How To Double Your Business – Lesson 3

I hope you’ve got to work implementing the first 4 strategies.

Here they are again, just to refresh your memories.

1. Re-activate lost customers – easy, because you’re just digging around your customer database and you’ll be amazed what happens

2. Make more offers more often – the simplest way to build up a loyal tribe of devoted followers who will love giving you their money

3& 4. Monthly printed and weekly electronic newsletters – if there was ever a powerful combination this is it! Just write the articles, the offers and outsource the rest. You’ll lock your customers in for life, promote even more offers and even build up a heap of referrals, simply because you keep your business smack bang in front of your customers constantly.

OK, now on to strategies 5 & 6.

Strategy 5. Reward your frequent buyers and make them feel like VIPs. I bet if you worked it out that your business follows the 80/20 rule. In this case, 80% of your money probably comes from about 20% of your total customer list. So it makes sense to reward those 20% and make them feel extra special, right? Why not create a special club for them, then give them better offers, priority access to you and even more information more often. You can even share their successes with other top clients, to create a feeling of belonging. (HINT: The need to belong is one of the big emotional drivers). What else can you do for this group? Why not a free audit of their current situation. I bet you can do this in just about any business. How about a coffee mug or something similar at Christmas, or even better, on their birthday.

After all, this is the group that spends the most money with you, so make sure you treat them the best.

Strategy 6. Slice up your list and send them customised offers. This one is a great one too because you’ve probably got most of the information in your customer database or at least in your head. If you’re an advisor, send all the business clients a specific offer just for them. Or if you’re a bike shop for example, send different offers to customers who are road cyclists, mountain bikers, recreational cyclists and so on. If you have a number of customers who spend money on a certain brand of shoe, or who spend a lot on shoes in particular, just send them a special offer. Don’t clutter your customer’s mail boxes with offers that are irrelevant to them or they’ll quickly ignore you. Far better to contact them more targeted.

Incidentally, once you know more about your customers you should write to them differently, according to who they are. For example, writing to the affluent is very different to the budget conscious. A generic letter to both types of customers will not work anywhere as well. You’ll probably mix it up so much you’ll get a far lower response than you should.

Oh, that reminds me. Have you got a customer database? If not, you’ll need to do this. Its easy enough to start one in a spreadsheet, but to get a little more advanced you’ll be better off with a Microsoft Access one. There are plenty of people around who can put it together for you if you just tell them what you want.

Next week I’m going to give you strategies 7 & 8. Another two strategies that will put even more money in your pocket. They’re easy, and they’re powerful. Is there anything else you could want!

I look forward to sending you this article next week.

All the best,

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