Are you expecting tips and tools to be able to improve your customer’s buying process?
Do you think that is an area that you are weak in?
Why should you be asking questions in the buying process?
Isn’t it really more about selling your product? Interesting isn’t it?
I’ve started a conversation with you simply by asking a few questions. Isn’t this something that you should be doing more of in your business?
What do Questions do for your Business?
Think about this. When you are making a large purchase do you ever sign on the dotted line before testing the product? Would you buy a luxury car before taking it for a drive? Would you buy a house before walking through the house checking for cracks or plumbing defects?
So why when you run a business would you invest time and money into an advertising campaign and roll it out without testing it? As a smart business person you wouldn’t, if you knew the value of testing that is. While you may have ideas as to what is a good headline or catch phrase, your customers may view it differently. What you thought would generate a great response may not, and you won’t know this until you test it.
This is a very simple and exciting strategy – which very few small business owners take advantage of – despite the fact that most agree that “word-of-mouth” is the best form of business. So I’m thrilled to be able to share it with you.
You probably know that one of the most valuable assets you have in your business is your existing client base. The quality of your relationship with them will determine the long-term profitability and viability of your business.
However what are you doing to nurture the relationship you have with them?
… Ask someone who has just purchased something to buy something else.
Let me explain. Read the rest of this entry »
What is your usual reaction when a customer says to you “That’s too expensive”?
Do you scramble to undercut your price or do you take the time to explain to the customer in more detail what they are actually getting for that price?
Too often businesses do not make the effort to demonstrate real value to their customers. This can have a huge impact on how many enquiries are converted to sales. Most often 10-20% of people are looking at price, whereas 80-90% of people are looking for value.
The important thing is that you are consistently feeding people into your sales process. Your advertising and marketing should be geared towards the goal of consistently building your list. Today I want to talk about different ways you can do this.
In Cialdini’s book “The Psychology Influence of Persuasion” he talks about a friend who had a jewellery store in Arizona. She was having trouble selling some turquoise jewellery despite many different sales tactics to get them moving. Finally she decided to sell at a loss and left a note to her head saleswoman to mark everything at ½ price.
When she returned after a business trip she was delighted to see that all the items of jewellery had been sold. She was shocked, though, to discover that, because the employee had read the ½ as a 2, the entire collection had been sold at twice the original price!
At the end of August I swam the Solent which runs from Portsmouth to the Isle of Wight. You may remember I wrote about the training for it in my last newsletter – as it was the hardest thing I’ve ever done – but it taught me a lot about business.
And my swim to the Isle of Wight taught me even more, which I’d like to share with you.
You see there’s an expression I learnt several years ago which is:
“How you do anything is how you do everything”
And I was reminded of that as I was swimming.
When I set off I was really nervous, and although I had been training for months, I still felt I could have done more. And I recognized that I regularly feel like that in my business – and it’s a way of being hard on myself and yet another example of not feeling “good enough”.
One of the most important aspects of business is to build up your client list. Ideally you would like your client list to be of people that have bought from you or have an interest in your product. Unfortunately if you want your business to grow then at some stage you are going to need to contact customers that have possibly never heard of or seen you before. This is an example of a cold list of clients. Why is it important to differentiate between the two?
We’ve talked about the lifetime value of a customer, how over time a single existing customer becomes very valuable to your business, but that needs to be an active relationship if you want to benefit from it. It needs to be a relationship where your customer knows that you value their business, and where they continue to benefit from your products or services.