This Episode
Mark Stephenson & Marc Vila
customapparelstartups.com
CAS Podcast
ColDesi
You Will Learn
How giving away product can make you more money, not lessHow ColDesi’s “Bundling” strategy came about and how you can apply that to your businessWhat questions you can ask you customer that no one else ever does, than can double your business from an existing accountWhat it’s like to hear Mark and Marc talk in an echo chamberResources & Links
Marc Vila mentioned “Principals of Persuasion” by Rober CialdiniWe discussed the 2X Business Bundle (Stitch & Cut)Colman and Company BlogSuccess StoriesColDesi Learning CenterLeasing EquipmentThe WORST statistic we could find, and there are a lot of them available, says that selling to an existing customer is 68% less expensive to selling to a new one.
New customers don’t know what you do, what is available, what they want, how to talk about what they want AND what they can expect to pay.
Current customers will buy more and pay more. You have a trusted relationship. If you advise them to buy a better garment; they are more likely to do it. Compared to new customer more likely to haggle or expect a lower price.
They cost less to service and less time to complete orders – you know their wants, needs, pet peeves, sizing preferences.
You already know what they are worth – you know big their orders are, what shirts they buy, their budget, how much time they are worth, etc
During this podcast we’ll discuss the following 5 Strategies to Up-Sell and make more from your existing customers:
1. The Freebie – Sample on Delivery and Marc Vila’s Theory of Reciprocity (ok, not really HIS theory, but he’s going to talk about it.. so props). Why do they give away samples at the food court?
2. Anticipating Business Because you KNOW Their Business – When you are IN your customers business, when you know what they have going on, coming up and you know what matters to them you will be able to upsell.
3. Horizontal Marketing – How you can make more in more ways than you ever thought possible, all starting your current customers.
4. What Else they Buy – one of our favorite ways to plan expansion and add a few extra dollars to the bottom line while you do it. It’s a good one!
5. Next Order Couponing – when and how to use discounting to up sell and add to your business. Follow what the ecommerce guy says on this one – notes are encouraged.
Watch Us Recorded Live on YouTube
The post Episode 68 – Re-Upselling | Making the Most of Current Customers appeared first on Custom Apparel Startups.