“My sales exploded this month!” (said my client).
“I just about doubled my revenue this month” (said me).
“It’s so easy!” (said another client).
So, you might ask…. What was the cause of these increases???
- It wasn’t a price increase!
- It wasn’t acquiring new clients!
- It wasn’t hosting a webinar or masterclass!
- It definitely wasn’t posting on social media!
It was so simple that most business owners totally forget to spend time on this part of their marketing funnel.
- This marketing strategy was the topic of my very first workshop back in 2014.
- It was the topic of the very first business book I bought!
- It was the topic of the continued talk I gave!
And I thought it was time that I talked about it again.
Any idea what it is? It’s what I call – the Fastest Path to Cash!
No matter what industry you are in; no matter what stage of business you’re at – the fastest path to cash continues to be …
SELLING MORE TO YOUR CURRENT & PAST CLIENTS!
The cost of acquiring a new client can be as much as 6-7 times more than either retaining a current client and selling additional products or services to a current client.
Selling more to current clients can be so simple!
1. Following up with clients about their current situation to see if you can offer additional support with your products/programs/services.
For example: Shortly, I’ll start working with another staff member of a company where I currently just coach the CEO. However, as she steps into her role as CEO, she must ‘let go’ of daily administrative task. The job of her current business manager is now evolving into becoming the Chief Operations Officers (The CEO is the outward face of the business; the COO is the inward face of the business). So, I sold another service to the same company that already knows, likes, and trusts me!
2. Another way to increase cash flow fast is to be continuously checking in with past clients by using a CRM (Customer Relationship Management tool such as Zoho; LessAnnoying, etc. – remember SYSTEMS!!!) Using a CRM, you can follow up with current and past clients by assigning follow up tasks to them.
Staying top of mind with clients is how you generate additional sales without working harder. That’s how my client exploded her sales – she spent 60-days focused on following up with past clients who had purchased her product to see if they needed additional products! The orders started pouring in.
It’s like a car dealer, real estate agent, or local retailer. sending you emails about new products or services. Since you already know, like and trust them, you are so much more likely to purchase from them when the need arises.
3. A third way to build your Fastest Path to Cash system is to have graduated programs or services. Some people call this the spiral method. You build your business offerings so that once your clients ‘graduate’ from one program, you have the next program for them to continue to work with you.
Here’s what I mean. Let’s say your prospect’s biggest challenge is clarifying their messaging and getting consistent sales (that might be your entry-level program). Once they graduate from that program, not only has their business matured but they want MORE from you because they know, like and trust you. So, you offer them a program about learning how to delegate, set boundaries and lead a team. (The first program addresses their needs at the first stage of business growth – Glorified Employee; and the 2nd program addresses their needs at the 2nd stage of business growth – Manager to CEO.)
What’s your fastest path to cash?
Do you have a systemized way of keeping in touch with past clients and asking them if they need your support?
Do you have a follow-up system or CRM?
Have you built your business so that clients can graduate to a 2nd or 3rd program?
I thought it would be fun to offer you another support document to help you implement a follow up system … it’s a bonus document that I created back in 2015 – so check out the difference in the branding and layout – but know that the content is still so relevant!!!
YOU CAN DO THIS!!
1. Subscribe to the GROW Equation Business Podcast – Click here
2. Applications are open for the new cohort of the GROW Accelerator Network (GAN) that begins with a full-day live retreat on July 7. This year-long, group program is for busy business owners who want to ramp up their profits! The beta-version of GROW Accelerator Network began in January with their Profit Plan for 2022!
3. Become My Next Success!
If you want to work less and earn more, I’m working with a select few service-based business owners to help them create and implement a game plan so they can have more joy, more profits and more time away from their business.