Small Business Multiplier – Module 10: Getting clients or customers to buy more, and buy more often
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This page allows you to preview Module 10 of the Small business multiplier. So far in the programme we have mainly been looking at how to find new customers – however, that’s just one lever of the Small Business Multiplier. In order to grow your business and increase your profits effectively, you should also try to make your existing customers spend more money with you, and more often. In this module, we’ll look at what techniques you can use to achieve just that.
The module video is shown below, and below that a link to a preview version of the module PDF. If you have any questions about this preview, click here to get in touch via our contact page.
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Having looked at eighteen ways to generate new leads and how to effectively convert them to profit or clients or customers. I want to focus on something that many business owners seem to overlook.
Stop and think for a moment, if you wanted to buy some new clothes, or maybe a new pair of quality shoes, would you look randomly at a number of stores or suppliers you’ve never dealt with… or would you go back to a trusted supplier that has served you well in the past?
My guess is that you’d probably chose to go back to a trusted supplier. Now think about it from that suppliers point of view. Do you think it is easier for him or her to target brand new customers, or engage more regularly with experienced, proven customers?
The answer is simple. It's easier and more cost effective to sell to existing customers or clients than to go and find new ones.
So let's focus on how we can get customers or clients to buy more. We can plan to do this and there are techniques that have proven to be very dependable and successful over the years.
We call this up selling or cross selling and its an effective investment of sales effort because they already demonstrate that they now like and trust you, having bought from you in the past and enjoyed the products or services you supply.
See what you think of these ideas and work out how you're going to apply them to your own reality.
Next time we'll focus entirely on the fourth lever of the Small Business Multiplier which is reducing your operational costs.