OK, so there are lots of ways to increase your sales. Many of them are large projects and take a while, and that’s OK of course, business is an ongoing process. Sometimes, however, it doesn’t have to be that hard. Sometimes giving your revenue a bump can be pretty simple and straightforward.
With that in mind, here are some ways to put a little more cash in the kitty that can be done quickly, and it all starts with identifying your best customers / clients. These are the ones you REALLY like to work with, not just the ones who pay on time. Which clients want the most interesting work? Which ones are great people that you love to work with. Start there!
- First, look at your best clients, notice what is common to them. How can you target your products and your marketing to be even more compelling to them?
- Next, where did you find them? You can also ask them where people like them gather. Maybe you can look there for more clients like them!
- Ask them what they like about your products. Ask them if they have any needs not being met. Look for opportunities to up-sell and provide additional value (like a waiter asking if you’d like dessert or coffee after your meal)
- Ask them for an introduction or referral to similar clients. Depending on the nature of your business, maybe you offer them a referral bonus or some free product if they make an introduction that becomes a client.
Then, look at your least favorite (or worst) customers and clients. Really take a look at them. Be honest, are they worth it?
- You may find out that with all the hassles and headaches and extra time spent pleasing them and fixing stuff that isn’t working, you’re losing money. If that is the case, then wrapping up your relationship at the earliest possible moment will actually put money back in your pocket.
- Even if you are making some money on them, it may not be worth it, and you may want to take the risk and let them go, so that you increase capacity for the clients you do really like.
- Just like above with your best clients, notice what’s common to your least favorite clients. These are the “red flags.” When you are dealing with potential customers or clients who are raising red flags, you may want to decline to work with them or build in a “pain-in-the-a**” premium next time you negotiate a sale, in order to make it worth the hassle to keep them. Depending on your billing model, you may be able to add on that same premium to existing clients, and if they don’t want to pay it and they leave, oh well, no big loss.
So that’s it, some ideas to quickly improve your bottom line by focusing on your best customers and clients, and looking to offload or upcharge your worst ones.
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