Build Your Customer Base in 4 Weeks: Business Coaching in CT Tip #9
Business Coaching in CT tip # 9 – Convert a Single Customer into Multiple Customers
One of the easiest way to increase the number of customers is to concentrate on those already in the database. This kind of conversion is often just as lucrative, but far less expensive, than trying to drum up business from cold calling those who have never stepped foot in the store. By up-selling or cross-selling, for example – profits can multiply and several directions and or product lines.
For those customers who are on a limited budget or have other considerations that may be keeping them away, try a down-selling approach. If they can purchase a less expensive product or service instead of going to a competitor, it has the same bottom line effect as recruiting a brand new customer. Eventually – thanks to the savings they make by doing business at a price point that is within their means – they may upgrade or expand their purchases to become a more valuable and lucrative customer over time.
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