Accessing and analysing your business data used to be considered a luxury.
But now it’s a necessity.
Work with your accountant to ensure you have this at your fingertips, so you can make the best possible business decisions.
In that case, here are some tips:
- Review your current product and service offering. Are you selling what you should be selling? Are your products ‘bundled’ and priced correctly? Important to be clear on this as you look for additional opportunities
- Classify your customers based on what additional products / services they may need from you. Some won’t need anything else. Some may need something… but not for a while. And some could be looking to buy immediately – that’s where you want to focus. Take the time to understand your customers’ businesses and their needs. Focus on their Lifetime Value (LTV) to your business
- Tidy up your communications. Make sure your website, presentations, social media and sales team all communicate the same message on what you can sell and deliver
- Make interesting offers to your customers. Don’t just try to sell them more. Make it compelling for them
- Expect to reach out repeatedly to customers. This is not a one-time deal. Track how they respond to your communication and tailor your future approach.
- Make a plan and follow it. Decide who will reach out to customers. When? How? Track your progress and do more of what is working well
- Get started. There’s no great time… but it’s always a good time to talk to customers. So, get on with it!