Sell More, Spend Less!
How to Sell More while Spending Less?
Are you ready to sell more while spending less.
Do you feel overwhelmed or stuck thinking about how much you should spend to market to a new customer? Do you lay awake at night wondering where to find new customers to grow your business? Do you spend hundreds of marketing dollars on advertising to new customers only to come up empty handed? I know the feeling, I can relate! I used to think to grow my business, I needed to focus all my attention on finding new customers. It was overwhelming, and quite frankly it was DRAINING! In this blog post, I will share with you my secret to selling more while spending less so you can grow to a six-figure success. Let's break the chains that are holding you back in your business!
When starting my business before it became as successful as it is today, I had my fair share of ups and downs. I started my small business at one of the lowest points of my life. I was going through a divorce and I had a five-year-old daughter to support. Let’s face it I was broke and knew nothing about how to manage a small business! I knew that I had to make it big and I had to make it big fast to make things work. I started slow and faced many challenges but time passed and I had a growing number of customers. I kept trying to get new customers, until a realization hit me! I don’t always need to focus on gaining new customers, I need to focus on keeping the ones I have and nurture my relationship with them. It was then that I started to create a new sales process. I found out that it’s all in the numbers, the more customers I retained, the less cost I must shoulder to grow. As I said, budget was limited, so I had to make it work, and it did!
My logic behind the realization.
I realized that I need to remember very simple business logic, by keeping my current customer base and focusing on solid retention processes, I will be able grow more by spending less! In a recent video I shared on Facebook, I said the best way to keep a customer is to make them feel like family, make them feel like they belong, make them feel that they are important because they are. A business will not thrive without a band of loyal customers. A simple greeting on their birthday or a personal thank you note lets your customers know that you are always thinking of them. In return, it makes it easier for you to ask for referrals of their friends and family. Can you imagine having more profit by just a simple gesture of letting your customers know that you care? This kind of out of the box thinking has worked amazing in my Insurance Agencies. I consistently carry a high 80% customer retention ratio and receive positive feedback from customers
As I observed this sales process, one thing that hit me hard is that not only do I have a high retention ratio but I also save 3 times the money when my focus is on keeping the current customers. In monetary terms, for every $1 I spend marketing to a current customer, I would have to spend $3 or more to market to a new one. If you are working on a very limited budget as I did from the beginning, this breakthrough will change the way you grow your business! If there is one thing that I learned from years of hard work, it is that a good business offers something unique to the target market. Thinking outside of the box when it comes to marketing and growing has excelled my Insurance Agencies to the success they are today!
Don’t get stuck and lay awake for many sleepless nights like I did, it will exhaust you and your thoughts! Luckily, I realized this through trial and error and designed processes that still work today. If you are feeling stuck and overwhelmed, let’s talk. It doesn’t have to be so hard, you deserve to love your business and enjoy going to the office. Take some action today and jump on a Break Through Strategy Session with me, let's talk about your biggest challenge when it comes to growing your business.
Here’s to your success,
Helping Women Create A Kick Ass Life