Without clients, there is no profit and without profit, there is no money to pay yourself, pay your team members, or pay your business expenses… You must have profit to keep your business doors open.
The more profit you have, the more good you can do in the world by helping your favorite charity! You can share that profit!
How can you accelerate your profits?
Here are 7 tips you can use to accelerate profits:
- Customer service. Provide great customer service to your existing clients. Do you answer emails or phone calls promptly? If there are technical issues, are those resolved quickly? Go above and beyond what is expected and take the extra step with your clients so they feel special. I ordered something online in November and when I got my package, I had a handwritten postcard that said:
“Hey Jama!! We are a little to [sic] biased but you’re great! [May your bottles be never-nude.] the freakerteam”
- Referrals. Ask your happy clients for referrals and give them an incentive to provide referrals. In my book, Marketing for Small Businesses: Creating an Amazing Referral Program, I talk about setting up a successful referral marketing program, no matter what type of business you are.
- Testimonials. Again, ask your happy clients for testimonials. Send them a few questions that they can answer and then draft a testimonial for them. The client can approve the testimonial or even better, shoot a video. Social proof is a great thing!
- Know what your market wants. Don’t spend time spinning your wheels and guessing what they want. Go straight to the source — send out a survey to your email list and post on social media to find out what your audience is really interested in and what challenges they’re having. Once you know, create the program for them.
- Marketing funnels. Previously we talked about generating leads and cultivating prospects, so you know already about getting leads and prospects, but now you need to make sure your marketing funnel is in place. Give people the OPPORTUNITY to buy from you! You’ve surveyed your audience and know what they want, now you can create some different priced programs and lead them along with the way. Someone who purchased a product that’s less than $20 is likely to purchase something that’s several hundred dollars and so on, as long as they’re getting value from you. You want your products to easily feed into one another and build on one another in a sequence.
- Upsells. Along the lines of creating your funnel is also upsells. Let’s say you sold a do-it-yourself type program, how about creating a done-for you program that you then upsell to the new client that says, “Hey, would you just like us to do it for you? Here’s how it works…” This would be something that you could do a couple of weeks after they’ve purchased the do-it-yourself. “We often find that our clients think they’ll have time to do-it-themselves, but in reality, they seldom do…”
- Pay attention to the data. Marketing isn’t about throwing spaghetti against the wall and seeing what sticks – well, in some ways it might be!! But, even when you throw spaghetti on the wall, you can visually look and see what stuck! You want to be sure you’re reviewing your data and optimizing what you’re doing. Split testing is a great way to do this. Test and tweak and test and tweak some more!
If you want to talk about your specific business needs, click here to schedule a call or share with me below!