The Best Way To Make More Sales — Sell More To Your Existing Customers

As a business owner or marketer, you know that keeping the sales pipeline full is critical to your success. But getting new leads is time-consuming, requires additional costs, and in general is not an easy task. Luckily, your greatest sales potential might be just hiding in plain sight. Your existing customer list is one of the most valuable assets your business has, since building relationships with past customers you can improve your CLV. And yet, many businesses fail to use it to its full potential. In this article, we will explore how you can use your customer list to find sales opportunities and grow your business.

Table of Contents

• What Is CLV?
• Keep Your Customer Lists Up to Date and Accurate
• Reaching Out to Past Customers with New Product Offers or Follow-up Sales
• Using Personalization and Customization in Your Communications
• Cross-Selling and Upselling to Increase Sales
• Building and Nurturing Your Relationship with Existing Customers
• Conclusion

What Is CLV?

Customer Lifetime Value (CLV) is a metric that calculates the value of a customer to your business over the entire course of their relationship with you. It's used to predict the profitability of a customer and helps guide decisions related to marketing, sales, customer service, and other areas in order to maximize return on investment. CLV combines data points such as purchase amounts, frequency of purchases, the average time between purchases, and more.

To learn more about CLV and other important marketing metrics, read in the article You Are Throwing Away Your Marketing Dollars Unless These Metrics Tell You Different.

Keep Your Customer Lists Up to Date and Accurate

The first step in leveraging your customer list for sales opportunities is to ensure that it is up-to-date and accurate. Customers move, change email addresses and phone numbers. If you are using an outdated list, you are missing valuable opportunities. Maintain accurate customer data by regularly updating your customer list. Use software tools and solutions like customer relationship management (CRM) software to help manage your customer data.

Reaching Out to Past Customers with New Product Offers or Follow-up Sales

Your old customers have already purchased from you and have a relationship with your brand. This familiarity means that they are more likely to make repeat purchases or try new products. Reach out to your customer list with new product offers or follow-up sales, such as refills and accessories. Offer incentives like discounts or exclusive offers to encourage them to make another purchase. By using your existing customer list, you can save time and money that would otherwise be spent on acquiring new customers.

The best way to reach out to past customers with new product offers or follow-up sales is email marketing. To do this effectively:

• Start by segmenting your past customers into groups based on their buying habits, interests, geographical location, etc. 
• Then craft an email campaign that will appeal to the specific needs of each segmented group. 
• Make sure to include relevant product information and promotions as well as any special discounts or promotions you may be offering. 

And most importantly, personalize the message for each recipient so that it resonates with them and encourages them to take action.

Use TruVISILIBILITY's Messaging application to make effective email marketing. It allows you to craft beautiful emails from scratch or using purpose-driven templates, segment your contact list by contact data record, current lifecycle stage, and other criteria, automate routine emails, and conduct A/B testing based on various metrics.

By registering with a freemium account, you get unlimited access to fully functional software free of cost. As your business grows, you only pay for what you use without any contract. A freemium TruVISIBILITY account allows you to:

• Create a chatbot that can conduct up to 100 conversations per month
• Launch email blasts, start drip campaign, etc with 1000 free emails sent monthly
• Send 1000 SMS texts per month
• Build 1 website including a blog
• 1 GB of storage usage
• 1 SSL certificate
• Unlimited API usage

The pricing is very simple; it's based on usage over the free monthly allotment. Thus it is extremely affordable for small to medium businesses. You can adjust the number of conversations your chatbots can have, the number of emails and SMS that can be sent per month, the number of websites you can deploy, and the capacity of your cloud storage. Simple and flexible!

Using Personalization and Customization in Your Communications

Customers are looking for a personalized and customized experience. They want to feel special. Well, who doesn't? Use the data you have on each customer to personalize your communications with them. Address them by name, reference previous purchases or interactions, and suggest products or services that they might be interested in based on their previous buying behavior. Personalized and customized communications will lead to a higher conversion rate and more satisfied customers.

Cross-Selling and Upselling to Increase Sales

Cross-selling and upselling are extremely effective sales techniques. Cross-selling is the practice of offering complementary products to the ones that your customer has already purchased. For instance, if a customer buys a pair of shoes, you could recommend additional items such as socks or shoe laces.

As for upselling, it's when you offer a larger or more expensive version of the product they are already considering. Someone wants to buy a laptop? You could suggest one with higher specs and better features. So cross-selling and upselling can result in higher order value and increased sales.

Building and Nurturing Your Relationship with Existing Customers

To gain long-term loyalty and advocacy from your existing customers, build relationship with them. Use your customer data to send newsletters, communicate important updates, and check in with them periodically. Consider hosting customer events and offering exclusive promotions to show your customers that you value their business. This will not only help you retain customers but also attract new customers through referrals and word-of-mouth marketing.

Conclusion

Leveraging your existing customer list is a powerful way to find sales opportunities and grow your business. By keeping your customer lists up to date and accurate, reaching out to your past customers with new product offers, using personalization and customization in your communication, cross-selling and upselling, and building and nurturing relationships with your customers, you can have a significant impact on your business's bottom line. 

Use the power of your existing customer list combined with tools of TruVISIBILITY's Messaging application and watch your sales grow.