As we recently discussed, long-term customers provide many financial benefits to your company. In fact, strengthening current accounts is one of the most effective methods of boosting profits. Recruiting new clients usually costs a pretty penny, so many world-class organizations focus on increasing up-selling and cross-selling to current customers instead. Unfortunately, many salespeople avoid these techniques because they are afraid that suggesting additional products or services could scare off customers. However, as long as you follow a few basic strategies, as outlined below, you can successfully cross-sell and up-sell to your current customers.
Archive for the ‘Customer Feedback’ Category
Earn More Business From Current Clients: 4 tips for up-selling and cross-selling existing accounts
Tuesday, November 3rd, 2009Schlesinger Associates: Real-Time Feedback from CEM Solution Helps Company Stay on Top
Thursday, October 22nd, 2009
American inventor Charles Kettering once said, “A problem well stated is a problem half solved.” This maxim is as relevant to business success as it is to invention. Business growth is often fueled by customers who clearly, honestly report problems. We might tack on an addendum for business: A problem immediately relayed is often more easily resolved. In an ideal world, managers would know about each customer complaint mere moments after it had been lodged. To appreciate how such real-time feedback can impact customer engagement, let’s review a case study: Schlesinger Associates.
Customer Alerts: Turning Customer Feedback into Immediate Sales
Thursday, August 20th, 2009
All too often, market research data is only folded into long-term trend analysis. Don’t get me wrong–it’s better to have some information than none at all. Still, this isn’t your grandmother’s market research. Companies no longer have to spend weeks or months analyzing data from customer feedback surveys, only to hope that their conclusions are correct for the next big marketing push. Experienced firms can determine which best practices actions will have the greatest impact on Customer Engagement. Good CEM (Customer Engagement Management) solutions should also offer stakeholders the ability to adjust their responses to customer feedback in real time. In other words, the customer feedback you collect today should be used later today to improve customer relationships, recover disgruntled clients, and grow new business.
How to Use Customer Testimonials to Increase Engagement
Wednesday, July 22nd, 2009
Today’s consumers are savvy—marketers need to earn their trust, not to mention capture their attention. Customer testimonials are one venue for doing so. Consumers often trust fellow consumers more than they do corporations and ad agencies. As the book Word of Mouth Marketing opens, “Word of mouth is so effective because of the natural credibility that comes from real people with no profit or agenda tied to their recommendations.” Winners in certain fields are often chosen by customer testimonials. Self-publishers, for instance, actively woo readers for customer reviews at Amazon.com, because they know that other readers are more likely to buy a book that has received positive ratings. In a reversal on typical PR procedures, self-publishers may even quote these reader reviews when pitching story ideas to the media.
Customer survey follow-up and why it matters
Tuesday, July 7th, 2009
After you’ve selected a market research company, partnered with them to design a useful survey, and watched the results stream in, following up with customers can feel as anticlimactic as writing thank you notes on the day after your birthday. However, just as writing thank you notes goes a long way in preserving next year’s present count, following up on survey feedback is a good practice for retaining engaged customers.