Getting 10X The Revenue From Everything You Do
When I’m working with a client to plan their marketing action list, one of the things I always look to do is take a campaign they’re currently doing that IS working, and see how I can make it pay bigger. Unfortunately, most people don’t have this ability, simply because they never put their mind to it.
For example, when you meet with a prospect, do you ask for a referral? How about after they buy, in exchange for some gift or slight discount? What do you have to lose? When closing the sale, do you offer an upsell of some kind? A warranty on new equipment? A phone system? PREPAY for the year for a 5% discount? When you go to a trade show, do you also make a point of visiting with (prospecting) the other vendors when folks are in the session? Maybe they could be a good joint venture partner or a referral source. Maybe they could become a client for you too. You’re already there, so why not make the most of it? Meet with the hotel manager and staff. Walk around other events going on. In almost every case, whatever you’re doing can be PULSED if you simply sit and think about how to maximize the opportunity.
At a recent Rapid Implementation Workshop, a member told me about a trade show he does every year. Routinely he gets 300 leads and about 30 clients. My questions: What are you doing in advance of the show to get more people to your booth? A room drop? Pre-event mailing? Next, what are you doing to draw people into the booth? A popcorn popper? Fresh baked cookies? He WAS springing for a coffee station/barista, which is smart. While people are waiting for their double-foam, extra-hot latte, they’re selling. Good. Next: What are you doing to get people to buy? What’s the offer? We struck upon a camera device that was a best seller that he could include a year’s supply of protective sleeves if they buy at the show. Next: What could we offer as an upsell? How about a second camera for half off? How about installation and support? IT support? (That’s what he was gearing up to sell.) Next: What do you do with the 240 leads that DON’T buy? Do you follow up with a specific campaign to reiterate the offer? Phone, e-mail and direct mail coordinated to a specific offer with a deadline? What about collaborating with the event host to see if you can do a post-event mailing? Collaborate with the other exhibitors to see if they’ll do a promo to their list in exchange for you doing one to yours? Wasn’t doing ANY of these things. Took me all of 60 seconds to come up with that list above; I’m sure I could figure out a hell of a lot more if I gave it some serious thought. I’m confident he could bump each sale significantly and convert another 10% of leads just with those simple strategies. To his credit, he was writing furiously, taking careful notes. My hopes are high for that one!
Now, back to YOU. How about thinking of every marketing campaign you’re doing and brainstorming five, 10, 20 ways you could squeeze more juice from that orange? You’re already there, committing the time and the effort, so why NOT force yourself to come up with a list of ways to 10X the results?