How to Get More Sales Transactions Even with the Same Number of Clients
by Jim Kaspari
One of the best ways to improve business profits and to keep your customers happy and coming back often is to give them what you want. If you’re familiar with my coaching or articles, you know I often highly recommend asking your clients what else they want or how else can you help them! I do this because it works. There’s nothing easier than asking someone what they want and then offering it to them – a surefire way to get more sales transactions. You can even try that on your spouse if you want a happy life …
Let’s look at a key strategy for increasing sales transactions, and discuss how you could expand the number of products and services you offer. If you already provide a quality product / service, your current customers will be open to a variety of items that you introduce, recommend or endorse to them. Look… your current customers trust you, don’t they? Then they will be very open to additional products and services from you because they know, like and trust you.
Unfortunately, most businesses don’t have additional products or services to offer their client base, so you want to ask yourself (and them) what other products or services my customers could find valuable. Once you make up a list of those offerings, the first step is to be creative and figure out how you and your team can create new products or offer new services. If you are a sole proprietor, and are interested in building your team, do yourself a favor and read these articles to significantly increase your chances of success:
If you absolutely do not want to add the products nor services within your business, you can still get more sales transactions. The next step is to go out and contact the providers of those offerings and set yourself up as an affiliate and negotiate a referral fee. Be sure to do your due diligence thoroughly. These providers, even if not under your umbrella, will be a reflection on your company and your image.
Consider a landscaper. As they make their client’s lawns and homes into a showcase, those homeowners may also need tree trimming, decking, fencing, stonework, a sprinkler system, outdoor lighting, a patio or outdoor kitchen installed… and perhaps a swimming pool.
The landscaper doesn’t necessarily perform any of these services, but they are in a prime position to make professional recommendations, and most homeowners will go with those recommendations. The landscaper could easily negotiate anywhere from a 10% to 25% affiliate fee from each of these various service providers, and in the process, double their annual revenue.
The landscaper could also contract out these services and add considerable profit!
I do this myself as a business coach and marketing strategist. My top tier clients receive a wide array of additional services I created for them. First, they get complete online access to all my proprietary marketing and advertising, business growth training, strategies, tactics and resources 24/7/365 through an online marketing E-Learning System I set up.
They receive 2 weekly strategic marketing videos and articles where I teach them one specific strategy designed to immediately increase their revenue and profits. They gain access to a weekly Application Recording where they get help and instruction on how to take that marketing strategy they just learned and implement it for their specific business. They also get a bi-monthly Group Coaching call with me where they can ask me ANY business-related question they need answered… and then we meet once a month for an exclusive coaching session where we find dramatic breakthroughs in both their sales, marketing, leadership, operations, or business finance efforts.
I also offer a free online marketing/website analysis on how they can get their business ranked on page one of Google and increase their online leads and conversions. I created all these additional services offerings because they are extremely useful, valuable and helpful to a LOT of small business owners. They also do an excellent job of separating me from all my competitors, because no one else I know of offers anything even close to what I provide to my clients. My point being that we can do this for YOUR business as well.
I also do a lot of networking and 1:1 meetings with ideal referral partners. What’s the value in that for you? I have met dozens of business to business product and service providers and can recommend the best contacts for you. I have already vetted them and will only recommend the most accountable, high-quality-customer-service, integrity, heart-based providers. I don’t have a JV set up with each provider, but if I feel it is within my values and not a conflict of interest, I can get referral fees as well.
Of course, you have to do your own due-diligence to make sure the fit is right for you. This is one of the biggest challenges for small business owners. Who can you trust to do your bookkeeping, accounting, banking, loans, web design, SEO, copywriting, marketing, legal contracts, trademarking, photographer, graphic design, set up entities, help you with insurance, etc.? If you are thoroughly solving one of your clients’ biggest problems or challenges, why not get additional income?
How many additional offerings do you estimate you could be making right now? See how to get more sales transactions, even if your lead or client base stays the same? All you need to do is contact each service provider you identify and effectively negotiate a deal with them that’s win / win. I would very conservatively estimate that this strategy will add an additional 10% of your current total revenue to your bottom line.
There are 5 main areas you can use to raise your small business profits: Increase leads, conversions, transactions, prices and overall profits. If you found this article helpful, I’d highly recommend my book in which I’ve detailed out how to increase your profits by at least 50% – for more information, click on the following link: http://peakbusinesscoaching.com/10kbook/