What's extraordinary about developing solid relationships with customers - whether consumers or business - is the value that results from the trusted relationship.
One company that has been especially good at using that to grow a number of areas of its business is General Electric, which is mentioned here.
The point is this: we can leave a lot on the table with our existing customers.
For example, when Jack Welch led GE, he understood that the manufacturing sector in the U.S. would come under increasing global pressure. In response the globalized the company and looked at ways within the U.S. General Electric could grow.
One of those was in developing new relationships with existing customers that dealt specifically with service areas. One reason he did this was service is a highly profitable business; they command big margins and adds significant profits to a company.
The point is to look at ways you can serve your existing customer base that goes beyond the core product they buy from you. Also look beyond simply serving that product only. They may have numerous areas unrelated to the core product that could be serviced.
This doesn't mean you have to move away from the purpose of your company and cause that to decline. Rather it offers tremendous opportunity to grow.
One simple way it could be done would be to talk to your existing customer and find out what else they're doing unrelated to your existing business relationship. Once you understand it, it wouldn't be hard to outsource services and get a monthly fee for providing the service.
Or you could create another division within the company and have them serve these new areas.
The point is there is a lot more untapped potential in existing relationships with our customers than we know. We need to find out what they are and agressively pursue ways to serve it. If we don't, someone else will.
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