It’s no secret that building new business from existing customers is more cost-efficient (and less stressful) than cold calling. But what are the strategies for scouting out these “up-sell” opportunities? Lee Ann G. Bennardo, president of Print Management, LLC, shares advice:
Lend them your ear
You’ve earned your client’s trust, as well as permission to discuss their business challenges. “I never hard sell—I empathize,” explains Bennardo. “By asking questions and listening closely to their needs, I learn if they might benefit from additional services. With this approach, they understand that I’m trying to help them, not sell them.”
Call for help
If business slows or you’re ready to grow, ask your customers for referrals. If they’re happy with your work, it’s to their benefit to see you stay in business. Tend to these referrals carefully, advises Bennardo, who attributes 70 percent of her new business to referrals. “When my customers offer me a referral, I always ask if may contact the prospect directly and use their name as the referral source.”
Follow that lead
When dedicated customers take their talent to a new company, they can open to the door to new opportunities. “My largest account is with a customer I’ve worked with for 20 years at four different companies,” she shares. Wisely, Bennardo develops multiple relationships at each account, so when key contacts move on, she gains a prospect without losing a client.
This article was originally published on WE-DO.net, the website of WEDO®, Women’s Economic Development Outreach. WEDO is a coalition of business experts working in collaboration to provide focused resources that help women owned and managed businesses flourish.