«Return to Blog List Selling More to Current Fans with Case Studies
You’ve probably heard most of these stats before. Current customers are significantly more valuable than new customers.
- Acquiring a new customer costs 5 to 10 times more than retaining one.
- A 5 percent increase in retention yields profit increases of 25 to 100 percent.
- Repeat customers spend 67 percent more, on average.
- Twenty percent of customers account for 80 percent of total revenues.
Think about it. These customers already know your products and services well, and are (hopefully) very pleased. It’s a fan base that’s receptive to hearing from you – especially when you talk about solutions to their problems.
Yet how often are companies using customer success stories to upsell solutions to already happy customers?
A CRM software company created a customer case study featuring the success of one branch of a major nationwide mortgage company. The branch had become the number-one location in the country due largely to productivity with this software.
Using a story on that branch, the software company got in the door with the leadership at national headquarters. That led to talks to take the software to more branches nationwide.
It’s just one example of leveraging a customer story to expand business with a current customer.
Here are various ways that businesses can use customer success stories to grow sales with existing customers:
- Up-sell or cross-sell different products and services to the same customer
- Feature one division of a company and then share that with other divisions in the same company or organization
- Highlight the success of one location of a company to share with other locations
If you’re only using your best stories to attract and sell to prospects, then you’re not getting your full return on investment on a case study.
Can you share any great stories of using case studies to sell more to current customers?