Hmm. It would seem I missed this as the next post. But I thought it important to provide to you what and how I do business.
So now we’ll get onto the second way to increase your business.
Have Your Customers Buy More Each Time They Come In – Also known as “Would You Like Fries With That?”
Amazon does a good job of this as well with their “Customers Who Shopped for X Also Shopped For …
And if you were to do this with every sale, you would see a huge impact on your bottom line with very little extra effort and no cost to you.
If you’re not sure on what to offer, check over your past invoices to see what was purchased. Or with your experience, what other items could you offer or bundle. At the very least, you could just ask your customers what else would accompany their purchase.
Then when someone buys something, you can refer to a sheet and tell them:
“Did you know others who bought that widget also bought this thingamajig? Would you like me to add that to your order?”
Give every salesperson the sheet and the script and watch what happens.
To make sure the salespeople do this, another simple sheet would be needed. In one column, place a tick that tracks the number of calls or inquiries, in the next column the sale amount, in the last column the upsell amount. At the end of the day, tally it up. You’ll find two things will happen:
1 – salepeople will ask these questions and track the results because that which gets tracked, gets done
2 – you’ll find your bottom line getting fatter
Try it for a month and let me know how well it works for you.
Later
Randy
There are only 3 ways to increase your business. Yep. Only 3 ways.
You don’t believe me? You don’t have to. Everyone is entitled to their own opinion. It’s just that opinions are opinions are like noses. Everyone has one. (I was thinking of using the other saying, but thought better of it – this time…)
So how does it work? What are the 3 ways?
- Bring in more customers
- Have them buy more each time they do come in
- Have them come in more often.
Pretty simple isn’t it? Simple in theory but very tough in reality requiring thought, planing, and action.
Most businesses focus on the first way. Bringing in more customers.
You must awlways be bringing in more customers because costs are always rising. You should be raising your rates or prices, but that discussion is for another day.
We are also not going to talk about:
- acquisition costs
- lifetime value
- testing
- measuring
- target market
- headlines
- copy
- offer
- guarantee
We’re just going to talk about how to get that phone to ring or get people to come through your door. In a word – LEADS.
- Referrals – probably the best and cheapest for lead generation
- Direct Mail – yes, it still works
- JVs – who is in a business that compliments yours?
- Local Newspaper Advertising
- Mass Fax – typically for B2B
- Write a book – yes you can for less than you think
- Postcard marketing
- Local newspaper advertising
- Fliers
- Press releases
- Sidewalk fliers
- Daily newspaper
- Radio & TV (if your product has mass appeal)
- School newsletters
- Buy a database
- Piggyback invoice mailings
- Fridge magnets
- Stickers & tags
- Networking
- Seminars and events
Now pick at least 3 (5 is better) and make a plan. How are you going to make it happen? And when are you going to make it happen? The when is the most important.
Don’t be afraid of failure. We are in the marketing game and it is not succes of failure but how well a plan worked. If you get no responses, that just means it needs work. Simple. And it the plan worked well, we need to find out how to make it work better. Again, simple.
No pass or fail, just either it worked or didn’t and figuring out why.
Next post will be about having your customers buy more each time they do come in. Or “Would you like fries with that?”
Later
Randy
Randy Stuppard is one of the most savvy business people that I know. He is known as "the guy who makes things happen."