One of the fastest ways to generate a significant increase in your profits, is to find an additional product or service, which you can sell to your existing client base. These people already know you and trust you. There’s no need for you to sell yourself to them. If they see the value in buying an additional product or service from you, they will.
I once helped a London based computer maintenance company, who were 90 days away from bankruptcy, to generate over 20k worth of almost pure profit in just 9 days; by offering a great new service to their existing client base. The new service was what we now call cloud storage back-up. A professionally copy written email was sent to his clients, offering to securely back-up their important files every evening, for a fixed annual fee. The service was provided by a respected 3rd party, and rebranded by my client.
Almost 45% of his client base signed up within 9 days, with a further 17% signing up over the coming 3 months. In 9 days, this hard working small business owner went from almost going broke, to enjoying his most profitable trading period ever!
Look for new ways to help people
As a business owner, you should always be looking for opportunities to provide the best possible service to your clients. Part of this, is to look for new ways to help them solve problems. The bigger the problem that your new product or service resolves, the more help you will be and the more sales you will make. Equally, by providing an increasing level of help and support to your clients, you are also vastly more likely to retain their business. They win, you win; everyone wins!
So, I have a question for you: What additional products or services could you offer to your existing clients or customers?
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