Monday, July 22, 2013

How To Grow Any Business – Part 5

Monday, July 22, 2013 7:14 AM

In our last post that we made concerning How To Grow Any Business, we focused on increasing the number of transactions our customers do with us. In this post of How To Grow Any Business we are going to continue our focus on:

How To Increase The Number Of Transactions Our Customers Do With Us.

However, in this post we are going to give real, actual case study information on what took place. It’s easy to say things should work out a certain way but it is another story to actually have done it.

We know that we have stated this many times in the past but we are going to state it again; only take advice from those that have actually done what they are suggesting that you do.

Here are some of our real life examples:

            -We were working with a company that was doing about $10,000 per month in business with a very large company. When we went over some things we found they were missing out on a lot of what they could get by just asking a few questions.

            We went over the questions with the large company and showed them where we could  help them. We did a small test and they were happy with the results which led them to go from doing $10,000 per month to over $1 Million per month in 90 days!

            How did we do it? We asked them what issues they were having and if we could solve the issues would they give us the business? They said yes and we followed through and won.

            -In another instance we were told by a company we were working with that they were having a hard time winning business from a particular military base. We went with them to the base and found
out the problem. The military believed they were being taken advantage of by a company and thought our client was part of it. Once we showed them         beyond a doubt that our client was not involved they gave them the business. In fact, they won several hundred thousand dollars in business per month after an initial giant order!

How about some specifics?

            -In the first example above, we found out the problems the large company was having.      They had issues with shipping and receiving, placing orders, getting their concerns   resolved, etc. All things that were easy to solve if someone just asked them. Once we went through their issues and came up with a way to solve them – we won the business.

            -In the second example above, the military base was having an issue with people listening to them. They wanted someone to take away their pain and for this they would give them   between $10 Million and $12 Million in business right away, but no one was listening - until we showed up! We heard them loud and clear. Our client company was letting their reps dictate to the customer what they were willing to sell and what they weren't. We had to help change their mindset as to who this was about. Remember this – it is ALWAYS  about the customer.

            Once we re-established the right perspective, we had over $10 Million in business within   less than five (5) days with more orders to come and everyone was happy.

Listen, Listen, Listen!

Make sure that you always listen to the customer. Not only should you be listening to what they are saying but listen to what they aren't saying as well and you will be well equipped to quickly turn your situation around.

In order to increase the frequency that your customers buy from you, come up with a back-end business. Most people are focused on the first sale but you should always be thinking about what else you can offer.

What about running special closed-door sales, only for certain customers. You can offer pricing inducements for frequent buys, monthly service contracts, auto-ship programs, seasonal sales, freebies for a certain amount of buys they make per month, and the list goes on.

There are so many offerings you can make. Take some time and make a list from your customer’s perspective. Ask yourself, if I were in their shoes what would I need, when would I need it and so on. Base everything you do on making the life of your customer easier, more rewarding, more fulfilling, more meaningful and they will beat your door down with more business than you could ever hope to come up with through a sales effort alone.

In our next post we will discuss how to increase the average size of your customer’s transactions. Until then, we wish you all success!

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