Here are the five key money-makers for your business, says Kim Morrison
Inaction is the death of any business so now is the time to look at what you can do in 2021 to generate additional sales. Without taking regular action every single day to grow your business, inaction will cause your business to become stagnant. Clients will disappear, your sales funnel will be empty, and your sales revenue will dip to zero in a heartbeat.
Let’s avoid this scenario!Here are five action tasks that will lead to increased income and business growth in 2021.
1 Email your customers regularly
Contrary to popular belief, email marketing is NOT dead.
Email is the easiest way to stay in touch with customers and prospects to let them know about your new offerings, products, services and promotions. However, you need to make sure you don’t just bombard your email list with sales promotions but mix them with valuable content too.
2 Focus on customer service
You’ll never please everyone but you may as well try your best. Inevitably customers will contact you with questions or refund requests so be prepared to answer these requests in a timely manner. Stick to your rules about refunds but never disregard or disrespect a customer. Negative online reviews are easier to find than positive ones.
3 Increase your prices
When was your last price increase? Are your prices competitive with the current market of businesses of your calibre? Can your ideal client still afford your new rates? Be confident that your expertise is worth that new rate and break the news carefully to your current clientele so they don’t jump ship.
4. Repackage your offerings
Don’t reinvent the wheel. Simply take your older content – books, programs, blog posts, white papers – and create new bundles or an entirely new product. The information or products should obviously be a topic that would appeal to the most people and make sure to price it accordingly.
5 Create a new offering for old clients
People buy from those they know, like, and trust, so open up your existing client list and create an exclusive offer just for them. Make the offer sexy, exclusive, and time-sensitive to get quick action
How do you know what to offer?
This is an age-old question of many business owners and it boils down, as always, to knowing your target audience. How do they want their information presented? What are the hot topics in their industry? What struggles do they have every day? The simplest way to know what they want is to simply ask them.
Another reason you might not know what to offer is because you don’t have a plan, either for your business or who you want to help. Writing a business plan with action steps is imperative for business growth.
I covered the main areas you need to think about in my last article but if you’re not sure, please get in touch.
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