Dear business owner, what is your largest marketing asset in your business at this very moment? Is it your products, your industry know-how, location, website, business name or employees?
You guessed right (my readers usually do). Your biggest, fattest, juiciest marketing asset is undoubtedly your customer base. It's the trust and affinity you have built up over time with your clients. Think about it this way: If you had a panga against your throat and simply had to make your next marketing effort work. What would you do? Who would you go to? And what will you offer be?
If it was me I'll introduce new value to existing clients immediately (hint, hint). Study, after study, after study, shows that getting a 2nd sale from a customer is easier than trying to get a new one. Upselling or add on selling is quicker to get going instead of trying to get more customers. How so? And why is that? Let's go deeper ...
Why is it easier to get more sales from existing clients rather than trying to get new ones? What is the underlying reason of this phenomenon? What is the one factor that causes this? Slowly but surely writers are standing on mountain tops with microphones, proudly declaring - "I've got it. I know how to get & keep business! Customers have to trust you first!"
They are in fact right, however ...
Wise businessmen knew it all along...Savvy owners simply narrow their
eyes and think ...'well obviously, its the prerequisite of doing
business.'
And here's PROOF:
"Trust has a bottom-line impact on results and when trust goes up, speed goes up while costs come down" - CEO of DELL
"Trust is the essential ingredient to building authentic organizations that sustain peak performance" - Harvard Business School
"Trusted leaders and organizations do things better, faster, and at lower cost" - CEO of The Black & Decker Corporation
The moral of the story? Sell all you can to your existing clients first and then go to the outside market. Get it. Got it. Good :)
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