There are a couple of ways to grow a business. The expensive way, or the easy way!
- Put a lot of money into marketing, advertising and branding. (And I do mean a lot!) or
- Get everything in the back end right!
Without doubt, the most confusing and frustrating part of running any business, (that doesn’t have a million dollar marketing budget) is trying to get even some return from your marketing dollar. But all too often, small to medium sized businesses rely on free social media as their primary marketing platform and continue to look at the likes they get, but wonder why the sales don’t increase. Let’s face it, social media doesn’t work like it did only a short year ago, and continues to get harder and harder, without spending something and if you think a budget of under $1,000 a week will get any results, think again.
Regardless of how you market or advertise, if the backend of your business isn’t setup right, you’ll only need to keep on spending more and more money. Loyalty, without some way of creating a long term relationship, is harder than ever, but in fact the expectation hasn’t really changed over the last fifty years, we’ve just got lazier.
Businesses, regardless of what they do, sell or make, need some fundamental sales skills and processes, structured followup, ongoing relationship so those customers come back again and again, plus good training, support and management of everything from your team, to your clients. You either do that, or keep spending more on marketing.
Over the last year, I’ve been amazed at how little, businesses have looked at the opportunity of how they attract and retain customers. We keep hearing the word adapt, but nothing has really changed and here we are a year later, and they’re all still doing the same thing. Including poor service, no followup, no attempt at building relationships, including collecting data, so they can keep in touch. (It’s almost like, you’ll be back right?)
So here’s just a couple of simple ideas, that start what I call the SellServiceGrow process.
1: Sales growth: have some structured process to grow the sales, and customer numbers. Don’t rely on luck, for the next customer to walk in.
2: Service experience: Smile, give them an experience that makes them come back and build the relationship and the only way to do that is collect data.
3: Grow: What needs to happen to increase the client numbers, the frequency they come in and the amount they spend. Those three KPIs could be different depending on the business, but it’s fundamentally the same concept. Increase each by only 10% and that’s a 133% increase from your current turnover.
It’s not always about what you do in business, but about what you don’t do. Sometimes you need to take a step back and look at what goes on, through someone else’s eyes, the customers, not the business owners.
Uncomplicating business is actually easy, and often it’s simple little changes, that at some point, you may have even done before, but just forgot.
Get the backend right first, then do the rest.
Welcome to uncomplicated business growth.
Welcome to Mybusinessnow.