By Jim Connolly
If you want to increase sales and profits VERY quickly - here’s a question for you:
What additional, valuable products or services ‘could’ you offer to your existing clients; which they would be happy to pay you for?
This is a key marketing question, because selling additional services to an existing client is easily, the single fastest way to MASSIVELY increase your sales and profits!
You already provide a GREAT service to your clients and they trust you. This means that buying an additional product or service from you is a VERY easy decision for them to make. There’s no risk attached because they already know how great you are!
For example
One of the people on my 12-month marketing program came to me because he needed to quickly and dramatically increase his turnover and profitability. His company provides IT maintenance services to around 120 local, small businesses. I suggested he find another service to offer these existing clients - before thinking about winning new clients. He said that a few of his clients had asked him if he provided an on-line data back-up service; which he did not. So, he got a price to see how much it would cost to provide the service and found that he could make an average profit of around £500 a year, by offering this service.
I sent out a well crafted marketing email to his clients for him, and in 48 hours this generated £21,000 of pure profit for him! By adding another three services, I was able to increase his turnover by over 200% in just 7 weeks!
Before you spend a penny seeking to win new business from new clients - make sure you are not missing out on a windfall profit opportunity from within your existing client base!
Not only does offering a wider spread of services to your clients make them more profitable to you, they are also far, far less likely to leave you for another provider - if you are successfully servicing a number of their businesses needs.
This means you not only boost sales and profits very quickly - you also improve your client retention too!
Filed under: Business development, Marketing, small business | Tagged: increase profits, Marketing, selling existing clients, small business
Thats possibly the most valuable sales information i have found online ever Jim. Thanks.
I have seen businesses that were 90 days away from going broke, who were able to not only turn things around but start thriving - using this idea.
One of the oldest sayings in marketing is; “always win work on your side of the street before driving across town.”
in other words, make sure you maximise the opportunities under your nose before going for the harder sales.
Glad you found it useful Larry - thanks for the kind words.
JC
The stuff in this blog has been really useful to my business. Thanks Jim