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5 Secrets To Growing Your Business

In our companies and client’s companies, it is always a great feeling when you can identify key opportunities in your existing business!

As a business coach and consultant, there are 5 key secrets to growing your business without having to hit the streets and knock on doors.

I can’t stress enough the importance of consistency when utilizing these 5 key secrets to growing your business!

Let’s get to it! Here are 5 secret ninja moves to growing your business!

1.    Referrals Grow Your Business

Every client you have ever done business with has the power to lead you to a new, warm and “ready to buy” lead. The biggest challenge with capitalizing on getting referrals is simply asking. The key is to ask before the deal and after the deal! That’s right, asking before and after is important. I see most people asking by saying “hey if you can think of someone who could use our products and services, please send them our way” vs “Hey, who do you know that would benefit for our products and services?” The difference in these two statements is one is very general, usually ending with the customer responding “Yes, if I know someone, I will send them your way” vs the second version, which means your holding out until you get a name and contact. If they can’t think of anyone you could always rephrase it as, “if you could think of one person who could use would benefit from our services who would that one person be?” Now… wait for a response. You would be surprised by how rephrasing this question gets your client thinking of someone.  Always grab a phone number from that person and ask if they could introduce you via email.

Let’s say you have worked with 10 clients and 25% give you a name that’s an extra 2 – 3 clients!  Just remember it’s never too late to call old customers to check-in and ask!

2.    Up-Sell Business Secrets

If you are proposing your basic service, it never hurts to pitch and propose your higher-level packages or services. Often, there is missed opportunities not because your client is looking to spend less but simply because they are not aware of the better service package! We often judge our customers because we don’t believe we can sell to them or that the client will buy the premium service. If the difference between your base and premium service is let’s say $1,000.00 and you closed 10 clients at the basic package and didn’t even present or pitch the premium service, you have already lost out on thousands of dollars! You’re never going to lose a deal by presenting a premium package if anything it will move the customer to the better package because it now shows all the better premium benefits that they were not aware of. You will have a handful of clients who want all the bells and whistles no matter the cost. So, don’t forget to present all options! I always recommend presenting a GOOD, BETTER, and BEST option! This is a great way to grow your business!

3.    Cross-Sell Growth Opportunities

Amazon is the king of the cross-sell! You’ll notice this when you are about to check out or when you are looking at an item online. They recommend other products and services people have purchased when purchasing that product! Again, a very simple conversation you can have with your customers. Example, if you are in the automotive industry you might sell a car and offer the paint protection, window tint, fabric protection, warranty, or accessories to the deal. If you are a window and door company, you might offer window cleaning or blinds to the new installation. If you sell T.V.s you might add the surround sound, cables, mounts, game systems or installations. These cross-sell items can be positioned as special deals or simply, “Hey! Do you have this, or could you use this service with your new [……]?” By simply asking if they are interested in these complimentary services, will guarantee you sell more! Once customers have said yes to the product or service they came in for, there is a high probability they will need a complementary product or service. This too can add thousands of dollars to the same deal. You want to always offer a product that can add more value to the product they are purchasing. The conversation might look something like this, “Mr. Jones your beautiful 80” LED TV would look great mounted on a wall. For just $250.00 more we will not only provide you with the wall mount but also deliver and mount your TV for you. Is that something you would be interested in?”

4.    Re-Booking Grows Business

It’s all about the follow-up! If you sell a hard product or service, schedule a re-booking with the customer. This could be a re-booking for a service or a re-booking to follow up with a product. So many of these opportunities are missed, especially in the product industry because we assume the customer won’t buy again. The reality is when you go to follow up with the customer after they have purchased, they might just be in the market for another product or they are looking to upgrade the product they recently purchased. You could literally double your revenue from asking the simple question, “Can I book you in for another service”. If the customer is unhappy with their product or service, there is a great opportunity to offer a better service or product that will result in an up-sell. If they are head over heels with their existing product or service this is the ideal time to ask again for that referral! Double your business with re bookings!

5.    Follow Up Is A Key Secret

They say sales are made on the 7th or 8th contact and most sales professionals quit at 2 or 3! Follow-up with your customers in unique ways that keep you top of mind! The trick is to have your customers and prospects constantly thinking of your company! We do this by dropping off a box of donuts with a message written inside of the box, a handwritten mailed letter, endorsements or recommendations on LinkedIn. Most companies never follow-up, so follow-up consistently in unique ways and you will find you get more referrals and customers that need more of your products and services! Don’t give up we are following up with customers and prospects that might not have purchased yet and it’s been years! Sometimes, follow-ups can take years before the customer is ready but when they are ready they are going to think about you! Follow up is a form of services! People appreciate great service, and great service creates business growth!

Bonus

Systems: Make this part of your sales process! Have a specific process for follow up and how you are going to follow up. This could be something like this:

1st Follow-up: Personal Email with Article

2nd Follow-up: LinkedIn Connection Request

3rd Follow-up: Phone Call

4th Follow-up: In-Person Visit with Donuts

5th Follow-up: LinkedIn Endorsement

6th Follow-up: Google Review

7th Follow-up: Invite your Friends to like their Business Facebook Page

8th Follow-up: Personal Text for Lunch

This will ensure every time you follow up is a bit different and unique and keeps you from quitting.

When asking referrals, make it a part of your process to ask before, after, and in follow-up. When up-selling, always present 3 options if possible! Your cross-sell should always mention products or services that would complement and add value to the existing purchase!

The key is to bake these 5 key strategies into your sales process and customer on-boarding process. This will unlock the hidden opportunities within your business without having to go and prospect cold! These strategies have literally helped us to create thousands of dollars without having to get more new sales!

If you have questions about how these strategies can be implemented in your business, contact us at [email protected]