Final Pieces to Doubling Your Business

DOUBLE YOUR BUSINESS - Final Chapter

Today we end our two-week series on doubling your business by using the power of 72 by identifying and discussing how to improve, by 15%, two  final strategies that contribute to the bottom-line.
 
To-date we have discussed: 1) Raising prices; 2) Improving your effectiveness; and 3) Improving your marketing materials/copy.   While there are many strategies that could be added to get you a total of 5, let’s keep with simple and powerful.  So today, let’s add-in strategy #4) How to increase your customer’s frequency of purchase; and 5) How to increase referrals 15%.  

Help Your Customers Buy From You 15% More Often!
To instantly add to your bottom line, help your customers buy from you more often.  Deliver them legitimate value more often.  Some ways to do this include:
> Sell project with a service plan
> Segment your customer list and make tailored offers
> Order follow-up with upsell opportunity (always make an opportunity to upsell)
> At bottom of receipt or invoice give an upsell offer opportunity
> Make a special offer at the bottom of all e-mails
> Provide special promotions - such as free shipping
> Sell ongoing product like a subscription
> Provide multiple purchase, or package discounts
> Provide incentives to join your members only club
> Sell refills
> Provide loyal customer offers, discounts and surprises

Let Your Existing Customers Bring You 15% More Customers
Most people will tell their friends, family and neighbors about a company they are happy with.  Since your customers are already predisposed to refer you new customers anyway, why not put in place a disciplined system to help make it easy for them to do it, and do it often!  
 
To increase your number of customers by 15% would not be hard if you actively, consistently got referrals from your existing customers.  In fact, to double your business, you could simply get and convert one referral per existing customer. 
 
So here are some key tips for successfully getting referrals and turning them into customers:
1. Timing Matters:  Ask your customer for referrals at the time you successfully deliver and delight that customer with your product or service.  Don’t wait and ask days or weeks later.
 
2. The Way You Ask Matters.  Use an approach like this:  Mary, did we meet your needs with our printing service?  - Mary says “yes”.  You say “remember the problem you needed solved with this project, and your frustration with past printers meeting your quality needs, your deadlines, and your budget?  - Mary says “yes”.  You say “So we solved a real problem you had, right?  Let me ask you, may we have the opportunity to similarly solve printing problems of other businesses and people you know.  We will give them the same stellar service, listen to their real needs and deliver the best solution possible just like we did for you.  Would you be so kind to provide us with the names and contact info of those folks that are in need of help right now, or likely in the near future - here is a convenient form for you to use.  I personally promise you I will take care of them just like I took care of you.  As you fill this out, let me ask you, would you be willing to introduce me and our business to your friend on the form, either with an introductory phone call or e-mail.”
 
3. Follow-through matters:  Make the contact soon - while it is fresh.  Acknowledge the customer that gave you the name of the referral when you contact that person.  Deliver what you said you would do.
 
4. Recognize and Reward Your Customer for the Referral:  Thank you letters/cards go a long way, but a personal gift that matters to them (i.e. Starbucks gift certificate for a coffee fan, Lowe’s gift card for a do it yourselfer, etc.) really delivers a powerful thank you.
 
5. Track on paper, your referral system: Document and track - date referral asked for, date referral contacted, outcome - did they become a customer, date of thank you to customer, etc.  This approach will hold you accountable to results and speak to you relative to where you can do better.

DAILY PRAYER  
Father, help us to serve more people at a higher level.  As we sell more, help us to always check our motive - that we are working in the best interest of the customer.  In Jesus name, Amen.
 
Zig Ziglar says “if you first help enough other people get what they want, then you will get everything you want and beyond.”  Do 5 things that contribute to your bottom line at least 15% better - the result is a doubled bottom line.
 
Grace and peace multiplied to you.