Tuesday , April 23 2019
Home / Business Structure and Tax Optimization / How to get more customers

How to get more customers

So how to get more customers. There’s three things you can do straightaway, so let’s talk about those. First, you can do different things to get new customers. You can also implement different strategies to get bigger orders from each customer. And you can see how you can get more orders from your existing customers. Now, I’m making a couple of assumptions here. First, I assume you are targeting a market that is hungry for the solution you are offering them. I also assume you have a killer product solving real problems. And I assume your customer service really rocks. And I assume you know exactly why your solution is better than any of your competitors. If your answer is no, or well, not really, then stop this video and see my videos on why the above is key first. Because there’s no point in optimizing your sales process or getting more sales if you didn’t fine tune those four steps first. Okay? So if you’re good to go, let’s go to the next slide.

So first and for all, different strategies that you can implement to get new customers. Now you see that I put different strategies here. There’s a lot more of those but these are the ones that we use on an ongoing basis, and they work really well. There’s old school telemarketing, which still works really well. If you do telemarketing, by the way, or cold calling, or something like that, I suggest you do it in two different steps. Step one is to qualify the person to qualify them as a potential lead, and step two is to do a different call with a different script to actually sell them something. Don’t try selling straightaway to people that don’t know you because you want to build a relationship first. You can implement different social media marketing strategies. You can work with Twitter, Facebook. Websites like LinkedIn, for example, are great to generate B2B leads if you are selling B2B. You can implement different SEO strategies. You can network both online and offline. Online networking actually is a really nice way of getting more customers quickly. It’s kind of the same as the traditional offline events and happenings and meetings where you go to. You can just do it now quicker and more efficiently online using business social media platforms. There is a lot of referral marketing, meaning that you put a system in place where your customers send you referrals from people they know. Now I know, some of your customers might already do that, but the question is, do you have a system in place? If you don’t have a system in place, then it is more waiting for your customers to do so. When you have a system in place, you can expect about 3 to 5 referrals from every new customer, and by doing that right, I always say there is not much else you need to do, just focus on getting new customers referred to you by your existing customers.

Alright, what you also can do is take a look at review sites, use them to market your business. You can work with classified ads. You can set up free targeting, pay-per-click, content marketing, press releases, joint ventures, affiliate programs, solo ads. You can even buy competitors. Now let me talk about this for just a second. A lot of people always think, “hey, i need to develop new strategies.” No, if you already have a good business going and you have some capital, you have some cash that you can use, why not look into local competitors and buy their company? And that way acquire not only their tools, know-how, and team, but also acquire their customer database. Often that’s more efficient and quicker than implementing all the new strategies. Now, if you don’t have the cash to do so, then take a look at the other strategies. Now, we can talk for hours on each of those strategies and I have several videos on most of those, on how to do it and how to implement it. Or just shoot me an email, as you’re maybe used to by now, just shoot me an email and I’ll be more than happy to help you. But what is key. Always take one at a time. Pick one, implement it, optimize it, and once it’s running, then repeat, meaning pick a second one, implement that, optimize it, etcetera. Don’t do everything at the same time. You will just be very very busy, without a lot of results, so take one. Do it one at a time.

Alright, the next one. In my perception, the fastest way to generating more revenue is just to increase your price. Now I know this might sound funny, but seriously, increase your price until it hurts your margin, not your general sales. Now what that means is this. Let’s say you sell a product for a hundred dollars. You make twenty dollars profit on it. Now if you would sell the same product for two hundred dollars, you would make a hundred and twenty dollars profit. Does that make sense? So what you want to do is, you want to take a look at how you can increase your price without it affecting your margin. So let’s say, for argument’s sake, you sell at a hundred, your margin is twenty. So let’s say you increase your price to a hundred and fifty. Now your margin is a hundred and seventy, alright? Now let’s say you have ten percent less sales, but you do have seventy dollars margin instead of the twenty, right? So it’s totally fine to lose ten percent of customers because you will still make more profit at the end of the process. So that’s what I mean, you need to focus on margin. If you double your price and you lose half your customers, you still make the same amount of money with half the work, so it’s really something to think of. I often talk to my customers as well and they always are scared of doing so. Now I always say if you are not a Fortune 100 Company, meaning there is no way you compete with price negotiations with Fortune 100 Companies, you can not just sell on volume. As a small business, you want to focus on being the expert in a specific niche, being the expert in a specific type of work, and just charging expert pricing. Yes, you will have less customers, but you will make more money per customer, okay? So focus on margin, not focus on general sales number. So once you reach a point that you keep increasing your price, you increase it with ten percent, twenty percent, every week, every month, and you keep increasing it until you see, hey, here I’m starting to make less margin, then you tune back a notch and you’re selling at market value, not cost plus margin. Most people, and maybe you as well, you define your sales price as the cost that it takes for you to acquire the product or the service or to do the service and you add a little margin, okay? Now, often you are underselling the value of your product. What you want to do is you want to sell it for what people are willing to pay for it, you don’t want to sell it at what your cost plus margin is. So, give it a try, and you might get an interesting experience to share. Now, to be clear, you only do this for your new customers, okay? Your existing customers, you just leave them as is, and what you can tell them is something like this: “Hey my dear customer, I am currently increasing my prices to a hundred and fifty dollars instead of a hundred, but as an existing customer, you can still buy them at a hundred dollars for the next six months, or for the next three months, or something like that. That way you don’t have to worry about losing your existing customers, you can sell at the current pricing, and you already informed them that the price will go up in six months or three months from now, and they will feel that they get more value because they get hundred fifty dollar product for only a hundred dollars, okay? Now we have specific scripts for that, if you want some help with it, just shoot me an email, but try increasing your price, even if it’s just a little bit. You will receive more margin for the same amount of work, okay?

