What business are you in?
If you could wave a magic wand and make one wish come true for your business, what would you choose?
If I were you, I’d wish for hoards of eager customers. Here’s a story to explain why.
The other night we abandoned our 3 kids and went in search of sushi. We found two choices three doors apart.
Which should we choose?
It was one of the easiest decisions we’ve ever made.
The first was dark, uninviting and empty. The sullen sushi chef sat at a table glowering at the door. We’d have had to pluck up our courage to enter.
The next was brightly lit, packed with customers (on a Wednesday!) and had a queue of 5 couples waiting outside. It started to rain. Should we wait and get a little wet or stay dry and eat in the empty restaurant?
We waited; the queue moved quickly and within 5 minutes we were sitting at the bar blowing the froth off an ice-cold Kirin. 7 minutes later we were at our table. The meal was good, but not spectacular.
Two businesses, three doors apart, both serving sushi.
One nearly had the best problem in business; more customers than they could handle, whilst the other had the worst problem in business; it was empty, with no customers. It couldn’t blame the recession because there were plenty of customers; they just chose his competitor.
One business was thriving because it attracted profitable customers whilst the other struggled because it couldn’t.
Maybe that sounds too simple, but it’s a powerfully simple truth.
The number 1 goal for any business is to attract profitable customers.
If you’re good at attracting profitable customers, your income will fund your choice of lifestyle. But if you can’t attract enough profitable customers, your business will struggle to survive and you’ll have to scrape by.
So how can you attract all the customers you want?
Here’s a simple formula that works for my clients every time. There are 5 parts to this winning formula:
1. Winning Offer
Choose your market, then choose your customers and find out what they really want and value. Then create a compelling “Winning Offer” that appeals to these customers.
When you have a Winning Offer you’ll stand out from the crowd and more customers will choose to buy from you.
2. Win the Search
Your business may have an irresistible winning offer, but if people don’t know about it, you’ll struggle to get the sales you deserve.
When you “Win the Search” you’ll attract all the customers you want, because they’ll find your “Winning Offer” just when they need it.
3. Win the Conversion
OK you’ve won the search and your customers want to find out more.
Some will call you but more will take a look at your website. And it needs to hook your customers interest and get them to want to buy from you. Most business websites are hopeless. Did you know that on average only 1 visitor in a 100 takes any action when they visit a website.
When you “Win the Conversion” your website becomes a non stop conveyor belt giving you sales and enquiries 24 hours a day.
4. Win the Sale
Do you hate selling? Most people do.
How often do you attract enthusiastic clients who seem to be on the brink of buying, but then something goes wrong and you lose the sale? Is there anything more frustrating?
When you “Win the Sale” more of your customers buy from you. And when more people buy from you, you can choose your customers, serving the ones who really value what you do and happily pay the prices you ask. And you can stop serving the time-wasters and the penny-pinchers.
5. Win their Loyalty
How many of your customers come back and buy again?
They’ve bought from you once and you’ve earned their trust. Do you build on that trust with repeat purchases and tempting new services? Probably not as much as you could. If you’re like most business owners you’re sitting on a goldmine of untapped profits.
When you “Win their Loyalty” you open up that goldmine. And it doesn’t take many loyal customers to recession proof a business.
Follow these 5 simple steps and you’ll turn your business into the cash machine that funds the life you want to live.
- if you attract a lot of customers but they’re not very loyal; how could you persuade them to buy again.
- if you get a lot of visits to your website, but not many sales or enquiries; what changes could you make?
- if you have a brilliant offer, but you don’t get many customers; how could you get more people to see it?
Use this formula to focus your efforts and if you’ve got any questions or comments then please leave them below.