Rockland Marketing & Advertising Agency
Serving Rockland. Metro NY & Beyond
How To Increase Profits
From Current Customers
Cross Sell Up Sell Increase Prices Referrals
Discover how you can increase profits from current customers
“The most powerful element in advertising is the truth.”
~ Bill Berbach
Four Ways To Increase Profits From Your Current Customers
The four ways to increase sales from your current customer base are:
- Cross-sell programs are when a business sells additional products and services to an existing customer. Ex. A roofing company sells a customer new gutters and gutter guards.
- Up-Sell programs are when a business sells a premium option, a service program, or a warranty, Ex. A pest control company exterminates ants and then sells them a yearly pest management program, or a car salesperson adds a 100,000-mile warranty.
- Price Increases – we have all bought insurance or online subscriptions, and after a while, we receive a notice of a price increase.
- Referrals – These are sales referrals to people they know.
Fact 1 – Happy customers are the fastest, easiest, and most profitable to sell
Fact 2- Every company should, and very few do, have a program for reselling current customers.
The Eight Levels Of Business Relationships
Business relationships generally develop through several stages, from initial contact with a potential client to a loyal customer. Here are the common stages:
- Suspect: This is someone who fits the profile of your target market but hasn’t yet expressed interest in your product or service. At this stage, the goal is to generate awareness and interest.
- Prospect: A prospect has shown interest in your product or service and is likely to become a customer. They might have filled out a form, subscribed to a newsletter, or expressed interest in some other way.
- Lead: A lead is a prospect who has taken the next step in the customer journey. They might have asked for a quote, scheduled a demo, or completed some other action indicating a strong purchase intent.
- Opportunity: An opportunity is a lead, who is actively considering your product or service, has a need and budget for them, and is deciding from whom to purchase. They are usually in contact with a sales representative and discuss specifics.
- Customer: A customer is someone who has made a purchase. They have decided that your product or service is the right solution for their needs.
- Repeat Customer: A repeat customer is someone who has made multiple purchases. They have demonstrated that they trust your brand and are satisfied with your product or service.
- Loyal Customer: A loyal customer consistently chooses your brand over competitors. They may also refer others to your business and provide positive reviews.
- Advocate: An advocate is a loyal customer who actively promotes your business to others. They might provide referrals, write positive reviews, or promote your brand on social media.
These stages are often represented in a sales funnel or customer journey map. Each stage requires different strategies and tactics to move the individual to the next level. Investing time and marketing dollars into moving individuals in our warm market along the journey until they are qualified as a lead and then nurturing them until they decide to buy or not is one area of marketing that is often overlooked but has one of the highest ROIs. A word to the wise, if handled properly, even companies that do not buy from you can be nurtured to the point where they refer others to you.
How To Enhance Relationships So That Businesspeople Give You Referrals
Napoleon Hill said it best, “It is literally true that you can succeed best and quickest by helping others succeed.” In our networking, we need to listen and fully understand the needs of our fellow businesspeople. Every time we listen to them and do something to help their business, no matter how insignificant it may seem, normal people will appreciate it, and it will enhance the relationship. Moving people from suspect to advocate takes time, energy, quality communication, and consistency. Not everyone will move that far, and that is OK because no one has the time to nurture 500+relationships effectively. One of the best ways to receive referrals is to give them. Most people will try to reciprocate when you help them… Here is another way that works… If a prospect has become an opportunity and they want to buy from you, but the competition has proposed a lower price, and you want the business, ask the following… If I can beat their price, would you be willing to give me 3-5 referrals? You may drop your rates by 5-7% but pick up much more from selling the referrals. Another way to get referrals is to reward people. Many industries offer finder’s fees that are 100% legal and reward people for referrals. I once had an advocate who I personally introduced to 4-5 clients. He had been working on a prospect that did not work out but was told they were unhappy with their current agency… We were introduced, were asked for a proposal. This regional account was a very good account for us. During the time we were working with the new account, the gentleman who referred them asked us to do a relatively small project for him. When it was time to bill him, I completed the invoice, crossed out the amount owed by hand, and entered a simple note… Thank you for referring us to XYZ Corp… this is on the house! Guess who sent us another referral within a few weeks??? Always keep your eyes open for ways that you can help your business associates. Not all will reciprocate but many will.
Give 5-Star Service To Make Customers Happy
And Have A Program To Sell More To Them
Satisfied customers are four times easier to sell to and cost 3-4 times less than people who do not know you. When we speak to a prospect for the first time, they do not have much trust in us. However, they believe we are the best choice when they buy. Delivering 5-star service to each customer makes it easy to sell more to them. If you deliver poor service, a customer retention program becomes difficult for obvious reasons. A program designed to keep the relationship warm is one of the most profitable things a company can do with delighted customers. The most obvious thing to do is to start by sending a personalized thank you note. New customers should also be cultivated to buy more from you. Let’s say you are a landscape contractor, and you sold a customer an annual lawn maintenance contract, and they are happy. What do you think the odds are that they would give you the first shot at putting in a patio if you gently remind them that you do this? – Very high. What do you think the odds are if you do not remind them that you do patios and hardscaping too? –Not as high. We can help you develop cost-effective customer retention programs that up-sell, cross-sell, develop referrals, and keep your value message in front of your customers to keep you top-of-mind.
