Business growth: The simplest way to add 10% to your bottom line

Finding new sales is important. But generating repeat sales and increasing customer value are critical success factors in maximising business growth.

The most successful businesses growth strategies all share one common feature.

They understand that the biggest and most profitable new business opportunity is with their existing customers.

Yet most businesses continue to focus on:

  1. Chasing new customers instead of looking after the ones they have
  2. Focusing on sales rather than the lifetime value of their customers
  3. Underestimating the value of repeat sales
  4. Failing to understand their customers needs

Of course you need to generate leads and find new prospects to talk to, but your existing customers are warm to you, more likely to buy again and provide recommendations that will open more doors to new prospects and create even more business growth.

What would 10% growth add to your bottom line?

Forwarding is all about service and people. It’s probably what you talk about when you’re selling.

So; if you do a great job with the first shipment, that customer is more likely to stay and buy again.

It takes a lot of time, money and effort to find, nurture and convert new customers, which is why repeat purchases are so much more profitable and effective for boosting business growth.
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Less effort and more sales.

Sounds utopian. But it is unarguably the least risky growth strategy and simply MUST NOT be ignored.

It is critical that you take the time to gain a true cheap doxycycline no script appreciation of the supply chain challenges that your customers face, so that you can help them achieve their objectives and make multiple repeat sales along the way.

This increased level of understanding develops trust, which strengthens your relationship and ultimately makes your customer less susceptible to competitor approaches.

Business growth: HOW TO GET MORE FROM EXISTING CUSTOMERS

Objective:

  • Soft: To move from service provider, to value-added provider and true business partner.
  • Hard: The specific revenue you wan to add to the bottom line

Account development process:

  • Define likely opportunities
  • Allocate ownership of accounts
  • Engage informally with current contact
  • Uncover and identify supply chain needs
  • Match solutions to needs and stress benefits
  • Elevate contact to director level, for strategic insight

Support activity:

The challenge is to ensure that ALL your customers are informed about ALL the things you can do for them.

  • Greet new customers with a Welcome Pack that details all your services
  • Use eShots (with good content) to remind them periodically what you do
  • Ensure your web site details or provides links to details of all your services
  • Craft offers that tempt customers to try new services
  • Operate a CRM to keep a visible record of each clients service portfolio
  • Send eShots promoting specific services to groups of customers

The sales path of least resistance and cost are existing customers, so implement a process for exploiting this revenue stream to supercharge your business growth.

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