There’s really only 3 ways of GROWING YOUR BUSINESS, and although there are many variations, it comes down to these 3 Key Sales Areas:
- Get your offer in front of more potential customers
- Convert a higher percentage of the potential customers into paying customers
- Bring more service/value to customers; increasing your average sales and profit per client
1. There are many ways to get your offer in front of more people: Direct Mail, Web Traffic, TV, Radio, Print Advertising, JV Partner Promotions, Referrals, Testimonials. Even Acquisitions go under this heading. Maybe you do Trade Shows and Email Marketing, or have inside TeleMarketers or outside Sales Reps.
2. There are many solid techniques to improve your Closing or Conversion ratio: Tell a better story about your business, teach the client HOW to BUY your product or service (they really don’t know the best way to buy,) share Testimonials from other happy buyers, create an easy-to-follow step-by-step Process for them to see how you will work together, offer a stronger Guaranty and/or Warranty, share your Expertise, make your selling interactive, educate your clients about HOW and WHY you do things the way you do, create more compelling Payment Terms, offer Financing and creative Bundles of Products/Services.
3. There are lots of ways to increase the-value-you-bring and the profits you earn per client: offer a longer-term engagement, sell another Vendor’s product or service as part of your offer, Raise Your Rates, offer a greater quantity, offer a VIP program, provide extended warranties and other up-sells that your buyers will value and enjoy.
And what is amazing and brilliant is that small changes, multiplied together over time yield great results. Instead of thinking that you need to double the leads, or double your conversion percentage or double your rates (which seems quite challenging and maybe impractical); you’ll be happy to learn that you can double your income with only a 13%annual increase in each of these 3 Key Sales areas when you do this 2 years in a row. The chart below starts with the top row showing the math for a Baseline year. In Year 1 we increase each of the 3 items by just 13%, and then we do that again for Year 2.
So, by improving each piece A, B and C, by just 13% in a year and doing that for 2 years running, you more than double your earnings, or profits or income, depending on where you focus.
Doesn’t making 13% improvements seem easier to accomplish than doubling some result? That’s how it works!
If you’d like to discuss how this can work for you, simply request a Complimentary Session with this link:
and please answer a couple of questions about your business. I’ll reach out if I feel there’s a good fit and we’ll schedule our Free Phone Session.
Here’s to your Ease and Prosperity!