Many business owners and salespeople are so obsessed with finding new customers that they neglect taking care of the customers they already have.
The hardest and most expensive sale you will ever make is the first one to a new customer. You have to overcome a new customer’s skepticism. You might have to present your offer to dozens of prospective customers to make a sale.
When a customer buys a product or service, do you make an effort to find out if they are aware of the other products and services that you offer?
Are there additional products and services that you can add to your offerings that make sense for your clientele?
For example, it can make sense for tax return preparation services businesses to offer financial planning and mortgage refinancing. (This also works in the other direction.) Some of these businesses offer “family office” packages for managing finances.
Insurance companies that offer auto insurance also offer fire and casualty insurance for residences and for rental properties. In some cases, packaging different coverage can be done with reduced rates, saving the client’s money. If that’s possible, you are doing clients a disservice when you don’t tell them about that opportunity.
Apple has been outstanding in successfully offering products that its customers didn’t even know they wanted, starting with personal computers and expanding to IPods, IPhones, IWatches and ITunes. Apple has a rabid following of customers who can’t wait to get the latest gizmo that they offer.
If you don’t offer a product or service yourself, possibly you can make a “white label” arrangement with another provider, or a joint venture or affiliate arrangement.
By having a variety of offerings that make sense for your customers, you are adding value by reducing the number of providers they have to deal with and simplifying their lives.
Would you like a “sounding board” to generate ideas for additional products and services you might offer? Contact me at email@example.com to schedule an initial conversation.