Let’s start with two business questions: Do you have all the possible business you could have from your customers? Do your customers know about all the “things” you can do (or sell) them? Recently I worked with a company that is looking for new opportunities to build the business. While they want new business, what […]
Let’s start with two business questions:
Recently I worked with a company that is looking for new opportunities to build the business. While they want new business, what makes their quest a bit different is that they are not looking for new customers. They want more business from existing customers. Some of their customers weren’t taking advantage of everything they had to offer. While they used to be interested in market share, they are now interested in customer share. That is their biggest opportunity for growth.
This is a concept that can cross over to any business. Several years ago, Coke had an annual report that talked about market share – how many consumers bought Coke compared to their competition. They also discussed body share and how they wanted the individual consumer to buy more Coke. The team had an interesting and entertaining concept that was about the percentage of bodily fluids in an individual was Coke versus water.
Stockbrokers and financial advisors face many of their clients having multiple accounts with competitors. The obvious reason is that clients don’t want to have “all the eggs in one basket.” But, sometimes it is because the client wasn’t aware of the expertise or other investment ideas that the advisor has to offer.
A server in a restaurant shouldn’t just take an order. They should try to up-sell the guest into appetizers, desserts and daily specials. Why? It isn’t just about the guest having dinner. It is about them having an awesome dinner. The server that gets the guest to enjoy the dessert special they didn’t know about not only enhances the guest experience, they most likely grow their tip.
Most businesses have the opportunity to experience growth with existing customers. It is a disservice to not let your customers know what you can do for them. If they already love doing business with you, there is no reason why they shouldn’t be open and receptive. Customers want to be up-sold!
So, some of you are saying, “Shep, this is all great, but I’m not in sales. I don’t have anything to do with selling at all. This isn’t for me.” I say WRONG!
I don’t care what job you have. What you do impacts the customer or someone who handles a customer. Do you have a skill not utilized in your current responsibilities? Does your boss or others know about it? Have you exploited your talents? It is unfortunate, but so many times, an employee’s talents are underutilized. There is no excuse for this. If companies can grow customers, why can’t we do the same inside a company? If you get recognized for other skills and abilities, it could lead to promotions or other exciting opportunities within the organization.
It is far easier to keep a customer than to get a new one. (And easier to keep a job than to get a new one.) Look for opportunities with your existing customers and make sure they know all of what you can do for them. So, up-sell your customers – both inside and outside customers!
Shep Hyken is a customer service/CX expert, award-winning keynote speaker, and New York Times bestselling author. Learn more about Shep’s customer service and customer experience keynote speeches and his customer service training workshops at www.Hyken.com. Connect with Shep on LinkedIn.
(Copyright ©MMXI, Shep Hyken)
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