Did you know it’s 6 to 7 times more expensive to attract a new customer than it is to keep an existing one?
Now I’m not saying attracting new customers isn’t worthwhile, because it is. But what that stat really suggests, is that while you’re waiting for new customers to find you, you have an untapped opportunity right at your fingertips—the list of contacts you already have.
How you can get more revenue out of the people already on your contact list?
Segment your list.
Segmenting your list means grouping individuals into categories you create. What this does, is it helps you cater your interactions (like text and email marketing) to different people on your list and stop spamming others with messaging that may not be relevant to them.
Popular contact list segments:
- A person’s stage in the buying cycle
- Demographics like age, location and gender
- Purchase history
Go for the upsell.
Ever order a pizza online, and juuuust as you went to check out, the system asked if you wanted to add a dessert? Tempting, right?
Some great times to attempt an upsell:
- During your initial consultation
- At checkout
- In text and email communications with regular customers
Re-engage old contacts.
Do you have any contacts on your list who used to buy from you all the time but haven’t come around in a while? All you need to get back in front of them is to reach out and re-engage!
Consider building an email campaign (now that you’ve segmented your list) promoting your most popular products or services, and offer a discount as incentive to re-engage. Include “We miss you!” messaging to add some character and seal the deal.
If you’re struggling to figure out how to use your contact list to tackle these tips, your list may need some help. Actually, a customer relationship management (CRM) system could get you organized and make things easier than ever. (One like Thryv.)