HERE'S THE TRUTH: The quickest way to bring in more income is to stop leaving it on the table! Yes, we’re going to talk about “the table.” The one that everybody and their dog is leaving money on.
The table is full of potential customers and clients - people who could turn into sales if they just got that little nudge, people who want to buy more but are waiting for that extra “thing,” and people who would be returning customers if they just had a reason to buy again. These people are all interested in what you have to offer, and have used your services in the past, but need a dash of that something special to bring them fully into the door again - and off the table.
All of these people are not just interested, but willing to spend money and become repeat clients. It’s up to you to provide that last piece of the puzzle, whether it’s a lucrative coupon, a friendly reminder, or a catchy advertisement.
Another truth many businesses tend to forget is that new sales don’t have to come from new faces. What often happens is that businesses instead spend large amount of time, money, and resources to generate a marketing campaign to try and lure new people in the door. The more savvy and ultimately wiser strategy is to work with what you already have - your clients - and use what you have at hand to make the most of the connections you’ve already established.
Going Back to Basics
HERE'S AN EXAMPLE: Let’s say you own a pet store. You have a decent storefront in a decent area, and plenty of people meandering about. A majority of your store is made up of displays of fuzzy puppies, leashes, collars, and dog toys. Way in the back, however, you have racks of dog food. You know that not many people buy or even are aware of your dog food, but you have it there for sale regardless.
So, now, how will you devise a way to increase your revenue? Make ads and rev up your website or social media page? Nope. That’s your time & money going out the doggie door. How about putting up a sign in your store about your wide selection of dog food? And when people are buying dogs and dog accessories, alert them to the fact they should also browse your dog food. Alternatively, you could give everyone who buys a dog 10% off dog food for life. This is how you turn a one-time client into a returning, or even lifetime, customer.
So put up that sign and start generating buzz about your lesser-known products and services. You can include it in your newsletters, host a pet event with tasty treats, have a sale, and so much more. The possibilities are endless once you stop trying so hard and go back to the roots.
The moral of the story: make the most what you have, using what you already offer and with people you’ve already connected with.
This month, try focusing marketing inward - hone in on your existing customers with emails, phone calls, thank you letters, freebies, and discounts. Work with what you have to attract more attention and interest. You will find it's much more cost effective and you can start getting some of your money off the table, and onto your plate.