3 Ways to Get More Revenue from Your Existing Clients

Hey, folks, it's Kimberly Haupsheid with Entrepreneurs Rocket Fuel. And today we are going to be talking about three ways that you can increase your revenue from your existing clients. That's right. Not chasing new clients, but creating new streams of revenue from your existing clients. All right, folks, if you haven't already joined our family, we would love for you to hit the subscribe button down below and give us a like or a comment. I try to respond to every single comment that comes into my channel, so. So personally or have one of my mentors respond to it as well. So please definitely subscribe, and we would be glad to engage with you. Also, if you haven't already joined our Facebook group, it's Entrepreneurs Rocket Fuel on Facebook. We would love to have you as part of the community. It's by entrepreneurs and for entrepreneurs, giving entrepreneurs the opportunity to get their business to the next level. So come join us. It'd be fun. All right, so let's talk about those three ways that you can increase your business and your existing revenue from or your revenue from your existing clients. All right, the number one way, the very, very first, easiest way that lots of people just do not do is they ask for referrals. All right? So you got to ask for referrals. So when you have a client and they engaged with you and they bought your stuff, now they already have the know, like, and trust factor with you. And that's really the key is, is being able to already have people that know, like, and trust you and leverage that as an opportunity for other people to. To have that same know, like, and trust factor already established and baked in, if you will. So if you have an existing client, a great way to do that is to pick up the phone and call them and say, hey, I know that you bought my book or engaged with my program or whatever. I just wanted to check in and see how you were doing. And do you know of anybody else that I should be reaching out to? Because my goal is to really explode this business so that I can make the impact that I was designed to make and that my customers can have the ripple effect that I am looking for to change lives and make amazing things happen in the world. Because that's why you're an entrepreneur. You're bringing a solution out to the world, and you want other people to be able to engage in that. It's not just about revenue, although that's a big part of it, getting compensated for what you do. All right, so you're going to ask for referrals and the best way to do that is to say, you know, I'm looking for other people who might need this product or service. Do you know of anybody who I might be able to reach out to who would also benefit from this? Now, you would be shocked at how many people actually respond positively from. However, even if one out of 10 people responds positively, that is a customer that you're going to be able to potentially have without doing any Facebook ads or anything like that. Talking to existing clients and asking them who else they might know who could use your product or service is a really phenomenal way. In order to get additional revenue from your existing customers, they're going to introduce you. Maybe if they do a warm introduction, that would be fantastic. If they just give you a name, that's fine. But you can also say, I'm definitely going to reach out to them. Thank you so much for the referral. Is it possible that you can do a little bit of a warm introduction? You can just let them know who I am so they don't think that I'm just reaching out to them out of the blue and some sort of spam person and that we can actually connect with them. That would be a huge help. Now some people may say, no, I'm not going to do it. But if you don't ask, you're not going to know. And the fact of the matter is more people than you think are going to say yes, will say yes. So go ahead and do that. So number one is ask for referrals. Number two is ask for a new order from them. Ask them how else you can serve them. All right, so if you have another product or service, you can take them down the journey of being engaged with you. All right, so if you've already sold them one thing, maybe you have another thing to sell them. All right? So your next sell them an additional product or service. So it's not necessarily an upsell. It's just, it could be even just a piece of information or it could be a video or it could be a course, or it could be another product or service that you have that's available that's at a less expensive price point. It could be more expensive as well. But even if it's less expensive, you are taking them on a journey to engage further for you more deeply with you and, and buy more products or services from you because they already bought the first one and they already have established that know like and trust factor. So we call it the reorder or additional orders or engaging further on the client journey with you. And that is a fantastic way. And lots of people overlook this. They're like, okay, they already bought, now I gotta go find new people on Facebook or by doing Facebook ads or advertising on the radio or television or whatever it is to be able to get new customers and new leads. Also, you know, it's an opportunity for you to be able to expand your relationship with the existing customers and then the more they buy, the more loyal they become and the more referrals you can get. All right, so, and then they know additional products and services that you have. So while the first product or service might not have been really fantastic for their brother, or their uncle, or their best friend or their neighbor, your second product or service might just be that. So definitely ask for the reorder and the opportunity to serve them in a deeper way or a more comprehensive way. All right, and then the third one is, is what if you don't have anything else