Sometimes business owners don’t know how big their customer base is. They may have a target audience but their product or service may appeal to others they haven’t thought of.

One Utah business owner, John Borkoski, saw his restaurant The Beehive Grill attract new customers and after he stared brewing his own root beer in addition to his own microbrews. What started as a beverage option for children become very popular and an unexpected source of revenue and customers.

As chief brewer, Jeff Van Horn, told the Salt Lake Tribune:

“We didn’t realize who our customers would end up being,” said Van Horn. “It sold well enough to spend more time on it and put more effort into coming up with new flavors.”

Today his recipe box has half a dozen carbonated sodas including black cherry, grape, orange cream and even pink pomegranate lemonade.

Van Horn estimates The Beehive Grill is probably going through 45 to 50 (5½ gallon) kegs of root beer a week. And as a result of their new offering, they’re attracting new customers.

Of course a restaurant is one thing. Owners can up with new dishes and recipes and know relatively quickly if it’s popular or attracting new clients

However, when your storefront is a website and you have a long and complicated sales cycle, finding those unexpected revenue streams isn’t easy. However there are three things you can do to get a better idea of other products or services that your prospects customers are interested in.

1. Pour over your analytics data

Look at how search engine visitors are finding your website. Why keywords and phrases are they using to find your website? Are they looking for a product or service that’s closely related to what you offer now? What pages of your website do they go to? What do they do once they arrive at your site?

With the right website data, you might discover an underserved market – one that your company could expand and move into. Remember, growing your business is about knowing what the customer wants – not what you think they want.

2. Talk to your sales team

Your sales team often has the most up-to-date pulse on what customers are asking for. Talk with them one-on-one and let them tell you what prospects are telling them. Are they looking for more than what you’re currently offering? Does the lack of a product or service costing them sales and affecting your businesses bottom line?

3. Talk to existing customers

Take some time to do informal surveys with some of your clients – especially those who may not be fully utilizing your product or service. Ask them what they like and don’t like about what you offer and what they’d like to see that could compliment your offering. If there’s a general consensus among customers, you might have found an new stream of revenue and a way to expand your business.

Two weeks ago, I wrote about the power of the word “free” and how it successfully lured me into entering a drawing for a free month of personal training at the local gym. I thought I’d follow up on what happened and show the importance of a timely follow-up by your sales staff.

The day after the drawing, a friendly personal trainer gave me a call and said that though I didn’t win the free month of personal training, he was willing to offer me a complimentary training session just for entering. I knew that the session would probably be followed by a sales pitch but decided to try it anyway.

The next day I showed up at the gym and after a talk about some of my fitness requirements, I went through an hour-long session with the personal trainer. It was a very good workout. The trainer worked my back and biceps hard and proved how valuable a personal trainer can be when it comes to achieving some of the fitness goals I’m currently working toward.

After our session, the trainer gave me a very good sales pitch: persuasive but not pushy. In the end, I didn’t sign up for personal training sessions – not because I didn’t see the value in their service but right now personal training sessions don’t fit into my budget. However, I did leave with a positive impression of the trainer and the fitness company he worked for. In the future, if the need for a personal trainer arises, that personal trainer and the company he works for will be the one I call first.

So what happens with the leads that end up in your sales queue? Are they followed up with soon after it arrives in the queue or do it takes days or weeks before someone contacts them? Even if they don’t become a customer, are they left with a positive impression of your company?

Usually when someone requests information about your product or service, they’re hoping to hear back quickly. They’re looking for a solution and have a decision to make and have most likely contacted several competitors. The sooner a sales representative can make initial contact with a prospect, the better it is for both parties. The prospect knows that they’re dealing with a responsive organization and your sales person can qualify them and decide whether they should become part of the sales pipeline.

And just because someone isn’t qualified or decides not to become a customer, they should still be left with a positive impression of your organization. You never know when their needs or situation will change and the product or service you offer might be just what they’re looking for.

How do prospects feel if leads aren’t followed up with in a timely manner?

In my next post I’ll share my experience with one company and how their failure to deliver on their promise to follow up on every leads in 30 minutes or less, left me not even wanting to talk to the sales person.