3 Ways to Sell More to Existing Customers
Think you have to go out and drum up new customers in order to increase your sales? Prospecting is an important tool for revenue generation, but there are ways to increase your sales from existing customers, too. Here are three simple, but highly effective ways to increase revenues from the customers you already have.
1. Bring ‘em back!
Revive lagging customer relationships. Identify those customers that used to order frequently but who have dropped off the map. Send them a note telling them you missed them. Ask them to fill out a survey to find out why they disengaged and offer a coupon encouraging them to come back.
2. Cross-sell and upsell.
While prospecting can be enormously profitable, your most profitable relationships are the people who already buy from you. Take advantage of these relationships to cross-sell and upsell relevant products. If you are an auto dealer and know a customer’s lease is about to expire on a Toyota Corolla, for example, send a personalized brochure appealing to all of the benefits of upgrading to a Toyota Camry.
3. Tap into loyalty.
Do you have a loyalty program? Why not start one? These programs encourage customers to maintain their relationship with you based on discounts, rewards, and deals. Sometimes benefits are things like discounts and free merchandise, but especially for luxury items, exclusive access and insider information can be powerful incentives, too. If you are a local winery, ask tour visitors to sign up for a wine club. Offer insider “deals” like exclusive wine tastings and access to lectures from local celebrities.
Need help maximizing your existing customer data? We’ve got great ideas. Just ask!
Without direct mail, customer acquisition falls flat. Sound like a bold claim? It is, but there’s a reason—it’s true. Many direct marketers can attest that, without direct mail, their customer acquisition efforts would be less successful.
What makes direct mail so powerful?
1. It is the only channel that can reach your entire target audience.
Did you know that 6% of consumers in the United States don’t have access to broadband? That 30% of Americans don’t use Facebook? Or that only 83% of U.S. adults have cellphones, and of those, 17% don’t text? Even the best email lists only reach 40–50% of your list. Postal mail is the only channel that can reach your entire target audience.
2. Direct mail lists have lower churn.
People change email addresses frequently, whether through preference or job change. By contrast, people may live at the same address for years, if not decades.
3. Personalization is more reliable.
Data used to personalize by demographic and psychographic can be readily cross-checked and validated. When purchasing or adding to a direct mail list, you can have a high level of confidence in its accuracy.
4. Mail stands out in the mailbox.
It is not unusual for the average person to receive hundreds of emails in a single day. Even the best, most personalized email may still never be seen. By contrast, with consumers’ mailboxes less full than they used to be, well-designed direct mail pieces jump out and command attention.
5. Direct mail is visually compelling.
HTML email utilizes many of the benefits of graphics and personalization, but direct mail offers a level of tangibility and visual appeal not available in any other channel. People respond to the richness of color, the depth of imagery, and dimensional techniques such as coatings, dynamic folds, and eye-catching die-cuts.
Customer acquisition is critical to your business. To achieve success, you need the right tools. While going multichannel with print and digital marketing is a “must have” approach, direct mail remains the most predictable, effective way to reach the widest number of consumers. Don’t miss out!
Keep the Conversation Going!
When do you engage with your customers? Is it only when you want to sell them something? If so, consider extending the conversation. Customers are more loyal when they feel that you care about them personally, not just the bottom line, so here are three ways to keep the conversation rolling.
1. Touch base . . . just to touch base.
Send personalized notes and postcards at critical anniversaries. Celebrate customers’ birthdays, but also significant business relationship anniversaries, such as the date someone first becomes a customer. Some companies make these touches by email, but personalized cards and letters have far more impact. There is something more powerful about a beautiful personalized message that arrives in a printed envelope than “Happy Birthday!” in an 8-point subject line.
2. Provide valuable information.
If you continue to receive real estate postcards even after you’ve purchased a home, it’s not that your realtor forgot to take you out of their database. It’s part of a growing trend of long-term customer retention that all market verticals can learn from. Realtors often send postcards every few months or at the change of seasons. They might offer suggestions for improving the curb appeal of your home, tricks for spring decluttering, or ideas for winterizing your garage. When your friends are looking for referrals or when your children are looking to purchase their first home, they want to be the first one you recommend. Maybe they are onto something. How could you use this strategy to your advantage?
3. Don’t let them get away.
Do you know when customers are starting to fade away? Maybe they buy fewer products from you, or maybe they do so less frequently. Perhaps they stopped engaging on social media or changed their email address and didn’t re-up with your newsletter. Pay attention to which of your customers remain engaged and reach out to those who are not. This allows you to re-engage lagging relationships before it’s too late. Once a pattern of non-engagement becomes entrenched, it’s much harder to change.
Everyone wants to be noticed and cared about, and your customers are no different. Love your customers beyond the sale, and they will love you back.