Get a bigger slice of the cake

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Obviously securing new customers is an important way to increase sales, but that might involve expensive (and unpredictable) advertising and marketing campaigns. So don’t overlook the opportunity to sell more stuff to existing customers. Often this will provide some lower-hanging fruit.

You might want to consider:

  • Making complementary products easy to add
    (e.g. McDonalds: “Would you like fries with that?”).
  • Bundling a group of products together
    (e.g. McDonalds: “What about making that a meal?”). 
  • Offering extra highly-profitable products very cheaply
    (e.g. 
    McDonalds: “Would you like to ‘go large?’”).
  • Selling to existing clients more regularly
    (e.g. Hairdresser: “Your hair would look so much better if you come back in six weeks, instead of eight.”).
  • Selling additional products to existing clients
    (e.g. Solicitor: “So now that we’ve done your Wills, you should really make Powers of Attorney to make your protection complete.”)
  • Offering follow-ons
    (e.g. Roofer: “While I was fixing the tile up there I noticed your gutter was leaking. Shall I fix that while I have the ladders up?”).

Action:

See how many ways could you adapt simple messages like these to the circumstances of your business. Then select one and try it.

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Author: Businesswise Accountant

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