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Low Hanging Fruit Strategies to Rapidly Increase Sales with Business Optimizer Coach Stacey Hylen. What you are going to learn:. What are the biggest mistakes to avoid if you want to grow rapidly Quick and easy low cost strategies to rapidly increase sales!.

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what you are going to learn
What you are going to learn:

What are the biggest mistakes to avoid if you want to grow rapidly

Quick and easy low cost strategies to rapidly increase sales!

mistakes made by business owners in today s economy that will stop your growth
Mistakes made by business owners in today's economy that will stop your growth:
  • Lack of Strategic Planning
    • Reactive instead of Proactive
mistakes made by business owners in today s economy that will stop your growth2
3. Lack of Accountability

Poor implementation

Tracking not in place

"Accountability breeds responsibility.” Dr. Stephen Covey

Mistakes made by business owners in today's economy that will stop your growth:
mistakes made by business owners in today s economy that will stop your growth3
4. Business owners are focusing on cutting back on the little things in their business vs. investing time, energy and resources on growth.Mistakes made by business owners in today's economy that will stop your growth:
what you should be focusing on
Your main focus should be that 20% of your business actions will get 80% of your results.

Cutting back on costs is only half the

battle, you must INCREASE SALES!

What you should be focusing on!
what is low hanging fruit
What is Low Hanging Fruit?

Things that you may be overlooking in your

company that are:

  • quick and easy to implementand get results
  • can rapidly increase sales and profits
  • low cost or FREE to implement
take advantage of overlooked opportunities
Take advantage of overlooked opportunities.
  • Instead of cutting back on staff and resources try looking at things that may be overlooked in your company – Low Hanging Fruit.
  • There is no need to go searching for other ways (new brochures, etc.) to increase business when there are things that can be optimized in what you already have!
knowing vs doing

These strategies seem simple and you

may say to yourself “I know that”

The question is are you using these

strategies CONSISTENTLY in your

business?

Knowing vs. DOING
exercise

How much is a client worth to you?

Average Sale, per month, per year, lifetime value?

How many clients do you want/need this month?

Pick the strategies as we go along to implement

Exercise
low hanging fruit strategy 1 the up sell
Low Hanging Fruit Strategy #1: The up-sell
  • An upsell is offering your clients additional products or services at the point of sale and before the customers complete the order. These can be complimentary or more expensive products or services.
  • This technique can bring extra business revenue without any additional expense.
mcdonalds asks do you want fries with that simple and easy to implement
McDonalds asks:

“Do you want fries with that?”

Simple and easy to implement.

Example
client example challenges
store hit hard by both recession and new low priced competition

employees had been with company 40+ years, several 80 years old+, others were family members, had tried everything to grow but refused to fire staff very small town,

Client Example Challenges
client example
Solution: Upsell system for his most popular product

Results: Sales up 40% in one month compared to same month pre-recession

Client Example
implementing the up sell technique
Implementing the up-selltechnique
  • Make a list of the top 20% items you sell.
  • Determine what the up-sell for that product would
  • be.
  • Create a written process. Train staff or workers on
  • the plan.
  • Implement CONSISTENTLY.
  • Track the implementation and retrain when
  • necessary.
  • Reward for increased sales.
exercise1
Exercise
  • Make a list of the top 20% items you sell.
  • Determine what the up-sell for that product
  • would be.
implementing the up sell technique continued
Implementing the up-sell technique (continued)
  • If you’re up-selling 30% of the time in the first week, what
  • happens the second week? The second month? Are you
  • still getting that 30% up-sell?
  • Is there an increase or decrease? Look to see if the
  • up-sell is being offered every time.
  • Reward the staff for the increase in sales! If you work by
  • yourself, give yourself a reward!
slide22
Another place to upsell is on your website

At the time they are buying offer an additional product, service or upgrade.

