaction to see how they’re doing and if they have any questions or worries regarding their new purchase, as well as if there’s anything you can do to assist them. And if the consumer has any complaints, you can make sure that they are resolved quickly, leaving them with a positive impression of your business. ​

So far we have tried and understood everything that’s concerned with selling a “little more” to existing customers and if it’s easier to sell more to existing customers. Now lets us have a look at 9 simple strategies you can use to sell more to existing customers!!

 

9 most strategies that you can use to sell more to your existing customers

 

• Researching your market

Market research and analytics can help you find new ways to connect with your current customers. You may focus on who your clients are and what they want by digging deeper into the market you serve.

Some strategies for improving your customer knowledge come from a variety of places, including:

• Conducting market analysis to gather information.
• Surveys, focus groups, and interviews are all good ways to get feedback.
• Listening to what customers have to say on social media.
• Reading industry-related articles and publications.
• Use Google Analytics data to learn about important aspects like Attribution across multiple channels, AOV segmentation based on demographic and geographic factors

Studying your market allows you to deconstruct your existing consumers’ thought processes, common buying paths (journeys), stopping blocks in the customer journey, and even unfulfilled demands that represent possibilities for you to differentiate yourself from the competition.

 

• Being in touch with your customers regularly 

Consumers have many choices, so it’s amazing when they choose your products over those of competitors. However, it’s important to ensure there is still that contact after the initial sale to develop mutually beneficial connections.

It’s all about establishing ties with your customers when it comes to staying in touch. Customers are more likely to buy from you again if you have a solid relationship with them – if they believe in you and your product/service. 

Consider the following factors in your communication strategy:

• the most effective way of communication (email, telephone, hardcopy newsletter, etc)
• What to talk about and how often (monthly, quarterly, event-based) (what your business is doing, market information, tips, and hints, useful resources, etc)
• A forceful sale is not ideal in a “Keep in Touch” initiative. So try to keep it information-based, short, and engaging.

 

• Giving a personalized service

Personalized marketing services, also known as one-to-one marketing or customer relationship management, can be provided to your clients irrespective of the size of your business.

Give your regular customer complete attention, and he or she will likely return to your store to buy your goods and services regularly.

As you focus entirely on your client, make sure you establish a friendly environment in which they can openly disclose business-related information that you can utilize to better serve them or contact them the next time they visit. The more your consumers feel that you’re providing them with personalized service, the more likely they are to purchase at your store for a long time.

 

• Providing them loyalty rewards

By rewarding your existing customers for their loyalty to your store, you can boost your sales. When a consumer becomes loyal to you, and you can reward them properly, you are more likely to establish a key bond between your business and customers, improving customer satisfaction and, on your side, increasing sales.

Here are some ideas on how you might thank your customers:

• Provide them with a complimentary product or service.
• Point programs in which each product has a certain number of points, and you reward your customers when they reach a certain number of points.
• Sales promotion strategy in which you give the fourth item free if your client buys three of the same kind.
• Regular clients get lower rates.

 

• Providing timely responses

Responding to customer issues indicates your company’s desire to meet and exceed consumer expectations. Customers will doubt your loyalty if you don’t answer correctly and soon.

This is true at all levels of your business, not just for the customer-facing teams. However, being responsive is only one-half of the equation. The other is to inform the consumer about what has been done to meet their need or problem.

 

• By Upselling and cross-selling

Upsell and cross-sell opportunities arise with existing customers.

You’ve already gotten beyond the most difficult part, which was making the initial purchase. You’ve built trust and begun a connection, and the customer has a positive impression of your company. “What else can I do for you?” is the question now.

An upsell occurs when you encourage a customer to purchase more than they had planned. Consider the following example of an upsell:

You own a pizza parlor, and every Friday, a customer orders a medium pizza. You recommend they get a large pizza so they can have extras for Saturday lunch. You might even recommend that they order a dessert or a soft drink. Additionally, because the customer is a regular at your place, they are more likely to accept the larger order.

Cross-selling is similar to upselling. Instead of purchasing a higher-value item, the consumer opts for a different product or service. Assume you own a salon. You may propose a head massage to a customer who typically gets a haircut, or you could suggest them buy the products you use on their hair like a trimmer for that matter.

When it comes to marketing to existing consumers, upsells and cross-sells are incredibly useful. The more money a customer spends at a business, the more likely they are to return the next time.

 

• Encouraging customers to bring their friends and family

Your strongest brand ambassadors are your consumers but don’t leave this crucial marketing strategy to chance.

• By requesting reviews, you can actively encourage positive feedback from your customers.
• By incorporating simple buttons that allow customers to share their purchases across their social sites, you may encourage them to do so.
• Turn your social media platforms into two-way communication channels to boost engagement.
• Customers who share your material should be rewarded.
• Encourage customers to share images of themselves using your product by running contests on Instagram or other social media sites.

 

• Providing guarantees and discounts

A guarantee is an effective technique for retaining clients who would otherwise leave. You can tell your customers where and how to criticize with a good guarantee, and that criticizing is worth their time and effort. It also shows that you are concerned. A good guarantee is one that is unconditional, clear, significant, easy to initiate, and easy to collect on.

Inquire about products or services that clients have not yet purchased. Turn every customer service call, chat, or email into a chance for the customer to buy more items or services. Existing clients should receive discounts if they purchase additional products or services.

 

• Thank your customers for referring

Finding a means to show gratitude to your consumers for referrals shows them that you appreciate their efforts. It makes them feel recognized, and it reinforces the behavior, making them more likely to refer to you in the future. A thank you can differ from a handwritten card in the mail to a pair of theatre tickets, a coupon, or even a simple phone call.

There are numerous ways in which we may go above and beyond with those who already purchase from us. Make this a priority in your marketing efforts, and you’ll quickly reap the benefits in the shape of more referrals and sales.

 

Conclusion:

We hope you found this post to be informative. This is a vast subject, and we’ve only touched on a few strategies that you can use to sell more to existing customers where most of them would definitely work!! So use these strategies as per your business ideas and make the most of them!! We’d love to hear your thoughts and suggestions.

Meanwhile, you can also join our Internet Moguls Of The World School, where we help you to set yourself up for success, learn the key digital business concepts to thrive, and build an online business so that you can have more time for your family, more peace, and more financial freedom.

You can also follow our Internet Moguls of the World Podcast to learn more about starting your digital venture.

Meanwhile, you can also join our Internet Moguls Of The World School, where we help you to set yourself up for success, learn the key digital business concepts to thrive, and build an online business so that you can have more time for your family, more peace, and more financial freedom.

You can also follow our Internet Moguls of the World Podcast to learn more about starting your digital venture.

Meanwhile, you can also join our Internet Moguls Of The World School, where we help you to set yourself up for success, learn the key digital business concepts to thrive, and build an online business so that you can have more time for your family, more peace, and more financial freedom.

You can also follow our Internet Moguls of the World Podcast to learn more about starting your digital venture.