Cross-selling – Why Existing Customers Are Just As Important As New Customers

When sales fall, most businesses instinctively decide that the best course of action is to go after new customers.

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While logically it’s a sensible call to make, the reality is there are three options available to counteract the fall:

  • Increase the amount of customers i.e. get more customers,

  • Increase the frequency of purchases of your existing customers, and/or

  • Increase the average spend per purchase from your existing customers

However, research shows that it is eight times more expensive to try and get more customers than it is to get more sales from existing customers.

Look at it this way. It’s easier to sell a football shirt to a fan, than it is to someone who doesn’t care about football or, even worse, supports your rivals. You should be selling to your fans who, in this particular analogy, are your existing customers.

If you look at your existing customer base, as well as your current list of products and services, you will be able to identify opportunities to cross-sell to existing customers, as well as attracting new business. You can do this by creating a simple table, with existing and new customers/clients’ needs down the left hand side, and your products and services across the top.

This helps give you a visual representation of what and where you will be able to cross-sell. Simply tick off what you provide to each customer, and at a glance this table will show you where the opportunities to cross-sell or upsell new or existing services to your existing client base are.

In our experience this is often a quick win for clients to grow the business before going out into the market and looking for new customers or the extra resources that can entail.

You may wish to try it for your business.

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The Social Reboot

web-design-serviceAs a marketing expert, I spend my days (and some nights) working to improve the customer engagement, branding, and overall image of my clients.

This is a never-ending job as business and marketing is always evolving due to constant developments in technology, methods, and practices, and I need to do my best to keep up for the sake of my clients.

As a result, the last company I come to address the marketing issues for, is usually my own, and I never really get to practice what I preach with Red Flame Marketing.

However, that’s all about to change as, over the coming months, I’m going to overhaul my online marketing, explaining the reasons for my changes as I go, and turn all of my social media channels into pages that I’m proud to have representing my company.

Most importantly, I’m going to demonstrate how you can apply the same techniques to your business, as well as tips on lead generation, blogs and content, and social media etiquette, as we gradually explore the world of modern marketing.

So, consider this the starting pistol, and make sure you are following Red Flame Marketing on Facebook, Twitter, Google+ and LinkedIn, so you can see the full transformation and the effect it has, as well as exclusive content for users on each page.

Finally, make sure you check back here, as there will be more content on the dos and don’ts of modern marketing and monthly updates on this social media reboot. Meeting regularly to talk about marketing is a good practice to get into, so let’s make this our regular meeting place, as good marketing requires time, effort, and a certain amount of dedication to get right.

Get Our Latest, Free Marketing Tips Here.


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