Examples: www.godaddy.com

www.Amazon.com

exercise monetize this strategy

Average Sale Currently: $________Upsell Offer: $________Estimated # of Upsells: ________Increase in sales: $________per week $________per month $________ per year

Exercise: Monetize this Strategy
strategy 2 reactivation of past clients
Strategy #2 Reactivation Of Past Clients
  • Already like, know and trust you.
  • It is not your clients’ job to remember you, it is
  • your job to make the clients remember you.
  • Even if they don’t buy from you again you’re
  • deepening the rapport you have.
  • You’re also creating a top of mind awareness.
strategy 2 reactivation of past clients who
Past clients- on and offline- haven’t purchased for a certain amount of time.

Online customers whose credit cards have expired.

Strategy #2 Reactivation Of Past Clients:WHO?
implementing
Implementing
  • Create a list of past clients that you want to call. If you have past clients that weren’t your best client, don’t put them on the list.
implementing1
2. Create a script of what you will say to them, something conversational. Ask them questions, interact with them. Ask rapport building questions and ask questions they can’t say no to.Implementing
implementing2
Implementing
  • 3. At the end of the conversation let them know you have something that may interest them.
      • Returning Client Only Specials
      • Subscriptions
      • Package created just for this offer
      • Limited Time Offers
      • Bring a Friend
implementation of credit cards reactivation
Create a series of contact points, email, phone, etc. to remind them that their card has expired and that they will be missing out on ….. and the benefits of continuing and the costs of stopping your product or service.

Be persistent you are not at the top of your list.

For the future put a tickler in place to remind you to contact client BEFORE card expires.

Implementation of Credit Cards Reactivation
exercise monetize this strategy1
Exercise: Monetize this Strategy

Number of Clients to Contact to Reactivate:________

Estimated % Convert to new sale ________

Estimated # of New Sales ________

Average Sale $________

Estimated Profit Boost$ ________

strategy 3
Strategy #3

Offer clients additional product or service

client example1

Examined current clients needs and

purchases

Discovered need that they were

currently outsourcing

100k/month in increased sales!

Client Example
two ways to do this
Develop a product or service to offer to your clients/list

Find a company that has a product that would benefit your clients/list and set up affiliate or referral fee

Two Ways to do this:
exercise monetize this strategy2
Exercise: Monetize this Strategy

Number of Clients to Contact to offer

additional product or service : ________

Estimated % Convert to new sale ________

Estimated # of New Sales ________

Average Sale $________

Estimated Profit Boost$ ________

strategy 4
Strategy #4

Offer your products/services to someone else’s

clients/list.

how to implement
Make a list of what type of businesses have your perfect clients.

What could you offer to their list that would be a good fit?

Write a script to approach these businesses.

Keep going until you get a yes!

Do the marketing for them.

How to implement:
do the marketing for them
Emails

Tweets

Facebook

Linked iN

Pinterest Pics

Guest Blog posts

Interviews

Podcasts

Letters

ETC……

Do the Marketing for them
client example2
Tire Center/Garage Offered a Free Gift for Used Car Dealer in his town to give to customers who purchased a car

Win-Win: Client: No marketing cost to get new client only had a cost if someone became a new client. Built his list.

Strategic Alliance Partner: Made him look good, gave something of value to clients, separated him from his competition.

Client Example
some formats to consider
Email- they send to their list

Stuffer in mailers, catalogues, invoices

Direct Mail piece

Event

Gift or Coupon for their clients

Some Formats to consider
exercise monetize this strategy3
Exercise: Monetize this Strategy

Number of Strategic Alliance Partners to Contact to offer your products/services to their clients/list : ________

Size of their List

Estimated % Convert to new sale ________

Estimated # of New Sales ________

Average Sale $________

Estimated Profit Boost$ ________

spend more money buy more often are more profitable are more loyal
Spend more money

Buy more often

Are more profitable

Are more loyal

Referrals
slide51
Clients

Former Clients

Competitors

Prospects

Prospects who didn’t convert

Other businesses and professionals

Associations, etc.

Who can refer prospects to you?
implementation

Identify the qualities you like about working with client

Let them know that you enjoy working with them and why.

Ask them who they know that has the same qualities

ASK for the referral!!

