Getting new customers is pricey and is also time-consuming. It has been shown that pulling new customers costs five times than retaining your existing customers. Making customers satisfied alone does not help. This is because it is nearly 60 and 80% of the happy customers who never come back to make another purchase. So, it is not child play to grow customers. You need to constantly look for ways to grow revenue from the existing customers.

Here we bring you a few ways to take revenue into account:

Market Research

Excellent market research and analytics is a great way to invite new opportunities within your existing customers. With an in-depth understanding of the market you supply, you can gain a lot about who your customers are and what they look for in any product or service. Thus, you can be clear about their thought processes.
Don’t Vanish

Consumers see plenty of options to choose from. But when they prefer your products or services over your competitors’, this is just great. But even after your first sale with them, remaining in constant touch with them greatly helps. Also, the same is applicable to the existing customers. Frequent follow-ups are required. Make sure you gather all the important details from the customer at the point of sale. Keep them in the ring about the happenings in your company. Make them aware of the company-related news through newsletters or emails.
Pay Heed to the Customer Needs

The small business owners have an edge over big businesses. Along with the services to the customers, you can also offer them a personal experience. This can further help you make out what more they expect. Once you are able to win their trust, the customers become more probable to open up about their needs.
Revise your Offerings

With the growth of the business, your offerings also change. It is the experience that can teach you about the goods and services that can fetch you benefits and which can cost you. You can request the feedback from your existing customers to make a decision on what things to get do away with. Eliminate the stuff that doesn’t sell, and focus on the products and services the customers want.
Build a Loyalty Program

Bringing products to the existing customers is comparatively easier when the customers feel valued. Offering a reward for preferring your business can surely get you, reliable customers.

Build a loyalty program for your business as this will persuade customers to come back and make purchases. With this program, you can keep track of the customer purchases and rewards. Provide them with some points every time they make the purchase. Reward them once they reach a set limit of points in the form of a discount or any free item. The loyalty program thus attracts customers to your organization, and this further increases your bottom line.