One of the most important things to remember about the sales process is that just because a lead has traveled from one end of the sales funnel to another doesn’t mean that they should be forgotten. Securing initial revenue from new business is one thing – making sure that a steady stream of proven revenue is always on the upswing is something else entirely. If you want to increase revenue from new business while providing additional value for your customers, there are a few simple-yet-creative methods you’ll want to keep in mind.
Don’t Take Their Trust for Granted
One of the best ways to increase revenue from new business is to acknowledge that even though you’re looking at a customer who already loves and trusts you, you can always be doing more to add value to your relationship. Far too many businesses are too quick to shift their emphasis from new business back to prospective leads, but doing so leaves a potentially huge amount of money on the table. To continue to deepen and strengthen that connection moving forward, you should always be asking yourself, “What can I do to add value to this existing relationship?”
Build Your Authority
Another great, creative way to increase revenue from new business involves further establishing yourself as an authority in your industry through education. Taking steps to host a seminar on a particular hot-button topic for new clients, for example, helps build trust by showing that you really know what you’re talking about. And if positioned well, it can also be a natural up-sell opportunity in the making. These types of seminars can be done through an online webinar or in person, depending on your clients.
Give Back Via Special Discounts
Regardless of the business you’re operating in, one of your primary goals in terms of new business is to always make each client feel like they’re the only one you have. One of the most effective ways to do this is via special discounts that can create new, unique buying opportunities in the minds of your customers. You can offer a quantity discount, for example, or even a conditional discount that lowers the price on something when a particular product is either used or reconditioned by your customer.
Add Subscription Sales
Subscription sales are all the rage, and not just in terms of newspapers and magazines. Many different types of products lend themselves to a subscription-based payment model, and customers new and old are flocking to this idea for the sheer convenience alone. Even Amazon has made huge progress in this regard with their “Subscribe and Save” model for regular household items. Consider how your business might adapt to offer products or services on a subscription basis. It can be an efficient way to inject additional value into something they’ve already expressed desire in.
Offer Custom Reporting
Do you collect or analyze data that your team can repurpose into a special report? Perhaps you’ve done research on a particular vertical or regional segment that could be valuable for your customers as well. Just as hosting seminars helps build your expertise, custom reports can be a valuable offering. As long as the data you’re repurposing is useful and not private or proprietary, it could be helpful to some of your customers. Focus on the research or data that your business is uniquely qualified to provide, in other words, information that your customers may not be able to get anywhere else. This will not only provide incremental revenue, it will provide an opportunity to extend your relevance and business expertise. Who knows, it could even lead to a new, steady revenue stream if demand is strong.
Want to learn more ways that help you increase additional revenue from new business? Follow us online @The_List_Online.