Increase revenue from saturated clients
So many SMEs avoid interacting with their customer base to get that revenue from saturated clients. Their limiting believes create a mindset, that opens doors for competitors to take market share away from them due to their passive sales approach.
We will be looking into ways how you can generate additional revenue from your existing client base even if you think they are already saturated and do not need anything else from you:
- Getting in contact with clients to find out how happy they are and what is currently bothering them in a similar area
- Identifying business opportunities by expanding your service or product range to solve more problems for your clients
- Turning clients into happy promoters who introduce you to other quality buyers
As businesses often believe their ability to provide a certain service or product is limited by their experience, they leave a lot of potential sales untouched. In order to expand the size of your clients purchase basket, you need to listen carefully to what clients are telling you. Often their subconscious is letting them tell you about areas they feel unhappy. These areas are not your product.
It is something close by that is causing them pain. By taking the time to expand their trust in your abilities to help them, you grow your account with them. They trusted you before and will hopefully trust you in the future. Just because the pain comes from a product you never sold or touched before; it does not automatically disqualify you, as the person who will solve the problem for your client.
Take the time to research and understand the problem, so that you can solve it in a much smarter way.
You will be astonished to find out how much more business will come along your path as your client tells others about your outstanding ability to improve their business. You might have to invest a few hours with that client.
Maybe you even drive 100 miles to that client or jump into your plane and fly those 500 miles to your client. Yes, that costs time and fuel, but it could become a 10X sized business opportunity that generates a massive revenue every year instead of just 1 sale every 10 years.
Transcript for this episode on getting the 2nd sale
[00:00:01] Topic number one is how to get in contact with your client base and get new business in. As businesses often believe their ability to provide a certain service or product is limited by their experience. They leave a lot of potential sales untouched. In order to expand the size of your client purchase basket, you need to listen carefully to what clients are telling you. Often the subconscious is letting them tell you about areas they feel unhappy.
Is it that difficult to get revenue from saturated clients?
[00:00:44] These areas are not your product. It is something close by, that is causing them the pain. By taking the time to expand the trust in your abilities to help them, you grow your account with them. They trusted you before and will hopefully trust you in the future. Just because the pain comes from a product you never sold or touched before; it does not automatically disqualify you as a person who will solve the problem for your client.
[00:01:28] Take the time to research and understand the problem so that you can solve it in a much smarter way. You will be astonished to find out how much more business will come along your path, As your clients tell others about your outstanding ability to improve their business.
Clients want your help to buy more from you
[00:01:59] You might have to invest a few hours with that client. Maybe you even drive 100 miles or 500 miles to that client or jump in your plane and fly to those 500 miles to your client. It will cost time and fuel, but it could become a 10x sized business opportunity that generates a massive revenue every year instead of just one sale every 10 years.
[00:02:39] So how can we identify business opportunities to scale your portfolio as you continue to communicate with your client base? You will be identifying some pain points that are common with a large section of your base. I mean, that client base and some that are only a problem of one or two clients. That is where at first you should look to see what has a potential to be sold to many clients, you already have.
Example on how to expand your account with that client base
[00:03:22] Let’s say most of your clients complain about an outdated phone system. They need to be mobile. The salespeople must be reachable from anywhere. Maybe they’re even having to have people working from home much more than they used to do. And their old phone system just doesn’t accommodate that.
[00:03:48] That’s where you could look into platforms like asterisks or 3CX as an example. And you could recognize the benefits of those products. You test them and find what covers most of the pains, the pain points your clients have told you about. Then you can work out a draft of your introductory offer. Take that to a few clients. Check out how they like it. Maybe some might even send you home with their placed order in your briefcase. That’s already the first few sales you didn’t even expect to be so easily to get it. So roll out the first kits, then take it to more clients as your team becomes more experience and delivery service.
[00:04:53] You will be able to get even more clients to buy that new offer. Your costs of delivery goes down as you have your standardized operational plans or S.O.P guides. You have your documentation and is more and more complete to speed the delivery and improve as well the quality. You have less problems to solve with the new implementations. That way you standardized new offers that allow you to hire more people to handle the additional business, you have gained and you will be gaining in the future.
Client can actively help get more customers
[00:05:44] How could those clients help you get more clients and more business, that is outside of your existing client base? So these satisfied clients will bring you other people with the same or similar problem, so they become your clients.
[00:06:04] They will provide you with testimonials, maybe even. You have to ask them for this. Don’t be shy. And if you are consistent in your service, in the quality that you’re providing and your attitude and your people, what they are giving to your clients on a daily base. Those happy clients will be absolutely willing to provide you with a video testimonial. Video testimonials are the best form of reference you can get because it is not as easily faked as a written testimonial. People nowadays do not trust written testimonials anymore, or very few do. But a video is more credible. Videos are the best.
[00:06:55] Furthermore, your reference list will impress even larger companies to buy from you. You will be surprised who might want to buy from you and even open doors to similar large clients. That’s how you can generate more additional revenue from your existing client base, even if you think they are already saturated. You do not need to create a complicated mission to increase the revenue from saturated clients. It is all just about your willingness to commincate and be helpful.
