How do I squeeze more business out of an existing customer?
I have already built strong relationships with the client base for my yoga studio. I want to launch a health and wellness program through the studio for an additional price. Instead of looking for new customers, how do I go back to my existing customers and sell to them first?
As has been mentioned in the thread in different ways, you want to deliver add-on services to your customers not squeeze more business from them.
You might consider engaging your customers in conversation. Mention you want their advice to some add-on services you want to deliver. Find out what they would want from a health and wellness program and compare the answers to what you have in mind.
Find out their perceptions of such a program, educate them as has been mentioned. Find out the objections as well as those points that resonate with them in a positive way. Make sure you mention the benefits of the program but don't try and sell them. You are after information at this point, not sales.
Once you see some trending, commonalities in the answers and have some good information you can run with, then you can put together the program based in part from what you learned in your conversations and from your other research.
Make sure you thank those that share their thoughts with you. You might even want to give them periodic updates so they can become at some level, stakeholders. These customers if they've bought in from your conversation, are more likely to sign-up for the new program(s) and give you referrals once you launch...
Richard Stern Obtaining more business from existing customer is achieved by continuing introducing new products, offering "special" premiums and purchase incentives.
Also offering "special: holiday special product offerings for July 4th, Christmas and other holidays
This is not about squeezing more business. you need to change your mind set.
Many of these existing customers are likely to be good prospects for your additional services. In any case you should have been in regular contact with them, via email preferably, to keep you 'Top of Mind.'
You could use a tool such as Survey Monkey to question them about their needs and desires in the elements delivered by your proposed new services. you can then fine tune or radically redesign your new services ahead of launch.
You can then warm up the respondents and provide vouchers for discounts and bring a friend offers. Regular emails with tips and information will keep the customer list warm and ready for any other services or joint ventures with suppliers of food supplements or clothing/accessories for instance.
Michellyn...I need to provide some tough love coaching here - please don't ever use the word 'squeeze' when you are talking about your customers (or prospects) who pay for you to be in business. I know you are using it here internally, but one could perceive that it is your attitude with your clients/prospects.
You are also not selling them, you are giving them an opportunity to expand their nutrition, fitness and overall health benefits with additional services and programs.
Sales is not about selling someone, it is about showing them how what you have to offer is something they need (or want), and will give benefit to them.
I would first consider your messaging to them in all aspects of marketing you do.
That said, you received some great input below. I would have you consider:
- of the customers you have, how would they rate your current services or offerings (classes, etc.)?
- what % of them are repeats? what % are not?
- if you focus on those customers you have retained, they are the best ones to message your new programs to - especially if you understand them and the benefits they have received.
So I would focus on analyzing your current customer base, and position appropriate messaging on the new offerings you have to those individuals or groups (top 25 % of customers, middle 50% and bottom 25% all require different messaging).
Once you have their messaging/upoffering them...you can move on to new leads and prospects - also requiring different strategies, tactics and messaging.
It's a proven fact that it is much more cost effective to keep and grow an existing customer than to search for a new one. The secret to success in any business is service married with worthwhile incentives that "delight" customers. Additionally, it's about marketing - owning share of mind. You need to present the value of your health and wellness program before you offer it as a complimentary benefit of membership. When you do, you have to position it as a "savings" for existing members, or as part of an ongoing program of enhancements for their ultimate well being. You have to establish your studio as the ultimate "go to" place for their health and happiness.
Ask your clients what they like/dislike and would like more of, including additional services/facilities.
Unless you think your Steve Jobs - ask you customers.
It is easy and simple using five steps in marketing process.
You already got great advice here.
I know from my experiences that health and wellness programs work well together with your yoga studio.
for start you should build programs together with your current customers so you will have great targeted offering.
And yes as many of others suggested build lists and communicate to current clients about news. Maybe start loyalty program - you can find great tools on the net (check this out http://upcity.com/blog/top-20-loyalty-reward-apps-for-small-businesses/ )!
Hope this helps! You can reach to me for more support!
Hope you have great success,
Before you start talking to your current customers about a new offering, spend some time talking to your existing clients. Share with them your ideas, and find out what benefits if any, they would recognize from what your are considering. Don't rush to offering something new until you have some background on the problem it may solve for those wishing to consume your new services.
Many times businesses rush to offer something new without considering the problem it will solve or benefits it will offer. It is always easier to sell something people want vs. convincing you have something they need.
Hi, you received great advice on this post. Have you thought of asking your clients for referrals on LinkedIn or asking for leads. Don't be shy! Flat out ask for leads in every email and phone call.
In order to market to your services to your existing customers, you may wish to answer the following;
1. Did you develop these services to meet the changing needs or increasing demands of those customers?
2. Did you consult with them and what value do they place on the new services?
3. Can you offer these additional services without compromising other services?
If any or all of the above applies, you may organise a launch party or event and invite them to sample the new services. Take advantage of their custom and offer them a discount as loyal customers with further discounts for those that introduce new customers (who will of course, pay the full price).
Hope this helps and feel free to connect I can be of further help.
Michellyn since they are current customers you don't need to sell them (or squeeze more from them); you already have them. Educate them on the new offerings and provide them a taste of what you are doing. Consider offering them a charter or founders rate and in turn engage them as ambassadors to further sell your new services.
You should always be touching your clients, i.e. email blast, blog post, even snail mail. This helps when you have a new offering. If you haven't been touching them already you should start simply. Gather emails (call if you need to get them) and start a monthly newsletter. This is an easy (and inexpensive) medium to announce new offerings. I would then follow up with a phone call after to see if you can schedule a short meeting to explain your offerings in more detail. Good luck.
Which customers have been the most impressed by your service already? Do any of your regulars talk about your studio to their friends? I would personally start by continually impressing the regulars, perhaps offering discounts for a certain time period or to certain qualified customers.