Implementation
implementation1
Make referrals a part of your company culture and start prepaving for referrals with prospects by letting them know a lot of your business comes from referrals.

Make this a regular process

Have triggers set of when to ask

Implementation
client example3
Dentist: created trigger system to remind him and his staff when to ask for referrals

1. Intake and welcome process

2. When patient said they were surprised by how painless it was.

3. When patient came back for check up after smile makeover and said how happy

they were, how many compliments they received, etc.

Client Example
exercise identify your catchphrases and triggers to ask for referrals
____________________________________________________________________________________________.____________________________________________________________________________________________.

____________________________________________________________________________________________.

Exercise: Identify your catchphrases and triggers to ask for referrals.
exercise monetize this strategy4
Exercise: Monetize this Strategy

Number of Clients to Contact for Referrals: ________

Estimated % Give Referral ________

Estimated # of New Sales ________

Average Sale $________

Estimated Profit Boost$ ________

slide59
Scratch and Dent

Products you don’t promote much

Special Events

Package Deals

Close outs on products you are discontinuing

Type of Sales
implementation2
Brainstorm possible products/ packages to promote.

Tie in to something to make it fun and creative

Create a sale/ promotion calendar

Develop marketing plan and actions for each promo.

Implementation
exercise monetize this strategy5
Exercise: Monetize this Strategy

Estimated # of New Sales ________

Average Sale $________

Estimated Profit Boost$ ________

client example4
Challenge: wanted to get in front of her target market quickly

NO Budget for trade show

Her sales calls were not getting her results

Client Example
client example continued
Client Example continued…

Solution:

Created Open House with other vendors who also wanted to get in front of her target market

Everything was paid for by charging other participants or had things donated

Result:

Got in front of over 70 ideal buyers without the competition of hundreds of booths a trade show

Developed rapport and relationships much faster than through sales calls.

Got sales!

implementation3

Can be Online or Offline

Create a reason or an event for people to buy,

bring a friend, expose prospects to what you

offer, promote new products

Can be cohosted or sponsored to reduce costs

Implementation
exercise monetize this strategy6
Exercise: Monetize this Strategy

Estimated new leads from an Open house: ________

Estimated % Convert to new sale ________

Estimated # of New Sales ________

Average Sale $________

Estimated Profit Boost$ ________

scary
70% or more of leads are never followed up on!

It takes an average person being contacted 5-7 times before buying.

Scary!
poor follow up
Poor Follow Up?

  2 things happen:

Prospect cools off, gets busy with something else, or

Buys from competitor.

slide70
Follow-up needs to be pre-planned for each marketing strategy you use.

Example: sales, presentations, tradeshows, magazine ads.

Implementation
implementation4

STACK It

E-mail – auto-responders – for different times in sales cycle.

Phone – tickler file in CRM

– Should have scripts.

Mail – tickler file in CRM

– with prewritten series.

Fax – NO fax blasts – illegal, but as of this recording, can fax for prior customers.

Text Messaging

Implementation
client example5
Trade show stacked follow-up strategy that included:

Phone calls from representatives to set appointments

E-mail (get appointment – Yes:  Thank you/welcome/ what to expect.

No: letter– email – call, email-letter, into email database

Maybe:  letter–email  call, email– letter –call, into email database 

Call–Letter, Call–Put on e-mail-list

Client Example
exercise monetize this strategy7
Exercise: Monetize this Strategy

Number of Clients to Contact for Follow Up: ________

Estimated % Convert to new sale ________

Estimated # of New Sales ________

Average Sale $________

Estimated Profit Boost$ ________

places to consider
Free and Low cost

e-mail newsletter “ezine”

eblasts

offers with each newsletter,invoice,

Social media: Facebook, Twitter, LinkedIn, etc

Mobile

Places to consider:
client example6
Client Example

One of my clients was not regularly emailing his list – when we put together his marketing calendar we increased his offers from monthly to weekly and his sales jumped dramatically.

remember
Remember…

“Marketing is the process of separating the people who would be your clients and who shouldn’t be.”

implementation5

There are some things to keep in mind:

Newsletters should provide valuable content in addition to your offers that will help the clients.

