Boosting Sales With Existing Customers: Businesses need to grow to sustain themselves, and acquiring as many customers as possible is the main way to do this. With that, however, can come a decrease in quality customer service if the company does not have the means to scale up.

To avoid this issue, it may be wise for businesses to focus on increasing sales with their current customers. To help, a panel of Forbes Business Council members shared their tips for businesses who wish to maximize their existing customers and grow their revenue in the process.

1. Price Point Testing

One consideration in optimizing existing revenue is to hone in on each unique customer’s spend propensity. Provide them with realistic upsell offerings that they are most comfortable with to increase conversions. If you don’t have enough data to make a clear case on why they should expend more to boost sales, you may need to do price point testing to see what range results in the most engagement. – Amy Bourne, Brad’s Deals

2. Recurring Monthly Revenue Opportunities

Don’t just sell products; sell expertise. In the custom technology integration industry, we look for recurring monthly revenue (RMR) opportunities like system monitoring and troubleshooting. Maintaining and optimizing current systems not only provides steady cash flow, it also establishes an ongoing relationship that puts you in a far better position to capture the customer’s next big project.


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3. Client Partnership

Understanding a clients’ business, listening to them and hearing what they are saying is the key to becoming a trusted partner. When you are a trusted partner, you can create and deliver effective solutions to suit the needs of your client. This will allow them to focus on what they excel at and you to become a seamless and integral extension of their business.

4. Quarterly Touch-Bases

One simple strategy is to create a best practice to meet with your existing customers on a quarterly basis. In the meetings, have a three-pronged approach: seek feedback, as it may give you ideas to improve your products or upsell, seek out new departments or divisions that may not be served and seek out referrals. This three-pronged approach is a fast way to grow existing business.

5. Price Adjustments

Revisit your pricing! With current inflation, it is an absolute must, but always a good idea to review regularly. Pricing is the single most powerful tool for businesses to drive revenue and gross margin. If you don’t have a premium offering, get one! Generally, 20% of your current customers will pay you significantly more than they do now.

6. Product Expansion

Grow their pie. Provide services that expand their world and offer them markets and opportunities they never had before. Help them grow their TAM (total addressable market) in a way that increases their usage of your services. If they are doing business domestically, help them go international. If they are selling through only one channel, help them go omnichannel.

7. Upselling And Cross-Selling

Since acquiring new customers requires multifold spending, it’s wiser to focus on current customers for increasing sales. Once your brand has a significant customer base, you should push towards upselling and cross-selling. Both these techniques will encourage existing customers to try new products or services and it won’t require much effort to deliver higher sales if there is already customer trust.

8. Partnerships

Collaborate with a trusted partner behind the scenes that is able to offer additional support in value or add features to improve customer experience in a trial offer for a longer time period. Utilizing collaboration to get deeper pricing to offer a significant price discount to your customers over others may allow them to see the value in being loyal to your brand.

9. Strategic Direction

Understand some of your top customers’ strategic direction for their own organization. By understanding this, the organization will understand their client’s desires, needs and pain points. As such, the organization can deliver or sell the right solutions to the customer, moving the customer from steady and regular engagement to entanglement with the organization.

10. Intentional Pivots

Acquiring customers is time-consuming and expensive. When I’m running a company, my goal is to make multiple strategic pivots so I can cross-sell additional products and services to the same customer base. My current company offered construction and service. My pivots included adding engineering and energy optimization. Selling more to the same customer base is a great way to amp up growth.

11. Customized Analyses

Business leaders must perform customized analyses of their products to identify ways to double their customer’s usages. For example, increasing the mouth size of the toothpaste container or campaigns for using mosquito repellent in the morning. A much wider range of knowledge about the product and the consumer’s requirements is more important to implement it.

12. Marketing And Advertising

Every business is different but advertising and marketing always work. It’s cliché and simple, but simple is best. It’s always easier to persuade existing customers to buy more or try new products (cross-sell). Some specific strategies to try include loyalty discounts, personal messages and communicating improvements in existing or new products or services.

13. Internal Responsiveness

We’ve taken a long-term focus on process and leadership. The process part is about creating standard operating procedures (SOP), sticking to swim lanes and holding individuals accountable for their part of the process. Internal responsiveness improves from strong SOPs. We’ve delivered better service, streamlined work and received greater client responsiveness, leading to happier clients and more business.

15. Discounts

Ask customers for advice on products or services they have not purchased yet. Turn every customer support call, chat and email into an opportunity for the customer to purchase additional products or services. Give discounts to existing customers if they purchase other products or services. Set up customer virtual round tables sessions where customers get to meet and interact with key leaders in the organization.

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