The next thing you can do to get bigger orders is to upsell and cross-sell. Now upsell is simple. You want to build a sales funnel. Too many people, they just sell one product and that’s it. Now the easiest person to sell to is the person that just purchased your product or your service, so what you want to do is you want to always have a next product ready. So let’s say that the person, your customer, buys a hundred dollar product from you, that’s great. Make sure you have a two hundred fifty or five hundred dollar product ready to offer them afterwards. If they buy a four or five hundred dollar product from you, that’s great. Make sure you have a fifteen hundred dollar product ready, a five thousand dollar product ready, a ten thousand dollar product ready, etc, etc, okay? I would suggest you want to have a sales funnel of at least five, and if possible, seven or eight different products, that go all the way from your low end, at maybe ten, twenty, fifty dollars, all the way up to the high end, of maybe ten, fifteen, twenty thousand dollars or higher, okay? Now you might not sell a lot of those, but that’s fine, you know? There’s two main things of doing that. One, you will sell a few of them, and they will create a lot of extra revenue in your business. And by having a ten thousand dollar product, all of a sudden, in comparison, your fifty dollar product will be very cheap, or will have the appearance of being very cheap, right? So that’s what you want to do with upsell. So make use and optimize upsell scripts and rebuttals and make sure you ask for the upsell. If you don’t ask, you don’t get it. If you do ask, you will get it from time to time, alright?

Cross-sales, the same thing, offer related products. If you don’t have related products to sell, ask your friends and colleagues, or find online different platforms, where you can use other people’s products that you can sell for a commission. How it goes is very simple. Let’s say you sell a specific product in a specific niche, so let’s say for example, you sell solar panels, okay? Now what you want to do as a cross-sale is, let’s say you sell solar panels specifically to put on a roof or to generate hot water or something like that, right? Then a cross-sale might be that you work together with people selling the installation of a pool or yard houses and things like that. Because what happens is when you are there to install your solar panels, you will talk to people, because maybe they want solar panels to heat their pool, or maybe they have plans of building a pool. So then you can take that lead, give it to the guy that sells the pools, then you might get a nice commission, a percentage of the sale each time he generates it. So you don’t need to start different types of businesses. You can just take the lead of your customer, present it to a business partner, they will sell their product, and you can let it go either way, because the other way works as well. He can sell a pool and maybe he can upsell them a solar panel to heat the pool or the water of the pool and give that lead to you, okay? So upselling, cross-sale, make sure to have the funnels in place. What you want to do, is you don’t want to have a one-off item or a one-off task. You want to make sure it’s a system, alright?

Next, what can you do to get more orders per customer? First and for all, overdeliver. It’s very simple. If you do what people expect you to do, they will be okay, alright? If you want people to come back to you over and over and over again, there’s only one thing you can do and that is do a little bit more than what people expect, meaning overdeliver. Now, if you don’t want to do more than people expect, promise them a little bit less, do what you normally do, and automatically, you’ll be overdelivering too, okay? Promise less, deliver, overdeliver, alright? So how can you do that? You can keep in touch through email marketing. You can make reports on results and add suggestions on improvements. You really have to realize that everything starts after the sale is made. A lot of businesses think that once the sale is made, they’re done. No, the process, the relationship with your customer just started. You want to build and strengthen the relationship and you want to ask for the order, okay? Make sure to ask. If you don’t ask, you’re not getting it. Next, if you’re looking for extra resources, or if you want a helping hand, just as always, click on the link below this video. It will take you to a page with more resources for you, more videos, more articles that you can take a look at, or just shoot me an email, and I’ll be more than happy to point you in the right direction, or help you out, setting up a sales strategy that gets you more customers, alright? So click on the link, and I’ll talk to you soon.

Check Also

Creative Tax Planning

Creative Tax Planning, How is that possible and how will it help me? To some …