Consider these fundamental ways to increase sales:

1. Win new customers
2. Sell more to existing customers
3. Sell more profitably to existing customers.

1. Keeping Customers Significantly Increases Profits: With the average business losing 8%-15% of customers annually (most through neglect), a mere 5% increase in retention can raise lifetime profits per customer by 25%-100% (Bain & Co.)
   
   
2. Existing Customers Lower Marketing Costs: Customers already know and trust you, reducing the cost of acquiring more of their business dramatically from the $100-$250 per sales contact it takes to bring in new customers.
   
   
3. Existing Customers Are More Profitable: Existing customers are often more profitable than first-timers because less time is needed getting up to speed on the customer's needs and less pressure to reduce prices.
   
   
4. Existing Customers Are An Excellent Source of Referrals: A satisfied customer will enthusiastically refer your business to others, making that referred prospect among the easiest and least expensive to market.
   
   
5. Existing Customers Are Early Adopters: Current customers are the fastest and most reliable source of sales for new products or services.
   
   
6. Existing Customers Are Receptive To Cross-Selling: Since customers already know some of your products and services, you can more effectively engage in cross-selling.
   
   
7. Existing Customers Improve Sales Targeting: Your customers can reveal the profile of your best buyers, their profitability and the purchasing patterns they follow – information that enhances long-term revenues and reduces marketing costs.
   
   
8. Existing Customers Know Your Market... Maybe Better Than You: Customers are an excellent source of information on your competition and new products in the marketplace.
   
   
9. Existing Customers Are More Likely To Support Online Marketing: Research shows online marketing targeting existing, offline customers can deliver click-through response rates 30% higher than similar efforts targeting new prospects derived from rented lists and other sources.
   
   
10. Existing Customers Can Expand Your Expertise: Customers who have trust and confidence in your capabilities can help you develop new expertise and experience in uncharted markets or product categories.

Strengthen the value of your existing customers
How can you encourage existing customers to do more business with you? Start by finding out more about General Content – your customer company.

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