Do you Have a Customer Growth Strategy?
Hello Business Owner,
Would you like to grow your business? How about an increase in sales? I believe growing a business and making more profits depends on one thing: your customers.
Successful Business Have a Customer Growth Strategy
When your customers increase, so do your sales. The more satisfied your customers are, the more they will buy from you. The more customers you have, the better you can identify what you are offering to the market.
I'm a huge advocated of Eugene Schwartz's approach to marketing. Schwartz was a legendary copywriter who said, "When a private desire is shared by a statistically number of people, large enough to profitable repay selling to these people, a market is born.”
So yes, more customers equals more sales. And yes, happier customers lead to more purchases. But above all else, customers are the most valuable commodity in the world.
Ponder this recent event in the news: Snapchat turned down $5,000,000,000 from Facebook... why? Snapchat has zero revenue model. They are growing entirely on investor money. What does Snapchat and Facebook know that we don't?
I'll tell you: it's the list. Snapchat has users, data and a large customer list. A list so valuable it's worth more than five billion dollars.
Are you starting to understand the value in a customer now?
Customers + Strategy = Sales
If you grow a successful customer list, you will attract the attention of Zuckerberg, Gates, Slim and various other millionaires and billionaires. The reason why a list is so powerful is because it can be used to generate revenue, whenever the "switch" is pulled.
Just like when Facebook, Twitter and LinkedIn started advertising. Even though users complained, they still use those services, a lot. The reason why is because those services provide a vital means of networking, revenue and ton of other other benefits.
I'm not just talking about tech businesses either. There are sophisticated strategies in place for Starbucks, McDonalds and even Mom and Pop shops. A well done customer growth strategy should be used with any kind of business that wants to make more money.
Want The Simple Truth Behind the Value of a Customer List?
It converts well. When you have a list, people like me can come in and "fine tune" your sales funnel. When your sales funnel is in place, you can "mine" your list for profits, growth and information.
There is a way to create a sales funnel process that is both strategic and simple to understand. This process will create a niche audience that will convert better than archaic methods of trying to sell everything to everyone.
Before I get into that process, there is one thing to know that you must not do. Doing the thing below is a sure-fire way to halt your customer growth.
Customer Growth Problem: You Are Too Focused on You
One of the biggest mistakes that business owners make is they are too focused on themselves. Let's get one thing straight: your business is not about you! Your business is consists entirely of your customers. All you are is a way for them to get what they want. Without your customers, you don't exist.
Too harsh? Sorry. That's the reality.
How to Solve The Problem of Being Self-Centered
Talk to your customers. Ask them why they bought from you and not anyone else. Get to know exactly what problem you solved for them. By doing these things, you will find that they will give you information you can use to sell more products or services.
It really is that simple, yet most businesses don't do it. They fear sounding too needy if they reach out to their customers. They feel as if they shouldn't have to get the opinions of people who buy from them. They feel "above" their customers, like a King in a castle overlooking a village of common folk.
This won't work from 2014 and beyond. People are far too connected now for you to be behind the curtain, pulling strings. You have to approach your customers before someone else does.
Most Businesses Do Not Have a Growth Strategy
It pains me to see businesses barely get by. They are like a wound-up-toy let loose on the table, running into objects and eventually falling off. Some businesses get up, and keep going.
Some lose their business, car, possessions and everything they've built.
If only they had a proper growth strategy in place, they could have not gone through so much hardship.
Customer Growth Strategy is Easy
Don't let the words "strategy" fool you. It's just a word that describes the process. And it really is a process, with crystal clear steps laid out for you to follow. These steps include the 5 major components to growing your customer list. Each of the steps can be attributed to real life examples of major companies.
Simple changes in your sales funnel could literally produce results by the next day. For example, having a "micro-offer" that puts a prospect into a customer role. A micro-offer is paid sample that gives your prospects a taste of your business. It is important to make prospects pay for it, even if the amount of insignificant. Having a "ramp up" offer likes this helps you discover which of your prospects are really interested in you.
Once a person commits to paying you, they are way more likely to pay you again. As long as what you deliver is valuable to them, it's not uncommon for a $10 offer to lead to one worth $10,000 later.
Once Your Customer Growth Strategy is in Place...
You will have new problems... but they will be the good kinds of problems. Problems like keeping up with demand, hiring more employees and moving into a bigger office. And while these "problems" are taking place, your customer growth strategy will continue to propel the success of your business.
If it ever becomes too much for you to handle, all you have to do is decrease spending on leads. Note: I said decrease spending because you want to slow down. Isn't that so much better than decreasing spending on getting leads because you have to?
So Who Am I?
You might be wondering who I am by now. Even if you like what you've been reading so far, who a person is makes a difference. I've been offered some valuable products and services, but I disliked who was offering them. The identity behind the selling is in most cases more important than what's being sold.
Allow me to give you a brief summary of who I am.
I've always been passionate about communication, but growing up I never knew how to put my passion into practice. I grew up "slower" than most people; I refer to it as being patient. I just like taking my time in most situations.
Throughout my 20's I took junior college classes while working part time jobs. I had to support myself since I moved out at 18. Landing a well paying full time job was hard, but I got by. I understood what it meant to be a minimalist.
In Junior College I took public speaking classes. I figured this would be a good skill to have in life. And boy, was I right. When I gave my first public speech, I was really nervous. However, once I was done giving the speech, I felt so much better. "That wasn't so bad," I told myself. I kept giving more and more speeches, and eventually I made the decision to study communication.
This subject was, and still is, a blast for me. The things I learned made sense. I did well in college; I graduated on the President's list with a Communication Studies degree with a concentration in Interpersonal and Organizational Communication.
In college, I studied things like rhetoric, leadership, relationships and organizational communication. All of these concepts involve social psychology, or in other words, how people think, act and influence each other.
Since I graduated, I have been working as a freelance copywriter. Every month business has been better than the last. I'm very happy to be using my skills to help people sell their product, service or idea.
If you want to ask me a question, shoot one to me on my contact page. I want to bring the focus back to growing your customers now, and how you can benefit from it.
Here are Some Examples of a How Customer Growth Strategies Being Used
One of the ways to acquire customers is to offer a majority of your products or services at cost. This is something that a lot of businesses don't do. After all, what they teach you in college is to lower your cost, maximize your price. That is not the only way to grow your bottom line. Let's look at how Best Buy sells at near cost, and makes money from services.
If you go to Best Buy you will see a ton of electronics at low prices.. Best Buy does not make money from selling you a laptop. Best Buy makes their money from warranty plans, Geek Squad and other services like installations.
When you offer a "core sale" at near a cost price, you will attract your competition's customers. People want to save money - nothing new there. Just look up "Black Friday fights" on YouTube, and you will see the awful side of consumerism.
People are literally fighting each other for a good deal. Why don't you free them of all the kicking, yelling, tasers and other nonsense that people put themselves through for a deal?
If you do, you will bring them into your store. They will come back to you for that good deal, and they will definitely be interested in what other services you have to offer.
Here's another example. Did you know that Starbucks is the number one seller of CDs? Yes, CDs. Remember those? Starbucks sells these things for $16 at the checkout stand. Why would anyone pay $16 for songs that they can download for free or purchase for just a few dollars?
Convenience. Starbucks does a lot to get you into their store. They know that once you are in there, they can sell you CDs, $600 espresso machines and a variety of other products.
All Best Buy and Starbucks is doing is implementing strategy to their customer growth. You can do the same with your business.
Want Some Help?
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