The Power of Expanded Usage
I’ve often used the term “expand usage” a lot because it is important and quite often ignored by many businesses. For example, the restaurant that has a great lunch business: What is done to get those customers to come in for dinner?
Consider a very simple, mundane business like dry cleaning. We probably spend a lot of money each month at the dry cleaners, because most of my suits and shirts have to be cleaned after every day or so.
In all the years that I’ve been dealing with dry cleaners, taking in shirts, suits, slacks, jackets, etc., never once have I received a coupon for let’s say leather coat cleaning or drapery cleaning.
The insurance agent who sells us business insurance has never once attempted to find out about any other insurance needs. Other than sending out the company newsletter, my agent who has my car insurance has never once, in any way, attempted to interest me in other products.
Lexus, who has my car loan and never attempted to sell me the Lexus branded VISA card.
Everywhere I look, I see businesses leaving lots of easy money on the table by making no attempts to expand customer usage.
Let me state this. It is easier to sell more and more often to a happy customer than it is to get a new customer. And, generally, profitability increases when you sell more and more often to fewer customers than when you sell less to more.
Finally, your vulnerability to competition actually decreases when you sell more and more often to fewer customers because you will automatically be doing a better job of relationship nurturing.
These three facts mandate an emphasis on deliberately expanding usage by existent customers.
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