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.
Posts Tagged ‘Relationship marketing’
Earn More Business From Current Clients: 4 tips for up-selling and cross-selling existing accounts
Tuesday, November 3rd, 2009Reward Programs: Are they Effective for Creating Engaged Customers?
Monday, August 31st, 2009Most Americans are members of at least one loyalty program, if not several. Whether they carry around a R.E.I. dividend, a key chain tab for their grocery store, or a card for their airline, Americans love to get a little something extra for their patronage—and loyalty programs claim to give it to them. The American love for loyalty programs is strong, even in the recession. As loyalty research firm COLLOQUY’s Rick Ferguson put it, “Despite the recession, more consumers across all demographic segments are participating in rewards programs than ever before.” In fact, COLLOQUY found a 25% increase in American loyalty program memberships since 2006. So, reward programs are popular, but are they effective from a business perspective?