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How we can increase sales within existing customer bases? Thank you in advance for your feedback.

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Answers

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  • You may try a CRM system with BI solution integrated in it. 

    This approach will be able to help you to mine customers' data to find unknown valuable knowledge and then using it to improve sales and retention of your customers. Customers' tendency may be able to indicated by this approach also. 

    Hope this is useful for you.

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  • Hi all,

    Many thanks Cuong has posted the answer. My question is specific and focus on 'Existing' customer base. It is not a general question in sales.

    Also thank Khiem took your time to answer. Use CRM is not bad idea but you know, all our competitor can do that.

    I will post my idea next week as waiting another comments (may be).

    Cheers,

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  • In modern business environment, I have seen that there are three ways to increase sales revenue: increase prices, attract more clients or sell more to existing clients. When we consider that if we increase prices, we risk lose forever our clients. And all sales peoples understand that selling costs to new customer will increase from 60% to 600% compare with a existing one, its clear that our best prospects are existing clients.

    But the question is how can we sell more to existing customer base? We can offer complementary products or services, help your wholesalers/retailers sell more to their customers, create incentives for in-house referrals, using the cross-sell or up-sell technical, etc … But a new study shows that if a companies can establish "Business Friendship" with their customers can create expectations they are unable to deliver on.

    Build “Business Friendship” is meaning that build friendship between the sellers and buyers. “Nurturing relationships is a popular strategy for many enterprises. Good relations can pay off in the form of high customer satisfaction, stronger customer loyalty, increased sales and cost reductions” - According to Audun Farbrot - Head of Science Communication, BI Norwegian Business School. Marit Anti has defined that “These are close relationships with the enterprise, where business is conducted with elements from actual friendships. Such relations make the customer expect that the enterprise to act as a friend and acts in the best interest of the customer”. 

    Many companies establish close relationships with their customers, with some elements that may resemble friendship. When the company builds close relations with customers, it also creates an expectation with the customers that they will be treated accordingly.

    With my experience, build long-term customer relationship management is not enough because all competitors can build it, but if I can build friendship in business, I’ll be winner. I believe that a business friendship can improve my client’s loyalty, easy to identify their needs and easy to know how we can satisfy them and of course allows us to sale more another products to them.

    But how we can build "Business Friendship" with customer, that is another very interesting question.

    Cheers, 

    Van Vinh.

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  • Tom Klark's picture
    Tom Klark
    1667089501

      Website traffic is so important thinks for many reasons. The more people see your site, the more potential customers you will have. I recommend to order organic traffic on this site. This is good idea to grow your business or website.  

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  • Jager Mikel's picture
    Jager Mikel
    1667315146

    You raised a good topic. There is something to think about here. In my opinion, the use of email customer service outsourcing can significantly increase sales. All leading business coaches recommend paying special attention to customer support. After all, their loyalty is the key lever for increasing sales.


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