Ways to Grow Your Business – #1 Winning New Customers

There are 4 fundamental ways to grow your business: win new customers, get them to come back to you more often, get them to spend more when they do, and improve the processes in your business to ensure that you achieve the first 3.

When you think about any other strategy, such as cutting costs, it won’t grow your business unless you use the money you save to promote your business.  It may let you control your business better and return greater profits, but it won’t grow your business.

To achieve maximum results for your business you need to focus on all 4 issues.

#1: Win new customers of the right type.

#2. Increase the number of times they deal with you.

#3. Increase your average sale or ‘transaction value’.

#4. Improve the effectiveness and processes within your business to ensure achievement of the first 3!

There are hundreds upon hundreds of ways to win new customers. 

Here is a list of just some of those key strategies to do just that.

  1. Advertising and letter writing.  Target marketing is important – identifying your ideal customer or your customer profile can make your marketing more efficient and more results-driven.
  2. Unique Core Differentiators – People buy differences they perceive between businesses. Did you now that there are 3 UCDs? 
  3. Sales systems and techniques – Understanding the prospective customer’s real needs by asking detailed questions, talking in their language, gathering feedback, empathising with their concerns – are all crucial steps in the sales process.
  4. The Phone – Improving phone handling and over-the-phone techniques. The use of phone scripts may alleviate anxiety, increase conversions and increase sales.
  5. Other Promotions – Direct mail, networking, seminars, competitions, trade show exhibits, TV, Radio.  The key is to be constant and consistent.
Win more new customers by reviewing the these five major areas.  Start with your Action Plan? (What needs to be done).  Outcome (Results to look forward to).  Person Responsible (Make sure you involve others, if possible!).  To be done by: (Set a date).
For more help Contact Metta from Align Business Life Coaching.

What’s a SMART Goal?

Whether you’re starting out in business or in business – it’s important to set goals.  Having a clearly defined goal will give you direction and the steps necessary to take action.   The key to setting goals is to use the S.M.A.R.T. acronym.  The meaning of this is as follows:-

S is for SPECIFIC – Ask yourself what you want to achieve and the actions you will be taking to help you reach your goal. For example,  I want to increase my turnover by $1,000 per month for the next 12 months as opposed to simply stating, I want to increase my turnover.

M is for MEASURABLE – A measurable goal is one that you can actually physically measure.  If you want to increase your turnover by $1,000 a month, then you need to start tracking your turnover and measure it against the same period in the previous year.

Goals are simply a tool to focus on and move us in a direction.  When we learn to overcome the obstacles necessary to achieve our goals, they can help us expand and grow.

A is for ACHIEVABLE – It’s extremely important to ensure your goal is achievable.  It can be very demotivating if you set  goals to high and never achieve them. 

R is for REALISTIC – When you set your goal, you will have your end target in mind but you need to be realistic in your expectations.  For example, it may be unrealistic to increase your turnover by $1,000 every week.

T is for TIME FRAMED – A time framed goal has a specific date or length of time that you will set yourself in order to be able to achieve it.

A very important part to setting your goals is to write them in the present tense so they become more realistic in your own mind.  Goals written in this way have a much more powerful effect.  By writing goals like this it is almost as though you are just recording what you have already achieved.

Have a reward of some kind at the end when you achieve your goal.   Been is business needs to be enjoyable and everyone likes to be rewarded and that includes ourselves.

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