Advicelet benefits: Increases in revenue leading to continual small business growth

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You’ve no doubt heard of Pareto’s 80:20 rule… the team here is a big fan of it – there are so many ways that it can be applied in the field of small business growth.

It’s highly likely that in your business, 80% of this year’s revenue will come from your existing customers… and almost certainly 80% of that revenue will come from only 20% of those.

It’s sometimes all too easy to forget that your existing customers are in a much better position to buy new products and services from you than brand new customers. So much time and effort is often put into winning new customers, yet for a fraction of the effort, your current customer base could hold one of the keys to business improvement for your company.

In today’s advicelet, we examine four tips to get your customers to buy from you, (hopefully) forever. Some might argue you are already doing all this stuff and there’s no room for improvement – we will be the first to agree with you… if:

You really are using all four techniques … they are implemented in an semi-automated way to keep costs low … they are implemented regularly over a prolonged period … they are documented for anyone new to pick them up and run with them … and they are measured, reported on and refined.

It’s our belief, there’s always room for improvement.

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