This topic is a part of our double your sales series. You can register for our complimentary Double Your Sales with a Sales Funnel training by clicking here and registering.
It is the one thing that every business need and the best businesses do this very well.
What is that? It’s maximizing the value of every customer. Getting new customers is a lot of work. However, if you do a good job, what is a lot easier is getting your existing customers to become repeat customers. In fact, if you do this consistently, your business is guaranteed to grow. From where your business is today, you can grow your business up to 16 times what it is today using a customer value maximizer formula. If you double the amount of traffic you generate for your business, double the amount of leads, double the number of customers and double the amount that every customer spends with you during the lifetime of that relationship your business will grow exponentially.
To grow your sales, and have sustainable long-term growth in your business you need to have a solution for 4 areas.
Traffic: Without traffic, your opportunities to grow will be limited. To grow, your business needs to be seen by enough people in your target audience every day. Every time your business is seen by your target audience, it is an opportunity for a sale, therefore you need to have a strategy for getting more traffic online or in your store.
Leads: Once you have traffic, you need to convert that traffic into leads. What is a lead? You need that person visiting your website or store to provide you with some information showing their interest in your services. You do this by offering lead magnets to your audience to gauge their interest. Think about when you have been offered a free trial of a service like Amazon Prime, a free trial of your favorite software or a free download. What these companies are doing here is building a list of interested prospects. List building is an important first step in any successful marketing campaign. You need to have your own list of potential clients and using lead magnets is a great way to acquire this list.
Tripwires: Once you begin building a list, your next step is to create easy opportunities for your prospects to see what you can deliver as a service. The more confidence they have in you, the more they believe that you are able to help them. You can do this by offering tripwires. Tripwires are low price no-brainer offers. Offers that are so easy to accept that it if you are truly interested you have to say yes. Think about sales on Black Friday.
Every year retail companies all over the United States offer once per year discounts on their top products. It is the biggest sales event of the year, and also the biggest marketing event. The customers you acquire that day will be promoted to throughout the year, and will likely buy more items. Their experience from doing business with you in the past will be a big reason why they will consider shopping with you again.
Upsells and Cross-sells: Once you have won that new customer, you now have the opportunity to increase their investment into your company and your products. You are not in business to sell your services at a deep discount. You are in business to make a profit. Once a sales relationship is created, you now have the opportunity to promote your regular priced services. With every sale, you have the opportunity to also offer other related services. Amazon does that really well. When you are shopping on their website, they also share with your other products that can be used with the product that you are buying. This is upselling.
A common mistake many businesses make is to not inform their clients of other lines of services that they have to offer. When this opportunity is missed, your customers will shop elsewhere not knowing you also offer services in the other categories they are looking for.
Never miss the opportunity to promote products in different categories to your customers. This is cross-selling. You may buy books from Amazon, and they will attempt to upsell you on other books. They will also cross-sell to you by offering you lines of products from other categories, for example, clothing and electronics.
Are you missing an opportunity to promote your other services to your client? If your answer is yes, you need to start promoting those other services to your clients too, before they move on to other companies.
It’ all about emotions:
Have you ever watched The Price is Right? It is one of the longest running shows in TV history with one of the wildest audiences you will find on TV. It is a show that is designed all around the emotion of shopping and winning. Think about what a department store looks like during a big sale. Shoppers in this environment are usually in an emotional frenzy to get the products they want before it is too late. The most successful businesses know how to build an emotional connection with their customers. Have you spent some time thinking about what you want your customers to feel when they shop with you? If you are selling a product you are unlikely to get people’s attention. You need to sell an experience. If you look back at your favorite brands, they are focused on the experience and benefits that the product has to offer, not the product’s features.
Take for example this commercial by Axe. Targeting the male audience, the brand does not speak of the type of fragrance, but the experience of wearing their product. That is, the girl of your dreams will finally notice you.
This BMW commercial does not speak about how much horsepower their vehicle carries, nor how fast it gets to 60 Miles per hour. They speak specifically about the things that are important to their ideal audience.
The same for this Nike Commercial, where Nike makes a connection to their brand and the journey that their ideal customers go through to achieve their fitness goals.
When considering how you present your product to your potential customer. Think about the experience they are currently having, the experience you want them to have while working with you and the experience they will have as a result of using your product. Once you articulate that to your audience, you will experience more meaningful conversations with your prospects and these conversations will lead to sales.
These are great ideas, and to implement these ideas you need to think about your sales process holistically. Once you do, you need to create a sales funnel that seamlessly orchestrates the journey from prospect to customer, to repeat sales for each person that interacts with your business. It’s also recommended that you automate aspects of that journey so that you do not have to manually do all the interaction with your clients. This ensures that your communications happen regardless of how busy you get in your business. Get our free double your sales training videos to discover how you can successfully implement all the ideas mentioned above into your sales process.