Don’t Forget Your Current Customers
When thinking about marketing and growing your company, it can be so easy to focus on new business. Getting in leads and bringing in new clients is definitely important. But it can also be costly. Keeping your current customers and selling more to them can be a far more cost effective way of boosting business. Yet it’s so often overlooked.
If you haven’t thought much about marketing to your current customers, here are a few ideas that might help you boost the business you’ve already won.
The VIP Treatment
You might have a newsletter that you send out, but have you thought about segmenting it so current customers get something different to prospective ones? The more personal you can make any piece of marketing, the better the response you’re likely to get. I don’t mean say “To Lindsay”, I mean actually make it feel like you’re talking directly to each individual recipient in the content. A generic newsletter can only say generic things. It will resonate much more if you segment your customer base and then send out information to people where you’re speaking more directly to them about who they are and what they’ve bought. It sends out the message that they matter and you care.
If you have a big enough customer base, you can even go one step further and tier your clients. Gold, Silver and Bronze, for example, based on how valuable they are to you. Gold customers get all the best offers, the best treatment, get invited to your exclusive events and so on. You don’t have to tell them you think they’re a Gold customer, although some companies are open about their rating. But the more you can think about how special they are to you and find a way to treat them accordingly, the more likely your audience will be to engage with you in return.
Upselling and Cross-Selling
How much do you sell to your existing customers? They’re a captive audience. You’ve already done the hard work. But perhaps they’re currently only buying one or two things from you, yet they could be buying far more? How can you market to them to get them to buy a few extra things?
When you market to brand new people, there is a huge sales funnel to go through. It can take a while before your offering even registers, let alone them actually showing any interest. But the people you currently work with are right there. It can be easier, cheaper and far more effective to sell to people who already know and like you. Have you really explored all avenues here?
This is a well known tactic that really works. Rewarding loyalty not only benefits your customers, but it also encourages them to be loyal even more.
Nectar Cards, Club Cards, Advantage Points, Sparks Cards – they’re all examples of loyalty programmes and they all work. And it’s not just about giving back. You can upsell and cross-sell through these programmes as well. Spend £50 and get 1000 points! The customer might only have £42 of goods in their trolley, but if they add in a few more items they get a huge bonus. From a business perspective it makes a lot of sense.
Is there any way you can reward loyal customers? We all like to feel special and wanted. This is a small but effective way of showing you care while adding directly to your bottom line.
Word of Mouth
It might be that you have a service that people aren’t likely to need more than once and so you think people you’ve already worked with won’t come back. But what about all the people they can influence? Word of mouth and recommendation is a strong element of marketing. At a basic level, how often do you write case studies or ask for testimonials? Then what about “recommend a friend”? A simple reward programme such as this will get your customers doing your marketing for you. It’s not always about selling more to customers, it can be about leveraging the belief they have in you. It’s definitely worth exploring.
These are just a few ideas of how you can do more with your current clients. You might already do a lot of this, but if you’ve never really considered boosting the business you’ve already got, I highly encourage you to do so. It could cost you nothing and deliver big results. Maybe it’s worth thinking about?
If you’d like any more advice or guidance on how you could boost business through your current customer base, please get in touch with us at Lindsay Woodward Marketing.