Did you hear that Rolls-Royce announced this week that it is building five brand new buildings on its main manufacturing site in England?

So, I ask you, what was the driver for making this huge, expensive decision? Many of you would say it is to build new cars. That is far from the truth.

The reason why Rolls-Royce is taking on this huge expense is so they can build more customizable features without sacrificing the speed of production.

You see, their clientele is at high level of net worth, and there are very few new dollars going to come from new customers. Most of the new dollars are going to come from the existing clientele, who want customizable features built into their cars to match their unique desires, needs, and wants.

Let me put this in perspective: Rolls-Royce increased its sales from 2020 to 2023 by 17%. But of that 17% increase, 43% came from customizable sales. Their average selling price went from $350,000 in 2020 to $500,000 in 2023. Imagine how much more profitable they have become.

Think about this: When you try to sell to a new customer, 40% of that sale goes towards building that relationship. With an existing customer, you have already built the relationship. So whatever you’re closing in on for extra business doesn’t have the same cost to you as a new relationship. You will make more money and be able to put more money into the bank.

If you really want to grow your sales, remember to increase the basket size and increase the net worth of each client relationship.

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