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Want a simple, cheap and easy way to increase profit? Increase how often people buy from you!

It is very common for business owners to be so caught up in trying to find the best ways to gain more customers, that no one is thinking hard enough about how to increase their current customers’ average number of transactions. Yes, gaining new customers will most definitely increase profit, but think about this… your existing customers clearly already like what you do, which makes it about six times easier (and cheaper) to get a past customer to buy again than to acquire a new one.

Now, I want you to ask yourself this question…

How many times a year do your clients buy from you? How can you increase this frequency? And what will you increase this average to? It’s time to start devising the ways you can encourage past clients to buy from your more often. Get brainstorming!

Need a few ideas? Consider these…

Hairdressers often end their appointments with asking their client when they would like their next appointment to be. Not only does this lock in their next sale, but it also gives the hairdresser a great opportunity to build a relationship with their client and to get to know them more.  When you’re with a customer, be sure to position their next purchase as well.

Boost Juice is a company which any business owner could learn from. They have a very simple and easy-to-use membership program which gives their customers a free boost for every 10th visit. As well as that, they make sure to say thank you to their client by using the name that comes up on their membership card. This is a great incentive to encourage clients to come back and buy, as well as making them feel good by knowing their name.

Imagine how much your cash flow would improve if all your customers bought once more from you each year or quarter. You would be steps closer to your financial goals!

So here’s a note to leave you with… Have a good think about creating products and services that encourage clients to buy off you more often. Then be sure to proactively trigger more purchases.  It is a great way to build your business more quickly.

Need help brainstorming some ideas? Click here or call me today on (02) 9146 4439 to book an appointment with one of our coaches.

Till next time…

“Every contact we have with a customer influences whether or not they’ll come back…”

lead generation

It’s never too late to increase your lead generation!

Okay, so we’re three months into the year and how are things looking for your business? Are you doing as well as you’d hoped or could it be better? As we all know, action speaks louder than words and it’s never too late to plan for a successful 2017, especially when you look at implementing lead generation strategies that work for your business.

The first thing you need to do is think about your lead-generating strategies in 2016.  Did they measure up to your business plan and expectations? If you were less than delighted with the results, what’s your game plan to improve on that? It’s an important question that’s linked to the success of your business.

Bottom line: what are the methods you use to generate leads and are they working for you? For example, if you’re not looking at your existing customers as the first port of call to generate leads, this is something you seriously need to re-evaluate. Use your current customers as “crusaders” for your business, and you’ll very much be on the right track. If they like your business, it’s human nature that they will want to pass on their recommendations and experiences by word-of-mouth to their family, friends, acquaintances and so on. Be sure to prompt them with appropriate questions or promotions so that is activity is maximised.

So what’s the best way to implement lead generation strategies that work for your business? Customer service counts for a lot. Do your staff know what to say to your customers and how to say it? Do they know how to talk about your business? This can be an extremely valuable method of lead generation.

Its also vitally important for businesses to understand that you don’t just get customers, you buy them. When you have that mindset, you can begin to understand just what you need to spend on your marketing. What can you afford to spend (in marketing activities) to buy a customer? Now go and spend that amount as often as possible in ways that generate them!

Similarly, it’s critical to have an online presence for lead generation. Having this, and especially a presence on social media networks like Facebook, Instagram and LinkedIn, is a great way to market to potential customers without the concerns of outrageous costs while creating the buzz every business needs to thrive.

One of the greatest resources for generating leads for your business is other businesses. Working in harmony with other organisations that sell to the same group you target as customers, but sell a different product, can be incredibly beneficial to all parties, including the customer.

As you can see, actions really do speak louder than words and there are countless ways to implement lead generation strategies that work for your business; in fact, there are more than 80!

To set up the right lead generation and sales and marketing strategies for your business, speak with one of our coaches here or call us on 02 9146 4439.

5 Fast Ways to Convert more Prospects to Customers

Conversion…among the quickest, easiest and most controllable ways to grow your business!

 

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

“Conversion” is the percentage of people who know about you and consider buying from you who actually do buy from you. Of everyone who calls you or walks into your shop, how many buy something? Just tracking the answer to that question will get you on your way to increasing it!

 

Once you know your starting point, then you can start improving it. Here are my favorites of the 80 different conversion strategies:

 

 

1. Sales scripts. Have you scripted the most important parts of your sales discussions? The opening? The questioning? The close? Do those scripts employ effective rapport-building and persuasion techniques? Have you tested different scripts to choose the most effective?

 

2. Sales Process. What is the process through which you lead your prospects? Are there sufficient interactions to build trust? Does your collateral communicate the right messages to the right people at the right time? Are you employing the most effective methodology for delivering proposals?

 

3. USP. How clear, tangible and differentiated is your proposition? Do your prospects have absolute clarity about how their lives will improve as a result of working with you?

 

4. Guarantee. Is your USP backed up by an effective guarantee? Risk and the fear of making a mistake are among the most common reasons people don’t buy….how do you overcome this?

 

5. Testimonials. Are your prospects receiving sufficient evidence of the quality of your products or services, of how many people are using them and just how much they have benefited from them?

 

Any prospect who fails to buy from you has used up some of your time, effort and money…..the great news is that the frequency of this can usually be reduced quickly, easily and cost-effectively!

5 simple tips for building more “Raving Fans” for your Business

Raving fanDo you have a list of your Best Customers?  Those customers who are not only loyal users of your product and service, not only willing to recommend you, but can’t stop talking about you?  Your Raving Fans?  The kind of customer who leads your Word-of-Mouth marketing, without being asked?

Studies show that, of all the reasons customers stop buying from someone, by far the most common reason is perceived indifference.  On average, 68% of customers who leave, do so because they feel that they’re not recognized nor made to feel special.  This compares with the second most common reason – issues with your product or price, at 14% and the third most common reason – that they’re sold to by a competitor, at just 9%.

Ironically, getting good customers to stay, return and grow should be far easier and cheaper than finding new ones.

Furthermore, raving fans refer other clients to you and, typically, those other clients can be turned into raving fans too.

So what has to happen in your business to have more raving fans?  Here are five simple tips:

  1. Make sure you knowing exactly who your Raving Fans are;
  2. Ensure everyone in your business knows who those customers are;
  3. Deliver services to them in a way that makes them say “WOW!”
  4. Introduce a loyalty program, a VIP program or an awards program; and
  5. Implement a systematized way of recognizing your top customers and delivering ‘little extras’ to them.

Do these five things well and enjoy watching your Raving Fans drive your business forward!