In the last issue of the “Elevate Your Small Business eNewsletter” we were reminded of the fact that there are only three ways to increase your business:

1. Increase the number of clients.
   
2. Increase the average size of the sale per client.
   
3. Increase the number of times clients return and buy again.

And a great starting point is to:

1. Calculate your number of current clients.
2. Figure out the average amount they spend on each transaction or sale.
3. Determine how often they make a purchase in a year.

We also went over some proven and practical ideas you can immediately put into practice to increase the number of customers or clients for your business, increase the average size of the sale per client and the number of times they return to buy again.

Here’s a brief summary of some practical ideas to increase your number of clients:

1. Make sure you do everything in your power to actually keep the clients you already have.     
   
2.  Make sure to be constantly and effectively advertising and marketing your business, your products and services.
   
3. Be intentional about having an effective referral system in place.
   
4. If you have a sales team working for you, offer a bonus or a higher commission to them when they bring in a new client.
   
5. Create strategic partnerships or “joint ventures” with people with non-competing but related businesses.
   

Here’s a brief summary of powerful strategies to increase the size of the transaction per client

1. Think of new, related products and services you can offer your clients.
   
2. Offer a bigger or better alternative to a line of products or services and ask your clients if they’d rather have those.
   
3. Think of ways of improving your products and services to increase their value by multiple factors and then raise your prices by some.
   

Here’s a brief summary of proven techniques to increase the number of sales per client

1. Come up with powerful incentives to create client loyalty like Safeway®, Subway® and most airlines do.
   
2. Offer a package deal instead of a one-time transaction.
   
3.  “Reactivate” past clients who haven’t purchased from you in a while by sending them a well written letter offering them a limited-time, special deal that is only available to them. 

And now, we’d like to offer you a few more ideas for you to have an extra edge over your competition and make more money while making your clients and customers love you more.

1.  Find out exactly what your prospects want and are looking for and give it to them.

 

We know that may sound “too obvious” but, often times, business owners or directors offer what they believe the prospects want, or what may be worse, what they believe the prospects should want.

 

Are most of your prospects interested in price, great service, speed, quality, or convenience? We have the emphasis on the word “most” because it’s impossible that 100% of your prospects will want the same thing, but you want to focus on the highest percentage possible.

 

The best way to find out is to ask. Be intentional about it. Ask through your website, through email, through online and offline surveys, and any other way you can think of.

 

You may also hire a market research firm. You may type the words “market research firms” in your favorite online search engine and you’ll get thousands upon thousands of listings.

 

Additionally, GreenBook.org offers a directory of market research firms that you can search based on the criteria you enter.

 

Once you have enough data, prioritize the answers and figure out a way to modify your product or service, as well as your marketing and advertising messages accordingly (more on this in the next point).

 

Tip: For creating web-based surveys you can use SurveyMonkey.com’s tools. There are free and paid versions available.

2. Make sure to sell what your target market is buying.

Undoubtedly, your target market is not buying a product or a service just for the sake of buying a product or a service. What they are looking for is a result. They are looking for a benefit to them. Something that will make their lives better. Something that will relieve them from a problem. Something that will take away a pain.

So, instead of broadcasting features through your advertising and marketing messages, broadcast the ultimate result your customers will get when they buy your product or service.

In order to do that, it’s absolutely crucial to understand the differences between a “feature”, an “advantage” and a “benefit.” One of the best ways we can illustrate that is by giving you an example. Let’s talk about a cell phone, for instance...

Features:

“This cell phone is constructed of high quality materials. It is 3.7” tall, 2.3” wide and 0.67” thick. It has a great speaker and a great microphone.”

Advantages:

“This cell phone conveniently fits in your pocket or purse. It provides you with great sound clarity and people will clearly understand every word you say during your phone conversations with them.”

Benefits:

“This cell phone will allow you to instantly communicate with the important people in your life whether they are 5 minutes away from you or halfway across the world. You will save a lot of your precious time by not having to find a telephone while you’re on the go.”

For added impact, “push emotional buttons”:

“Now you don’t have to wait until you see her to tell her ‘I love you’ and hear her soothing voice.”

Or...

“Now you don’t have to lose that million dollar client to your competitors by being able to tell him immediately that you were able to sweeten the deal for him.”

Or...

“Now you can be on top of all your business and personal affairs even while you’re sipping Margaritas in the Bahamas when you use our cell phone.”

We know you get the idea. So now, what we recommend is that you find out what your prospects, customers and clients really want. Provide them with what they want, and then sell the results and benefits they’re looking for through all of your communications.

Remember, as we wrote on our free ebook, in order for you to dramatically increase your profits:

a) Have something good to say. Mainly offer the best product or service available in your market.

b) Say it well. Craft your marketing and advertising messages around what the prospects, customers and clients truly want. It should be about them, not about you. Make your messages clear, concise and full of benefits instead of just features and advantages.

Additionally, it is okay to be “edgy”, but never offensive. It is okay to be creative, but never confusing.

c) Say if often. You must be persistent and consistent because many of your competitors are, too.

Do you have any comments on or questions about this article? We’d really appreciate your feedback. You may email us at: PaulAndCharles@MerchantSupport.com and let us know what you thought.