The Importance Of Getting Your Customers To Desire What You Provide
This presentation by InfusionSoft illustrates the importance of getting your prospects to opt-in and building the backend or the upsell.
First, let us take at look at customer loyalty. Keeping your customers with you and buying from you increases the bottom-line, period. The reason being, after the initial acquisition cost of the customer in the first year, you save on acquisition cost the following year while billing them the same amount. This translates into more profits.
Second, loyal customers incurs less marketing cost. Yes, you still need to market your services to keep them with you, but as long as they are satisfied with your services, it costs less. Be it in offers and promotions, manpower or time to satisfy your existing customers.
Third, use automation to follow up. This applies to online and offline businesses. Using automation, such as emails to follow up increases the lifetime value of the customer. You increase the chances of more sales and by using automation, you reduce workload. Think of it as working smart.
3 Keys To Upsell Success
- Create Desire – Make the upsell only available at the point of sales
- The Backend – Sell complimentary stuff that benefits your customers
- Focus On Wowing Your Customers – Build trust and relationships
No matter what industry you are in, you should be aware of the following matrix:
- Cost of Customer Acquisition
- Lifetime Customer Value
- Cost of Customer Retention
As always, have a Call To Action. Nothing is made until the first sales is closed.