to sell them? What if you are a one hit wonder and you only have one product or service and you're very, very focused on that. Maybe you have a software or something like that that you sell, or maybe you have a book that you sell and you don't have anything else other than the book and you are, you're just relying on book sales. Nothing wrong with that if it's doing very well for you. But chances are after your people have done the thing that they've done with you, with you, they actually need something else. Say for example, your book is on how to create an online course and if they read your book and they're like, yeah, that was really, really useful. But now I need to know which software or which program I should use to be able to launch my online course, or which learning management system to use or which, which funnel to use or how to be able to create that. So maybe you don't sell all that stuff, maybe you don't have a learning management system software, maybe you don't have all those other pieces. No big deal. What you need to do to create revenue is actually to take a look at what you are currently using and find out if you would recommend it. Like, if you like the product or service that you're using, then one of the easiest ways is to go to that product or service and say, hey, I have an existing client base that is asking for information on what to do next and the next thing that they need to buy is, is a product or service like yours. And I'd like to explore the possibility of an affiliate relationship with you to be able to generate new customers for you and to be able to bring new people to use your product or service because I like it so much. That is a really fantastic way to create an affiliate relationship. And oftentimes from the other side of that, I mean, can you imagine if somebody came to you and said, hey, I have an existing customer base and they need your stuff, I would like to introduce them to you. And you might say, absolutely, that sounds really, really good. I'd be happy to pay you a commission for finding those people or a bonus or part of the sale or something like that. And if they can bring you additional business, of course you would want to engage with them and pay them for that referral or benefit them in some way. So the same conversely goes for you as well. So you can go out and see what existing software or product or service that you are using so that you can refer it back to your existing customer base. Now you're serving them in a much deeper way because before they had that, they were stuck, right? They didn't know what to do. Now you have given them a product or service that can solve that problem and you're generating revenue not from this existing client, but as a result of having this existing client from. And you actually get paid from the affiliate that you are referring. Now, what if the affiliate that you're. What if the product or service that you're using you're like, I don't know, I just don't know if it's all that hot. I'm using it now, but it's not all that great. Or some of my clients might not use it, or some of my clients might need something else. Fantastic. Go and ask your existing clients what they did next. Ask them who else they looked into. So your clients that are stuck will say, yeah, I looked into this product, that product and the other product and then just get those names and information. Find out if you want to. If, like, go look on, on Google, check out their reviews, see who else is using them, what their strengths and weaknesses are. And then if you want to recommend those people and you feel like they're a good product or service out there, then you go create that affiliate relationship with those people and say, hey, some of my existing clients have looked into your products or service and they have some questions about them. But I think you're a good product or service and I would like to recommend you to my existing client base and in order to do that, I'd like to create an affiliate relationship with you. Now, maybe some of the people will not want to create affiliate relationships. Maybe they don't have that product or service available through an affiliate. That's totally fine. You can continue to refer them if they are a truly good product or service because you're serving your existing clients. But if you want to, you can continue to look and see other affiliates out there that will do that. Now, you may think, Kimberly, nobody's really going to do that with me. I'm just small. My, my answer to that is go ahead and ask. Because really the people who ask are the people who get the results. All you have to do is let them know that you have an existing customer base that wants to buy their product or service, and you will get amazing results out of that. So go ahead and give it a try. If you get turned down the first time, go ahead and call 10 more. You're probably going to get seven out of the 10. So my suggestion is to go out and do that. It is absolutely a phenomenal way to add income to your add revenue to your business from your existing client base. And that's just the Pareto principle, ladies and gentlemen. All right, folks, I'm Kimberly Hobscheid with Entrepreneurs Rocket Fuel. I sure hope that this was helpful to you and gave you some ideas of how you can generate some existing some additional revenue from your existing client base. If you haven't already, don't already have a mentor or a guide or coach or somebody awesome and fun to take you through the murky waters of entrepreneurship. I would love to work with you. You can go to entrepreneursrocketfuel.com apply, fill out an application, and you and I will get on the phone, chat a little bit about where you are and where you want to be, and we'll figure out something that's going to get your business to the next level. All right, folks, you can go to entrepreneursrocketfuel.com apply and I look forward to working with you. Cheers.