One of the easiest ways of generating more business is to go back to your past customers and sell them something more.
- It is 6-7 times more expensive to acquire a new customer than to sell to an existing one.
- Once a client knows you, likes you and trusts you, it is far easier to continually sell to him.
How do you begin? 
You must know precisely who your customers and prospects are.
Start building a segmented list, one for prospects and another for people who have bought. Find out what each prospect or customer wants, then call or write to them when you have the item ready.
If a shop, ask each prospect or customer to sign a simple register. Give them an inducement for doing so.
Now contact them on a regular basis. By working your list you could increase the probability of making sales by 6 times.
Continuity in Correspondence
Be consistent in your correspondence. Customers will get used to being contacted and if you provide valuable information, they will look forward to receiving stuff from you.
Depending on the frequency of correspondence, don't make an offer each time.
Post Purchase Follow Up
Begin a perpetual communication with new customers to build the impression that you're a trusted friend and advisor.
Within a few days of a purchase send them a letter where you:
- Thank them in a way that lends dimension to your business.
- Resell the value of your company.
- Resell the prudence and value of the product they've purchased.
A letter like this is useful as it:
- Reinforces a customer's buying decision and helps to remove buyer's remorse.
We all want validation that the decision to use a product or service was the right one. - Programs the buyer to expect communication from you and to repurchase.
- Could be used as an up selling tool
Referrals
Generating referrals should be an integral part of your business.
Clients referred to you tend to buy bigger amounts more easily, and will tell more people (as they've been referred themselves, they're used to it).
Make getting referrals a condition of doing business with you.
Say, "My business is built primarily on referrals. I have to deliver value, and if I do this in your eyes, I want you to tell other people who might become clients of mine too."
Another advantage of a referral based business is that you have far less advertising costs. This means you can give preferential pricing to some one who's been referred.
Tell people why referrals are important to you, how to refer and when to do so.
You need to prime new customers that you expect a certain number of referrals if you've done a good job with them.
Rewards and Thank you's
People like to be acknowledged.
Some people will give you referrals just because they like you. Others will want to be compensated in some way.
Set up a referral program where you can give the referrer a gift or special deal in some form. (This is not always possible depending on legislation in certain industries such as Finance.)
Leverage the power of personal endorsments
Work with other businesses who would service the same demographic, but with different products that don't compete with yours. Your aim is to leverage their association with their clients to promote your business.
For instance, your accountant could deal with lots of businesses that could be clients of yours. Create a joint venture to promote BOTH your businesses. This is one example of how you could go about it.
Example: Talk to your accountant
"I was thinking about you. A lot of your clients are like ours. We are not competitors, so how about we put on a free workshop on (a topic you consult in that would be of interest to the accountant's clients).
The invitation would be on the accountant's stationery and say something along the lines of,
"We value your business, so we thought we would invite you to a free seminar on ....., so that you can benefit from hearing about...." etc.
You can decide how to split the costs, or just pay them yourself.
An alternative to a seminar could be sending some information via the accountant that would be useful to his clients. Send them a free book, or tape with no obligation.
Wouldn't you be more likely to read or listen to something that has been sent to you personally from someone you know? This is much more effective than a mass mail out.
There is a triple win here!
The accountant's clients will gain valuable information.
The accountant wins as his clients feel valued, leading to more loyalty back to the accountant and increased business.
You win, as you get known, leading to more clients.
Another successful method is to get together with 4 to 5 other non competing businesses with a similar client demographic and have each one invite 2 clients to a small, informal function at one of your homes. This way, the clients can all mix with each other, as well as the businesses hosting the event, leading to new associations that could turn out to be mutually profitable.
Joint ventures or Host/Beneficiary deals
Form joint ventures with other businesses that have the same client demographic but are not necessarily in competition with you.
Have the other company endorse you to their client list (they already have the trust of their clients), and split the profit on any sales you make.
Does this sound a bit daunting, don't despair, guidance is at hand, send an email to rashid.kotwal@revealedresources, we're more than happy to give you some guidance.
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