| ||||||||||
|
Larger Profits through Repeat SalesIncreasing sales with existing customers The biggest mistake most businesses make is working like crazy soliciting a prospect to become a customer, and then forgetting all about them as soon as they make a sale. This is a mistake because in any good business you will make your profits by increasing sales with existing customers. The really big profits in your business are in increasing sales with existing customers. Why is that? Studies have shown that it is six times easier (and a lot cheaper) to sell additional items to an existing customer than to find a new prospect and win them as a customer. This means that the cost to attain new customers is six times more than selling to an existing customer. Because of this existing customers can be lot more profitable by generating repeat sales. Your goal should be to create customers for life. You are better off investing in your current customers and farming new business from them than you are trying to chase down new clients. Implement initiative that will create customers for life. It's a common scenario: businesses spending thousands chasing down clients they don't have while neglecting the ones that they do. The cost of attaining a new customer makes this difficult. The hardest obstacle you have to overcome when making sales is gaining the trust of a new customer. Most people have been burned in the past and the older we get the more cautious we are. On the other hand, if you've already sold something and the customer likes your product, chances are they will want to buy more from you. If you treat them well, you will have a customer for life. Your odds of selling something else to them increase dramatically. After all, they ordered something and you delivered as promised. Your past customers trust you, they know that you are reliable, your products and services are good, and they are willing to do more business with you, lots more business. All you have to do is approach them. iQuantum can give advice on increasing sales with existing customers and cultivating customers for life. Contact us today for more information.
|
| ||||||||
| ||||||||||