Your offers should be written as if you are talking to your perfect client.

Implementation
exercise2
Plan out what offers you are going to add and how you will get them in front of your prospects or clients.Exercise:
exercise monetize this strategy8
Exercise: Monetize this Strategy

Number of New Offers: ________

Estimated % Convert to new sale ________

Estimated # of New Sales ________

Average Sale $________

Estimated Profit Boost$ ________

strategy 10 downsell

A downsell – presenting your prospect with a less expensive option. This is not to be confused with discounting or lowering your prices.  This is a strategic method of getting sales from prospects who weren’t ready to buy what you were offering. 

Strategy #10 : Downsell
challenge
Sales presentations – many times when you are presenting your product or service to a prospect and they say no they can’t afford it, the sales conversation stops.Challenge
client example7
Client Example

An accounting firm that offers an extensive service, cost reports, created downsell to preparing tax returns in order to increase their like, know, and trust factor with new clients.

profit leak
Profit LEAK!

If you have only 1 product or service, you are probably leaving a lot of dollars out there, so you should create a downsell package to offer.

implementation continued
Implementation continued…
  • In person
  • Telephone script
  • Online –Shopping cart abandonment – one method is to offer lower upfront payment, with a balance in a certain number of days (trial offer) 
  • Exit pop-ups – when people leave your webpage with the product offer, they get a pop-up with an exclusive one-time offer. 
  • For example:  If it is a physical product, you could do an e-product at a lower price.
exercise monetize this strategy9
Exercise: Monetize this Strategy

Number of Potential Prospect for Downsell: ________

Estimated % Convert to new sale ________

Estimated # of New Sales ________

Average Sale $________

Estimated Profit Boost$ ________

strategy 11 increase the number of sales conversations you have

This strategy is simple and easy to implement, but as an entrepreneur or a salesperson, there are always many things requiring your attention that keep you from having as many conversations with prospects you need to have.

Strategy #11 : Increase the Number of Sales Conversations You Have
you may be thinking
“I’m already working as many hours as I can, and there is an endless list that still needs to be done; client follow-up, putting out fires,….”You may be thinking…
implement
Implement

How much is an average sale?  Lifetime value?

How many conversations/presentations does it take on average to get a new client?

What activities are you doing that are not related to your business growth?

implement1
Implement

Start with delegating 1 item.  Create a system for it to be done by anyone with the instructions you provide.

Either use someone in your organization, or hire a virtual assistant. 

implementation6

Then once you have that item effectively delegated, choose another one.

Use the time you gained to increase number of sales conversations.  If you market exclusively online, use this time to develop joint venture partners or list building.

*This strategy can even be used for sales-people who can hire a VA to handle administrative details.

Implementation
exercise monetize this strategy10
Exercise: Monetize this Strategy

Increased Number of Sales Conversations: ________

Estimated % Convert to new sale ________

Estimated # of New Sales ________

Average Sale $________

Estimated Profit Boost$ ________

slide95
The Secret to Getting Results?

Diet & Exercise and Weekly weigh ins?

implementation and tracking

To Optimize every profit area in your business – you need to have not only  effective strategies and tactics but a way to track them and their ROI  effectively.

Implementation and Tracking
slide97
“People respect what  you inspect.” Chet Holmes

Set up weekly and monthly times to review your  implementation.

Implementation and Tracking continued...
email me at stacey@business optimizer coach com

Email me at:Stacey@Business Optimizer Coach.com

Follow me on Twitter www.Twitter.com/StaceyHylen

Link with me on LinkedIn www.linkedin.com/in/staceyhylen

Friend me on Facebook www.profile.to/staceyhylen

next steps
If you want one on one support with implementing these strategies and more to grow your business email me at strategysession@BusinessOptimizerCoach.com or call me at 1-866763-0713 to schedule a FREE strategy session.Next steps?