When turn a prospect into a customer it’s time to celebrate, right? You have made a sale, so your work is done. Now it’s time to find some new leads so you can hopefully repeat the process.
But, before you do that, remember one important thing.
The customer you just obtained will never be more interested in what you have to say and offer than they are now. They’ve pulled out their wallet or purse and are buying what you are selling. Their level of interest in your business is sky high right now.
Right Here, Right Now
When a customer is in the process of buying one item from you, it’s the perfect time to deliver an up-sell, down-sell or some other type of offer. Look at this as an opportunity to provide additional value and solve more problems for your customer, rather than thinking about making a sale.
It costs 6 to 7 times more to get a new customer than keep an existing one and, on average, 20% of your customers will be responsible for 80% of your sales.
Get Your Sales Funnel In Place
This is why you need a sales funnel. It will include an immediate offer to anyone who buys one of your products or services. A proven process here is to offer something that costs more than the item just purchased. This is known as an up-sell. If the customer passes on the up-sell, offer a down-sell option or a cross-sell of a related item.
This is one of the key reasons why the online retail giant Amazon is so successful. More than 35% of their revenue comes from cross-sell recommendations. The majority of customers just plan to buy and leave. However, when they are presented packages or connected products, it makes the shopping experience more convenient and it saves them time looking for these items and even suggesting things they may not have considered.
The Power Of Unadvertised Bonuses
You can also develop lifelong customer loyalty and multiple sales by rewarding a purchase with an unadvertised bonus. Make this bonus something exceptional. You want to genuinely reward a buying decision with substantial value, and something that fixes a big problem in the lives of your customers.
Referral Discounts And Free Products
This is another way to turn one time customers into repeat buyers. When a customer refers you to a friend, you extend a future purchase discount or extra product to that person if the referral also makes a purchase.