Five Tips to Grow Your Business
Filed under: Building Your Customer Base, business advice
Five Lead Conversion Tips Every Business Owner Should Know
How many times have you lost a sale that you thought you’d get because the customer was referred to you?
How many sales calls have you made only to realize that you are talking to the wrong person?
What do I mean by wrong?
- Not a good fit for your service
- Your product doesn’t meet their need
- They can’t pay you
- They are “shopping around”
Why does this happen? Review 5 Essential Business Tips Below…
Business Advice Tip #1: Know Your Ideal Customer
If you can understand your customers’ financial circumstances, you’re halfway there. The other half is a simple psychological profile. Together, these demographic and psychographic models can give you significant insight into your customer’s buying preferences.
Business Advice Tip #2: Create A Sales System
If you are not using a systematic approach to sales, you’re losing business. Once you have a sales tracking system in place, use it for every lead, and know where they are in your system.
Business Advice Tip #3: Note The Sales Milestones
Certain events in the sales cycle are key indicators of progress. Knowing these and keeping tracking of leads in your system enable you to constantly improve your methods and to make more accurate sales forecasts. See some key milestones listed in the article.
Business Advice Tip #4: Know Why Customers Buy
Your sales messaging should show the results that customers believe they’ll obtain by purchasing your products. Does your messaging outline the benefits of purchase? Naturally, your products should deliver those benefits.
Business Advice Tip #5: Know Why Prospects Don’t Buy
Knowing where in the sales process your leads drop out will show you where your sales system needs improvement.
The simple fact remains: people don’t buy from you because they either…
- Don’t trust you
- Don’t feel like you understand their problem
Are you ready to make a change?
To make a difference in your business you have to change the way you do things. It begins by attending one of our profit building seminars.
To get started today click the link above. We look forward to helping you grow your business and making the kind of money you always thought possible.
7 Tips to Make More MONEY in 2010
Filed under: Building Your Customer Base, Business Development, Business Marketing, business advice
I had the pleasure of presenting to 40 business people at the Westport Wilton Chamber of Commerce Business Before Hours this morning. It was a great event! Many thanks to Lisa Thygerson, the Executive Director of the Chamber and her fantastic team; and to the Executive Director of the Westport Arts Center, Nancy Heller, who hosted the event. If you’ve never had the pleasure of visiting the Arts Center at 55 Riverside Avenue …. you need to get there. It will be a fantastic cultural experience for you.
During the event, I shared the following low cost, fundamental tips with the group to help them to grow their profits this year ….
1. Determine and write down your specific 2010 profit goal — the actual # – look at the goal every day to keep it always on your mind.
2. Know Your Numbers– not only your monhtly financials; but also your Key Performance Indicators – these will vary from business to business but here are a few that whould apply to your business = # of leads per week; conversion rate from prospect to sale; average dollar sale; profit margin; client retention; etc …
3. Write a Description of Your Perfect Customer and focus your marketing efforts of those that fit the description. This will reduce your marketing costs and time and increase your conversion rates
4. Establish and Follow a Consistent Sales Process. From the point when you meet a prospect through the point where you close the deal take the same steps with everyone. Only in this way will you be able to measure what’s working and what’s not.
5. Sell on Value; not on Price. If you focus on price you’ll get what you deserve because the prospect will then also focus on price. So focus on the value you bring and what you can bring to your prospect that your competition can’t.
6. Focus Your Marketing Efforts on Your Existing Customer Database. It’ll cost you less time and less money to close them into additional business because they already know you and your company. There’s gold in your database … focus on it.
7. ASK, ASK, ASK. Ask your clients for referrals. Ask your customers testimonials. And most of all ask your prospects for the business.
To build on these ideas and strategies come to our next interactive profit building workshop to be sponsored by CitiBank at their Westport Office on January 27th at 5:00. You can go to our ActionCOACH website at www.actioncoachnow.com to learn more and to register for this educational event.
Please post your comments below on the Business Before Hours Event …. also, feel free to share your ideas on how to grow your profits in 2010!
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