Customers benefit from purchasing your products and services when they are needed. However, over 50% of customers fail to do so consistently.
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You are a busy businessperson with an uncertain schedule. You finally get frustrated with how your hair looks and call to get an appointment. Unfortunately, the earliest available time is over a week away.
Rather than looking and feeling great by getting your hair cut when you need it, you often fight through two or three weeks of “bad hair days” – sound familiar? If so, you are one of the 50-70% that follows this very pattern when it comes to their hair.
And is your hair the only thing that you run this pattern with?
What about your oil changes and tune up or transmission services? Or your furnace maintenance? Or your driveway sealing? Or your regular medical checkup? Or your annual eye exam? How about when it comes to getting your carpet cleaned? Or doing your will or estate plan? Or having your insurance reviewed? Do you tend to have these services performed later than you should? And would you benefit in many incidents if you were timelier?
Now let me ask you another question, “How good of a job do most of these businesses do with reminding you when it is the optimal time to purchase from them again?” The answer for most is poorly at best. Yet what if they did remind you? Wouldn’t you buy the product or get the service performed more often if you needed it?
How would you like to have your customers purchase from you 20% more often? What would the impact be on your profits?
A Simple Way to Add $50,000-$100,000 to Your Profit Stream
Let’s take a look at our hair salon story. Are you aware of the fact that if a person gets their hair cut every three weeks (when you wanted and needed a haircut) vs. every five weeks (when you are looking a bit “raggy”), the revenue to the salon would go up a whopping 70%! Since many customers do set up appointments, let’s use a conservative figure of a 20% increase in revenue. For a salon that does $500,000 a year, that represents a $100,000 increase per year!
ACTION EXERCISE
Every Profit Strategy I bring you is proven to produce thousands, and even hundreds of thousands of dollars in profit for companies in over 150 industries throughout the world.
To help you immediately see how you can produce measurable profits from this week’s strategy, here is a simple assignment. WARNING: Don’t get caught up in the “this is simple” syndrome. Instead, put this strategy to use now.
To help you get started with two easy steps:
- Step 1 – Determine which products or services your customers would purchase more often if you reminded them and educated them as to the benefits.
- A recent medical practice client has added over $150,000 to their annual profits by creating a follow up visit program.
- A marketing company is on pace to double sales by educating clients as to the benefits and ROI they are getting from their service.
- A Pool Company is now booking long term maintenance contracts with customers.
- Step 2 – Test following up with several customers to see if you can stimulate additional purchases.
This profit strategy applies to every type of business. So be creative. And most of all, take action.
If you are already a Small Business Growth Club member, then simply go to www.smallbusinessgrowthclub.com and select the Optimize Your Profits Training section and proceed to the Condition Your Customers to Purchase More Often Workshop for the detailed, step by step implementation system that will help you maximize the results of this powerful strategy (over 20 different applications are provided).
