Sunday, June 19, 2011

Remember This Or Your Business Will Die!

A good friend and mentor of mine, Jim Ackerman of Ascend Marketing taught me something many years ago that I wish to share with you and that is...

There are only 3 ways to grow any business!

  1. Get More Customers
  2. Get Those Customers To Spend More Money
  3. Get Those Customers To Spend More Often
Yes, as a business, we do need new customers everyday so thats where the "Getting More Customers" comes in.  But it is equally important to get your new and existing customers to spend more money, more often!

How do you do that?  You get them to spend more money by what some would call "Add Ons or Bump Ups".  Its very important to have a list of things you can add on to each sale, value added offers, or counter specials to which you can increase the amount of each sale.  Now, lets talk about getting your customers to spend more often.

How do you do that?  By sending them special timed offers on a regular basis to get them back in your store more frequently.  Too many business owners are simply waiting around for their customers to come to them but they're not giving those customers a good reason to do so!  Make a phone call, let them know about a new line you've received, send them a coupon, send them a gift certificate for their birthday or anniversary.  Most importantly, just do something!!  Those who are waiting to do business will be waiting simply to go out of business!

Truly Yours,

Bill Warren