5 Simple Ways to Make Money From Existing Customers
Existing customers are the easiest way to make money. They ensure you never run dry while you are scouting for new customers but this only happens when you understand the right techniques to getting them to pay you more money. The following ways can help;
1. Up-sell and Cross sell to them. For existing customers, you have luckily passed the major hurdle of getting them to initially trust you to give them their money’s worth, now consider more ways to serve them. You can up-sell by getting a customer to buy more (Cost or quantity), You can cross sell by offering them complimentary items in addition to their original order.
2. Keep them abreast on your new products/offerings. Have you ever heard a customer say: “I didn’t know you sold these things oo”? Your existing customers will only know you for what you sold to them so if there is ever an improvement in products or additional services, it’ll be in your best interest to update them.
How to Make Money From Existing Customers
3. Keep in touch with them. Customers are likely to continuing patronage when they sense you building a genuine relationship with them. One way to keep in touch with them? Device the best way to reach them based on your industry and type of customer and most importantly, make sure you are not being a nuisance.
4. Implement Loyalty Programs. Repeated business can be encouraged with a loyalty program appreciating continuous patronage. The program can be anything you are comfortable with; discounts, free delivery, free item after a number of purchases, referral bonus, etc.
5. Actively seek referrals. People trust sources from their friends or family members, capitalize on the trust circle and always request for referrals.