Finding new clients and leads is, of course, important. But instead of investing vast quantities of time into lead generation, why not consider the customers you already have? It might surprise you to learn that retaining current customers is actually 6 times cheaper than acquiring new ones. In fact, repeat customers spend 67% more on average. So, how can you utilise your current contacts and customers to grow your business?
Bringing additional value to existing accounts doesn’t happen overnight. Growing accounts takes thought, planning, resources, and time. You will most likely have many complimentary products and services that may interest them, but by customising your upselling strategy for each individual account, you’ll have a much better chance of achieving serious account growth.
Personalise Marketing Campaigns
The data and information you already have regarding your customers is valuable. It allows you to create campaigns that are targeted just for them, provide content that is actually of use, and nurture the existing relationship you have worked so hard to build. It might seem obvious, but tailored messages are much more likely to result in engagement.
Relationship management is vital when it comes to maintaining your connection with existing customers. Good relationships are built on human connection, therefore taking the time to learn what concerns your buyers may have is crucial. What else can you offer, as a business, to solve their problems? By nurturing the relationships you already have, you have a much better chance of securing qualified leads.
Instead of treating all your customers the same, why not try grouping them together according to their preferences, buying history, or industry type? It’s also worth considering the type of relationship you have with them. For example; prospects, existing customers, distributors, and suppliers will demand a targeted, appropriate response. By sending different campaigns to different segments, you can optimise your marketing efforts.
There are so many opportunities to grow and develop your business by simply utilising your current customer database. If you would like to learn more, I can help. Book your free 30-minute 1-2-1 coaching session, or join me for a free half day group session where you’ll get a head start in the critical fundamentals to business success, giving you the opportunity to assess your business to highlight areas for improvement, including lead generation. Book your session online today, or you can call 07388 019 663 or email email@example.com.