"The best source of new business is old business" - David Ogilvy

Far too many businesses lose their existing customers because they are too busy drumming up new business.

The best way to grow is to keep your existing customers happy. Make them your prosumers.

Here are 10 tips that can help you grow new business from old.

These tips apply mostly to Business-to-Business (B2B) brands, but many apply to Business-to-Consumer (B2C) brands as well.

Many of these guidelines are quite obvious. But we often ignore the obvious.

If you are already practicing them, chances are you don't have time to read this article.

You're far too busy handling all the business you have, or, finding people who can handle all the business coming to you! (Just kidding. We can all do with new business.)

There is one important assumption in all this. It is that your current clients are very happy with your work.

If that's not the case, you really have two options. Change your line of work. Or redo the work, or your processes, till the majority of your clients are happy.

Chase Old Business, Not New Business.

1. Gather testimonials. We all know testimonials work. But we often forget to ask for them. Whenever current clients compliment you on your work, put it on record. Ask whether you may quote their comments on the success of your work.
2. Ask for references. Even more useful than gathering a testimonial you can quote is asking for a reference to be paid forward. I learned an early lesson in my business life when I heard a boss of mine tell a client after a particularly successful launch: "May I suggest a great way to thank this team? Tell two or three of your business associates how happy you are with our work." If memory serves me right, that one client gave us four new business leads that resulted in new clients.
3. Ask for introductions to other division heads. Most businesses nowadays have several divisions that work like independent profit centers. Once you have done successful work for one division, ask to be introduced to other division heads in the same organization.
4. Make your current clients look good in seminars. Get their permission to use the work you have done for them as case studies. Credit them by name. Nominate them for discussion panels. Be careful to keep sensitive information confidential. Push your client's success, not yours. There will be other potential clients at those seminars. And, they, too, will want to be made to look good.
5. Prepare 'elevator case studies'. These work as 'elevator pitches' and take about as much time to prepare. Once you have several such 'elevator case studies' handy, you will always have a story to share when you bump into a prospect at an airport lounge or a networking event.
6. Join the business associations your current clients frequent. Become visible by volunteering for the seemingly thankless official posts that all such business associations have. If your current clients frequent those associations, there are other potential clients for you there. Birds of a feather flock together.
7. Study your current customers. Most of these tips seem appropriate for B2B services. That's true. Here's one that is true for B2C businesses as well. Study the likes and dislikes of your current customers. Find out what they like doing -- besides using your product or service. Find out how they spend their time. Once you've discovered what interests them, avenues for reaching new prospects will open up for you. Your best new customers are likely to be very similar to your current customers.
8. Celebrate your clients' important business anniversaries and milestones. Make these dates feel special. Invite your client's business associates and the media. Invite the business communities that your client is not directly associated with. Keep your clients in the spotlight. Be the gracious host or the master of ceremonies. Make sure it is the client's stories that get told.
9. Be attentive to managers at all levels in the client hierarchy. One day they will become important decision makers in your current client organization. Or they will grow to be important decision makers in the organizations they join. At that time wouldn't you rather have them rooting for you?
10. Woo your current clients as if they were 'new business'. Make regular presentations on how they can grow their business once every six months, if not every quarter. Grow their business and you automatically grow yours.

Instead of chasing new business, chase old business. Those customers have a way of leading you to real growth.

I look forward to your thoughts.