Make yourself more valuable to clients: When it comes to value, those who give receive.In the modern sales race, winning sales pros deliver superior value by providing swift responsiveness. They’re also well-prepared with necessary research, questions and ideas. Furthermore, they put the customer at the center of discussions, using their listening skills to comprehend fully what clients need. They’re continually expanding their knowledge base and building their expertise. Critically, they draw on their creativity to develop unique promotional solutions that drive ROI.
Cross-sell and upsell: Cross-selling centers on selling clients additional products or services. Upselling involves selling clients a higher-value version of a product they want. Done effectively over time, cross-selling and upselling are excellent tactics for increasing clients’ lifetime value. Still, it’s essential that reps cross-sell and upsell ethically. Suggest higher-end products when it is in the clients’ best interest to invest in them. Pitch additional items when it’s clear those items will help a customer achieve their promotional initiative.
Meet more of your clients’ needs: Sometimes, reps fail to realize that clients have additional needs for branded merchandise that the sales pros are not fulfilling. Don’t let this be you. Establish yourself as the provider of all your clients’ swag. Ensure clients have a firm idea of the suite of solutions you can provide. Furthermore, discuss clients’ marketing calendars with them; this often leads to the discovery of new opportunities. Also, if you sell hard goods to a buyer, ask her about her possible apparel needs, and vice versa. The ability to develop personal relationships with clients is a fundamental element of not only earning long-term loyalty, but also increasing how much loyal clients spend with you annually. To build relationships, be honest, put clients’ best interests first and learn personal things about buyers. Other smart approaches include keeping in touch with clients even when an immediate sale is not in the works. Sure, holiday and birthday cards are nice, but go further: Invite clients out to lunch. Send them a branded present or a gift card to the movies. Drop them emails with links to articles that will interest or entertain them.
Create an ideal client profile: Savvy sales professionals develop a clear, detailed idea of the types of clients with whom they would most like to work. Then, they intensely devote their energies to building lasting relationships with these buyers. “This in and of itself will increase the lifetime value of your clients” because you will be working with higher-quality customers, says sale coach Wendy Weiss, president of New York City-based ColdCalling Results.com.
Ask for referrals: The more quality referrals (ones that lead to new customers) you earn from clients, the more value that client has provided you with. Therefore, don’t hesitate to ask satisfied clients if they can suggest leads or even put you in touch with others they know who could benefit from the consultative service you provide. Often, the best time to ask for referrals is just after you have completed an order that leaves the client thrilled. Also, remember that it’s OK to ask for referrals more than once, so long as you don’t get obnoxious. Maybe a year ago a client gave you a couple referrals. Consider asking again.
Watch this video for advice on how to calculate the lifetime value of your average customer (http://goo.gl/gId3KD). Knowing this number will help you make better marketing and customer-acquisition decisions.
Use this www.customerlifetimevalue.co free service to get a “back-of-the-napkin” calculation of a client’s lifetime value.
- Where appropriate, cross-sell and upsell clients this month.
- Try calculating the lifetime value of your average customer.