8 Different Ways to Bring in More Business from Existing Customers When the Holidays Are Coming Up

Your business has the best part of the year to prepare for the next holiday season. During that time, you should look at various ways in which you can bring in more revenue in the run-up to the holidays.

For instance, your existing customers can significantly contribute to generating more revenue, as long as you target them in the right ways. So, check out the following eight different strategies that you could utilize.

1. Keep in Touch with Your Existing Customers

You are more likely to gain more business when the holidays are coming up if you regularly keep in touch with your existing customers throughout the year via things like email newsletters, social media posts, and customer surveys.

When your business is often on the minds of your existing customers, they’re much more likely to purchase from you.

On the other hand, if your customers don’t think about your company much, they’re more likely to shop with competitors when they need to buy products or services in the run-up to the holidays.

While there are various ways of staying in touch with your existing customers, using email marketing techniques, such as sending out email newsletters on a regular basis, is perhaps the option that works the best, as you can get information about your company delivered straight to their inboxes.

As long as you use strong subject lines and engaging content, your company can be at the forefront of existing customers’ minds when they want the types of products or services that they require.

2. Analyze Your List of Existing Customers to Identify New Opportunities

By looking at your current sales and customer analytics, you can attain hot leads within your existing customer base. You can also use market research to hone in on customers who may need the products or services that your company provides.

Once you have completed analyses, you can find new opportunities that your existing customers may be interested in. For example, if a customer previously purchased software from your company, he or she could be interested in buying the add-ons that you offer.

Quite simply, the more time you spend analyzing your current customer base, the more you can identify new opportunities to generate more revenue when the holidays are coming up.

3. Identify Ongoing Customer Needs

You can also use sales analytics to identify the continual needs of your customers. You can then adapt your products, services, and marketing strategies accordingly. Begin by looking at specific problems that customers face and which personalized experiences you can provide to your customers.

In addition to using analytics, you could use polls and surveys to drill down into what your customers are really looking for.

The more that you identify the ongoing needs of your customers, the easier it will be to alter your range of products or services accordingly and bring in more business as the holiday season approaches.

4. Refresh and Expand Your Products and Services

Following on from the last strategy, by doing things like analyzing your list of existing customers and identifying ongoing customer needs, you can refresh the products or services that you offer to better cater to your current customers.

But you should also look at expanding your range of products or services to cater to both existing customers and new customers.

Look at recent and new trends and spend time understanding the changing face of your sector. In turn, it will be easier to identify which items you should and shouldn’t sell to help you maximize profits in the run-up to the holiday season and beyond.

5. Provide Discounts and Special Offers to Your Existing Customers

By providing existing customers with special offers that are unavailable to others, you can significantly increase sales in the run-up to the holidays. You can further engage customers by doing things like sending a physical greeting card with a money-off code.

Customers love the personal approach and having something tangible in their hands. So, the more personal, attractive, and engaging your card is, the more likely it is that your existing customers will take advantage of your offer.

Also, when you send personalized greeting cards to your existing customers, they’re much more likely to think of your company as a business that cares. In turn, you can achieve a higher degree of customer loyalty.

6. Train Your Team in Cross-selling and Upselling

You can generate a lot more revenue when the holidays are coming up by cross-selling and upselling to existing customers. So, make sure you train your team in how to cross-sell and upsell.

Your team needs to understand the difference between cross-selling and upselling, too. The former adds to a sale via additional lateral products that complement the customers’ purchases whereas the latter is about selling customers upgraded or enhanced versions of products.

When your sales team is able to demonstrate to customers that they can get additional items that will benefit them, your business can generate a lot of additional income. So, don’t underestimate just how profitable cross-selling and upselling can be.

You can use the approaches for new customers as well as existing customers, but existing customers, who are already loyal to your company and happy with your products and services, are more likely to buy additional items than brand-new customers.

Remember, you not only need to look at products and services that would be great to use for cross-selling and upselling opportunities. It’s also crucial that your sales team is trained correctly in how to cross-sell and upsell.

7. Bundle Your Products or Services

Your existing customers are more likely to spend more if you bundle products or services together for a cheaper cost than those products or services cost separately.

So, spend some time looking at which products or services would go well together as bundled packages and then work out costs to find out what combinations would be most profitable for your company.

For example, if you run a clothing retail business, you could bundle pants, sweatshirts, and jackets together.

Bundling products or services is a great way to generate more interest among your existing customers as well as new customers in the run-up to the holidays.

8. Leverage Existing Customers to Get Referrals

You should look at ways in which you can leverage your existing customers to get referrals.

Word-of-mouth marketing and recommendations can be a powerful way of getting new customers. And by giving existing customers something in return for their help in referring new customers, such as limited-time discounts, you can simultaneously generate more revenue from your current customer base.

Leveraging existing customers to get referrals is a great way of creating a replenishing pool of customers and new revenue streams during the run-up to the holiday season and beyond.

Summing Up

By planning your marketing strategies for bringing in more business from your existing customers next holiday season early on, you can identify the best strategies to use for your specific company and sector.

So, to recap, you should consider:

• Keeping in Touch with Your Existing Customers.
• Analyzing Your List of Existing Customers to Identify New Opportunities.
• Identifying Ongoing Customer Needs.
• Refreshing and Expanding Your Products and Services.
• Providing Discounts and Special Offers to Your Existing Customers.
• Training Your Team in Cross-selling and Upselling.
• Bundling Your Products or Services.
• Leveraging Existing Customers to Get Referrals.