Stop Chasing New Customers. Do This Instead.
Reading time: 3 minutes.
As entrepreneurs, we have a natural instinct to look for more… more customers, more retail partners, more traffic. But what if, for the next month, you focused on getting more out of your existing network instead?
Here’s what I mean: Alongside my marketing career, I've been immersed in retail for well over 10 years. From working in stores to consulting clients and running over 50 pop-up stores from London to Vilnius, I’ve become passionate about getting customers excited to buy. What I’ve learned is that smarter, non-traditional strategies, like engaging with your existing network, often lead to more sales without increasing ad spend. Traditional marketing will also work, but it tends to raise costs without fully maximizing your current potential.
Today’s idea: Focus on working better with your existing customers instead of constantly chasing new ones. Yes, you need new customers, but take time to set up systems to improve your interactions with the ones you already have.
Here are some actionable tips:
If you sell physical products in retail locations:
Incentivize sales assistants: These low-paid workers hold the success of your business in their hands. Offer them personal gifts (from your brand or elsewhere) for achieving extra sales. Use a tiered system to continuously motivate them to reach better results and earn more rewards.
Create training materials: Regularly train sales assistants about your products. Visit stores or create simple videos explaining your product, brand, and unique qualities. Ideally, do both, as staff changes or forgets information. Passionate sales assistants = more sales.
Review your product displays in-store: make sure you have the best visibility, your product pops and everyone visiting the store notices it.
These actions are incredibly easy and low-cost, yet surprisingly few companies take the time to implement them.
If you sell products or services online:
Increase customer value: Look at your customer journey and find opportunities to upsell by offering premium products, complementary items, or customized versions.
Set up a referral system: Incentivize your existing customers to refer others. Make it easy, with minimal effort required, and offer great rewards. Not all customers will participate, but those who do will help you build a community of sellers promoting your brand. Here’s a post I wrote earlier about making your community work for you: The Best Thing I Learned from Crypto.
Task for today: Before chasing the next shiny new object, set up systems to maximize profit from what you already have.
With the busiest season of the year fast approaching, if you need help to make sure it’s a success, reply to this email. We can work together to make it your best season yet!
