If you had to choose between five new clients and subsequent sales this month, or five existing clients who bring you repeat business and subsequent sales this month, which would you choose?
They appear to be the same, right? Well, they aren’t.
At first glance, these two scenarios hardly seem different at all. Five sales is fives sales after all, and as long as you are making money, you are doing well.
Right? Well kinda…
Of course neither scenario is “bad.” New clients and customers are always positive for your business and you will need to continue to gain new customers as your business grows.
On the other hand, repeat business is certainly a good thing as well because it illustrates that your repeat clients/customers clearly have confidence in you and your products.
BUT… (and there is a “but”) five sales from five returning clients/customers is the better choice. And here’s why:
1. Repeat business can be easy to get. Through well-devised and strategically employed backend sales strategies, you will not only gain repeat business from returning customers, you will do so with ease and on a regular basis.
2. Returning clients/customers are generally happy clients/customers. Those five clients/customers wouldn’t be making additional purchases if they weren’t happy with those they made previously. Therefore, you can safely assume that a returning customer is a happy customer.
3. Happy clients/customers tell their friends. As your backend sales strategies grow, and become more effective, you will reap the benefits of customers drawn to make additional purchases and those clients/customers will share their positive experiences with others. Hence bringing you more customers and growing your client/customer base.
So, as you can see, if you focus on existing clients/customers, your potential for new clients/customers nearly takes care of itself!
Once you gain those new clients/customers, your backend sales strategies that are already in place will be equally as effective on them, and your business will grow and grow.
I know right now you are probably spending countless hours and energy focusing on gaining new clients/customers.
Consider a shift! In what ways can you leverage the client base you already have and “nurture” a buying relationship with existing clients and current customers? Think on this!
Clearly, having a back end strategy is beneficial to your business from start up to launch and beyond. Developing a sales & product model for bringing money into your business is a sure fire way to get to YES over and over the life of your business. It’s time to step into your profitable money flow!