Business is strong, your backlog is rising. But in the background lurks the stress to find your next lead. Especially when times are uncertain, like right now!
Without new leads, a business cannot increase its revenues. Right? Wrong!
We all believe companies that depend on one-time sales or projects must constantly seek new leads. This is a huge investment of time and money with a questionable rate of return.
Do you really need to only find new customers? Not at all. Your gold mine is your current customer base.
Do you maintain contact with your customers? Does someone call or email them routinely just to see how things are going? If you are not ‘salesy’, most clients appreciate your keeping in touch.
We all hear of a salesperson calling a customer and learning they need something that your company offers, and they didn’t know.
Existing customers are already sold on you. If you can sell existing products and services or solve their other pain points, their decision to buy from you is a slam dunk! Sales are up, profits are up, marketing costs are not up!
A significant repeat customer base is a huge selling point to buyers. A buyer looks at how risky the revenue stream is. Less risky companies are those with a strong base of recurring customers. A more predictable view of the future from this consistent cash flow results.
A second option is to see what other services and products you offer that your customers may need. Create a list of your customers’ pain points. What products and core competencies and skills do you have that will solve these pain points? Do you have an existing product or service offering to provide? If not, refer them to others who can assist. You’ve created goodwill both with the customer and the referred company.
The adage Give to Get really works.