This month in 1867 Alfred Nobel patented dynamite. It was to make the Swedish inventor a multi-millionaire. Since then his ‘Nobel Prizes’ have immortalised him.Now, for obvious reasons, you wouldn’t want to add dynamite to your business, but we’ve found that there are a number of ways to add ‘BIG BANGS’ to give you large and sustainable increases in sales and profits. For example, almost every business can get immediate and significant results by implementing these 7 ‘BIG BANG’ strategies…
1. Improve all headlines: Look at all your marketing pieces (adverts, brochures, leaflets, website, etc.) and improve the headlines in each piece. Headlines are the most important element in every marketing piece and a good headline can increase results, often by 500% to 1500%. Incidentally, never use your business name as the headline (a common mistake).
2. Add a powerful guarantee: Guarantees help you convert more enquiries into customers. They give your customers confidence that you ‘stand behind your product or service’. Guarantee the result of your product or service and watch your sales soar.
3. Create an irresistible offer: Al Pacino got it right in the Godfather films when he uttered the words: ‘I’m going to make him an offer he can’t refuse’. What can you add to your existing offer that your potential customers can’t refuse?
4. Collect customer details and market to them frequently: If you don’t know who your customers are, then you’re missing out on a goldmine. This is particularly true for people running restaurants or retail stores, but most other businesses who already know who their customers are, still don’t market to them frequently enough. If all you do is make contact with your customers at least 24 times a year, you’ll see your sales rapidly jump.
5. Up-sell:The moment a customer buys from you, they are more susceptible to buying something else from you. This is a golden opportunity to sell them more or larger quantities of the product or service. McDonald’s have been experts at this for decades. The 6-word up-sell ‘Would you like to go large?’ has made them millions in extra profits.
6. Cross-sell: Similar to up-sell, except this time you offer new customers a complementary product or service to the one they just purchased. Using McDonald’s again as the example, ‘Would you like fries with that?’ can be easily transferred to your business.
7. Send a ‘Buyer’s Remorse Letter’ to new customers: A ‘Buyer’s Remorse Letter’ is a letter (or postcard) you send to customers after they have just purchased. This helps to cement the sale and gives you another great opportunity to sell something else to them.
Whilst you may have heard of most of these strategies, it’s highly likely that you don’t use all of them. Every one of them will help you quickly grow your business and, in these current economic times, applying low-cost strategies that will work instantly for you is a welcome blessing.