It is common for businesses to want to target new clients once they have introduced a new service. Creating new services is an opportunity for you to target new markets and potentially expand your customer base. However, by doing so, you are missing an entire group of potential clients who have already proven that they will buy from your business.
This group is made up of our existing clients, and they are more valuable to your business than prospective clients because they have already shown their trust in your services. In fact, studies have shown that existing clients are spend 33% more than new clients, which means they are a group you should include. When you start forming a marketing plan, make sure you are offering new services to current clients.
It is always beneficial to recognise the struggles and needs of your individual clients. If you have this information, you can make use of what you understand about your clients to prepare an individualised marketing plan for them.
If you become aware of an existing client that requires your new services, help them connect the dots by introducing your new services and showing the client its benefits. Be specific in your explanation and position your new services as if they will advance your client to the next level.
Use your website to educate
If you have a website for your business, use it to educate your current clients on the new services you are offering. When highlighting the benefits of the new services, go beyond price and into more detail about what the services are and how clients will benefit from using it. You can express this through case studies, testimonials or statistics that place more emphasis on the benefits rather than listing details.
Offering new services to current clients before finding new clients is more beneficial to your business. Place emphasis on the benefits when you reach out to those already invested in your offerings, and they will likely invest in your new services too.
Amjad Khanche is an Australian business entrepreneur, investor and technology enthusiast. He has over 20 years experience starting and developing multiple business. He shares his experiences from growing up in India to working with clients for 9East Marketing Services, where he mentors businesses to improve growth.