Finding new customers is crucial to the profitability and long-term growth of a business. However, most entrepreneurs and business managers should not forget the power of a follow up and the huge potential for sales revenue from their current clients. According to a recent Harvard Business Review, selling to a new customer costs five to 25 times compared to selling to an existing customer.
An effective after-sales follow up strategy is an excellent way to increase revenue by selling more to current clients and getting referrals to new clients. The period following a successful sale is commonly known as “the honeymoon phase” when there are excitements on both sides (the buyer and the seller). The customer has just solved a problem or addressed a need, and your business has made a sale.
Make no mistake; this is also a vulnerable period. Your attitude can make or break the future relationship you will have with the client. This is why it’s crucial to have a well-thought-out after sales follow up plan. Download our recent guide and learn more about after sales nurturing.
Why is follow up so important in sales?
Add value and create a lasting connection.
Rather than just counting on promises during an initial call or meeting, an after-sale follow up can tell you where you stand with your client. Also, it helps strengthen the connection between your brand and the clients.
Sending an email or calling a customer after a sale shows that you are interested in forging a lasting relationship rather than just making a sale. This kind of goodwill makes clients happy, a reason they can choose to recommend you to their colleagues, friends, and family members.
Build trust
Part of your job is to reinforce your customers’ decision-making subsequent purchase. The process begins during the initial conversation, where you walk a prospect through the benefits of buying your product.
Even after they buy from you, encouragement should follow later in subsequent “thank you” calls or emails. It’s also essential to find out whether the customer is enjoying your products or experiencing any difficulties. This will help build trust. Remember, trust in a product or service may turn into long-term loyalty towards the entire brand.
Address possible difficulties on time
Sometimes, a client may experience issues while using a product. Most of these issues are often overlooked. No matter how minor an issue is, it can result in future cancellations, or the customer may choose to buy from your competitors. This could spell disaster for your company’s revenue. By proactively addressing such issues during after-sale follow up, you can minimize the possibility of your clients turning to your competitors for better products.
Be sure to encourage your clients to ask questions during the follow up calls or emails. Besides, responding to their concerns or questions, you are also letting your customers know that your business offers outstanding client support services, no matter the situation.
The ultimate goal of an after-sales follow up is to create a lasting relationship and turn a single purchase into brand loyalty. Based on the numbers mentioned at the beginning of this article, putting effort to complete at least five follow up emails or calls will bring 80 percent more sales than chasing after the same number of new customers.
Wrap up
In today’s dynamic marketplace, companies are continually developing innovative ways to attract customers and serve them. It has become crucial to maintaining a long-term relationship with your current customers. This is where after-sale follow up comes in. Download our recent guide to learn more about how to create an effective after-sales nurturing strategy.