Warm Market Marketing Plan
Developing a warm marketing plan is a smart business move that increases profits from current customers. You work hard to gain a prospect’s trust and make a sale. Leading business people deliver 5-star service and have a marketing plan to sell more to these pleased clients. When people trust you – sales happen more quickly. In the warm market, trust has already been earned with your happy customers, which is transferred to you when you receive a referral. This is why warm market leads close 3-4 times quicker, easier, and with less price pressure than cold leads. We help our clients develop a warm market marketing plan that includes creative direct mail, newsletters, inserts to billing and customer correspondence, postcards, emails, texts, and personal calls. Our warm market marketing plans include cross-selling, up-selling, Price increases, referrals, and old customer reactivation strategies. If done correctly, the profits from this activity can help you develop a war chest to fund the additional marketing that will propel your business to the profit levels you desire.
If you have questions, call us at 845-536-2019, and we’ll be glad to help you develop a program that best fits your needs and budget.
16 Tips to Help Keep Business Relationships Warm and Growing
The old saying that people don’t care how much you know until they know how much you care should be your inspiration to building better relationships with your customers. We can assist you in maintaining and growing your relationships with current customers. We will discuss your needs and help you to develop several avenues to better customer relationships. Some of the ways that we can help you are by:
- Developing newsletters deliverable by mail and by e-mail.
- Mail or e-mail information to clients on additional ways you can help them.
- Direct mail. Postcards and e-mail programs to cross-sell.
- Retarget your opened emails with a digital retargeting program that is designed to tell your value story, build trust, and even make offers.
- Seasonal cards, letters, and mailings
- Holiday cards
- Call occasionally to say hello – be a friend and ask how you can help them
- send them premiums
- Meet for coffee or lunch to discover how you can help refer businesses to them
- Introduce them to one of your contacts that might be a good source of referrals for both parties
- Bring them as your guest to another organization, club, or country club that might benefit them.
- Drop by with a gift of food – a pie, some candy – make sure it is quality
- Display their brochure in your place of business
- Have some fun together – go to a concert, bring spouses to dinner, golf, go to a sporting event, have a drink after work – get to know one another personally
- Include their flyer in your mailings, mention them in a newsletter email or blog (if appropriate)
- Be authentic– people know when you are faking or phony…
Reviews of Accelerated Advertising
Our Clients & Colleagues Say It Best…
Accelerated Advertising’s approach
& Who can best benefit from working with us
Accelerated Advertising, located in Rockland County, is an advertising and marketing agency that provides cutting-edge warm-market, online, traditional advertising, and guerrilla marketing. Based in Nanuet at the center of Rockland County, we service companies locally, in the metro New York region, and as far away as California and New Zealand without missing a beat. The most effective advertising and marketing tell a truthful story that resonates with the target audience and moves them to action. Our objective is to work with firms that deliver real value and position their offering in front of their ideal customers; effectively persuading them that our client is the best choice to fulfill their needs and desires. If you are hungry to grow in an ever-improving, yet controlled manner, we may be a great fit. I invite you to browse our website and look forward to discussing your needs. Our goal is to develop long-term relationships with quality companies. We succeed by helping good people achieve their goals. The start is always a no-obligation meeting. If we both feel we are a good fit, we will develop a plan of action to help you efficiently achieve your goals. If we are not a good fit, we will direct you as best we can.
– Al Garlick
Three hallmarks of successful advertisers & marketers
Over the years, Accelerated Advertising has observed three things:
- Companies that deliver excellent value and invest in marketing and advertising – survive difficult times and grow and thrive in normal conditions. Those who do not offer value must invest considerable sums in advertising and sales. They must find people who are uneducated about the product or service and unaware of completion that provides better value. Our goal is to help good people and good companies grow cost-effectively.
- Businesses that invest in tracking their advertising and marketing, on average, grow 30% faster. Over time, they spend 30% less than competitors who “save” money by not tracking their marketing.
- Businesses that test their results find the most effective marketing. Not every marketing activity will be a home run. However, savvy marketers will accelerate their results by testing small, dropping activities that do not do as well as others and investing in the activities with the best returns. Those that commit to constant improvement accelerate their growth and profits.
The team at Accelerated understands that you’re looking for a marketing partner that can help your organization grow. They are here to help you develop and implement the right strategy and continue to improve its effectiveness over time if you have questions or would like to discuss how Accelerated help you, please schedule a 30-minute consultation.
WE DELIVER RESULTS
A marketing agency that has your back
We understand that you’re busy running your business. You don’t have time to learn about and stay up-to-date with all types of marketing and advertising. You certainly do not have time to implement, test, and revise marketing programs constantly. You just want more customers, controlled growth, and a marketing agency that has your back.
At Accelerated Advertising, we are dedicated to helping our clients develop the most cost-effective strategies available. Our team understands your desires, what your customers are looking for, how to engage them, educating them, and convincing them to choose you to fulfill their needs.
“Half the money I spend on advertising is wasted, the trouble is I don’t know which half.”
~ John Wannamaker
Learn How You Can Out Market
& Out Sell Your Competition
Let Us Help You Develop your Warm Market Marketing Plan