It's always important to grow your business, and often you focus so much on acquiring new customers that you overlook the possibility of increasing sales with existing customers. Reaching out to current customers can often boost sales faster and easier than reaching out to new prospects. Building upon existing customer relationships is one of the most effective ways to increase revenue from them. You may discover you need to offer additional services to an existing customer without even realising it. This blog will discuss how to increase sales and market to existing customers.
Tip 1. Continual Engagement
Your customer's interest can be maintained by updating them or providing information to improve their productivity. If a customer has contacted you, send them an email with a special offer based on past interactions. Those who just bought your product should receive a thank you note with helpful information and related add-ons. Send targeted messages to your customer based on their profiles and purchase history to educate them on services they may be interested in. These small efforts can tremulously improve customer service and engagement.
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Tip 2: Market Research
Your current customer base can always provide you with some leads. Market research aims to pinpoint customers who require more solutions than you offer. Your current market needs can be determined through surveys, email outreach, focus groups, and interviews. Take the time to read reviews, comments, and other brand mentions across all social media platforms to understand what customers want. To uncover more opportunities, analyse your average order value and segment based on demographic and geographic attributes. Look for upsell opportunities throughout your customer journey, whether pop-ups, related items on product pages, or email automation series to educate customers about new services. Analyse how you can further serve your existing market with additional products and services.
Tip 3: Potential Problem
A personalised experience can be tailored to customers who tend to spend more. It might be worthwhile to poll or survey your customers to understand their needs better. It is possible to identify customer demographics using past purchases and analytics and then address specific problems customers seem to experience. Are you losing customers to competitors? Examine your competitors' marketing offers and services to see how they are attracting customers to them. Use Google Analytics to find out where customers come from and what services they're clicking on the most on your website. By comparing both data, you can determine how to customise their experience and potential problems they might face.
Tip 4: Reward Customer
Many companies offer loyalty programs where customers receive rewards for spending more with them. Membership benefits may include discounts, exclusive releases, or special offers. Your loyalty program should engage them and reward them for more purchases while speaking to their interests. Furthermore, you can offer referral incentives to your customers.
Tip 5: Cross-Sell or Up-Sell
Is there anything else you can do for your customers? Don't miss this chance to show customers what else they may like. A great way to accomplish this is to offer an incentive or a discount for purchasing more. By upselling and cross-selling, you can maximise your investment and make a profit. Don't waste your existing engagement; you would be wise to nurture it further as you have already worked hard to find and sell to your customers.
Final Thoughts
Your product needs to be refreshed or eliminated?
Whether sales have dropped or some products have stagnated may be due to the product becoming outdated or a competitor's product offering more benefits to your target market. Your existing customers can provide insight into what products and services are in demand, what new products you should offer, and what products you should discontinue. Assess the low-selling products to determine if they are burdensome or if they could be revived with a few fresh additions to attract new sales. Be sure to check reviews or survey customers before updating your product. Surprised by how much more sales you can generate with just one slight adjustment.
You will enjoy immense growth opportunities if you partner with the right service provider. Get a better start with Zooloo. Our team is happy to assist you with your journey towards digital transformation. Please contact us at sales@zooloo.asia.
- Discover more about Customer Engagement Strategies
- Find some tips on e-Commerce Strategies
- Looking closer at e-Marketplace Strategies
- Read about The Digital Transformation Journey
- Learn more about our “Digital Backbones”
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