In this weekly edition, I share the only 3 ways you can grow your business.
Marketing in 2 Minutes or Less: 3 Ways To Grow Your Business
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Here’s the transcript:
The only three things you need to do to have extraordinary growth in your business . . .
Are you looking to have extraordinary growth in your business this year?
Of course you are. Well, good news. There’s only three ways that you can do that.
One, you can get more new customers, clients or patients.
Two, you can increase the transaction size by getting them to spend more with you.
Or three, you can get them to come back more often so that they spend more. Those are the only three ways to grow your business.
What I see a lot of small business owners do, is spend most of their time, effort, and money on number one, getting more new customers, because we always want to try something new. The shiny object syndrome. “I want to do email. I want to do direct mail. I want to do this. I want to do that”, and we’re always focusing on getting more new customers in the door. I want you to spend more time focusing on number two and number three.
Number two is increasing the transaction size. It’s so easy to do. For example, in my coffee and smoothie business where I already have the client, it’s very easy to offer upgrades that they’re going to want such as adding alcohol to their package, additional hours, perhaps there’s some decorations they want to buy. I already have the client, so to give them additional upgrades is just extra money in my pocket and doesn’t cost me any marketing dollars.
Focusing on number three, which is bringing that customer, client, or patient back again, an example of how I did this in my coffee and smoothie business, is I would add additional packages that they might be interested in. This is focusing on customer retention. For example, somebody who may have booked a smoothie bar with me in the summer, well now I can go back in the winter and let them know that hey, we do coffee, we do espresso, we have hot chocolate bar options, so then instead of having them come in one time a year, I bring them in two times a year. Again, not having to spend the time, effort, and money to go out and market and get more new clients.
Focus on those three marketing strategies, but especially number two and three, so that you can see extraordinary growth in your business this year.
I’m “Small Business Stacey”, your Small Biz Marketing Specialist, here to help your business grow to seven figures and more by helping you become a #SmallBizMarketingWiz
About Stacey Riska
Stacey Riska, aka “Small Business Stacey” is a serial entrepreneur who is passionate about saving small business and rebuilding Main Street. She helps small and local business owners become a #SmallBizMarketingWiz by teaching them marketing strategies that get MORE: MORE leads, MORE customers/clients, MORE sales, and MORE money. Stacey is the founder of Small Biz Marketing Specialist, THE go-to place for marketing tips, techniques and strategies that get results. Stacey is also the creator of the Daily Deals for Massive Profits Training Program, an online video training program that teaches small and local business owners how to use daily deal sites like Groupon to skyrocket their business growth and get massive profits. In this program she teaches from experience, as it was the key strategy that transformed her coffee and smoothie business from being $500K in debt to a 7-figure profitable business. When not saving the small business world, she enjoys sipping red wine, eating chocolate (who doesn’t!) and spending time with her amazing husband.