Resolve To Be Resolute
Happy Holidays and Happy New Year! We all know people who have joined gyms with nothing but the best intentions…
- Only 12% of all gym members sign up in January.
- 80% of those who joined a gym in January quit within five months.
- Only about 18% of people who buy memberships use them consistently.
- 44% of gym-goers exercise with another person.
- Bankrate.com rates unused gym memberships among the top 10 money-wasters.
I am not trying to make you feel guilty before you even try to get healthy, but we all know the urge for change at the beginning of a new year. It's no different in business either … we all start the year with the best of intentions, and then we get busy.
What's Holding Us Back?
I can tell you that I honestly start off every year with some lofty goals, but end the year with less than the projected results. Is it from lack of effort? No! Is it from lack of focus? No! Is it from a lack of planning? No! So what was it that has held me back from realizing my goals?
What holds us back is not having the systems in place that allow us make the effort where focus and planning become measurable, repeatable, and successful. Not just any system, but the right system for you. In working with people across so many industries, and various sized companies, it has become clear to me that there is no magic bullet or one size fits all solution. You need to have a system designed specifically for you and your business in order to realize uncommon growth!
Trust me, I have the same issues and yet, I created a system to make the last half of 2015 one of the most successful! How does going from -3% gross income in June to +20% gross income in December sound (net is up over 100%)?
Marketing expert Jay Abraham has taught us that there are really only three ways to grow a business…
- Increase the number of clients – get more new prospects turned into paying customers.
- Increase the average transaction – get each client to buy more at each purchase.
- Increase the frequency of which the average client buys from you – get each customer to buy from you more often.
Where Do Most Of Us Fail?
I would guess that most of us suffer from BSOS (Bright Shiny Object Syndrome), the newest marketing philosophy or the WordPress plug-in du jour. We start out with the best of intentions, but then the latest and greatest thing that is going to revolutionize the world distracts us.
So why do we fall for that? It's because we are always looking for the easy answer that will propel us forward faster and more better (yes I said that)!
What we really need to do is to focus on is what makes the most successful even more successful. I recently interviewed two internet marketing millionaires on the BaconPodcast.com (coming soon). Both of them had the same basic advice about focus and customers. It all boils down to the leverage you have built, rather than constantly trying to create new business.
The Customer Focused System
So many systems are focused on more traffic to your website, finding new customers, and so on, that they neglect the most important asset you already have – your current and past customers. So, let me tell you what I have learned over the last year that has made such a difference in my business.
- Current Customers – People in the process of doing business with you can be the greatest referral source you have. They have already determined that you are their best option. Make it clear that you are happy to have them as a customer. Then, offer them some kind of incentive to recommend you to any potential new clients. It can be free shipping on your next order, a 2 for 1 special, or extending a service for another month at no charge. Whatever it is, you will never have a better chance to capitalize on a happy customers, than when they ARE your happy customers!
- Past Customers – Oh the forgotten ones … maybe they moved on because they have outgrown your service or products? Maybe they are just dormant because they are in between needing what you provide? Either way, you need to keep them in focus. Maybe send them a thank you note or a letter explaining your latest offerings? Make sure they are on your email list, in your social media feeds, and be sure to thank them and let them know how much you appreciate their business and referrals (if appropriate).
- New Customers – I have often heard it said that it costs 10 times more to get a new customer, but content marketing and social media can soften that blow. Social media offers social proof from current and past customers when they like, comment and share your posts. Keep current and past customers engaged, and maybe they can lead you to the new business you want and need. This is one of the most important parts of the system I have employed and, in turn, taught my most successful clients.
I know this may be business 101 to some of you, but the landscape is changing so fast that maybe you have forgotten some of the basics. This may be a complete “Holy Crap” moment to others of you. Either way, recent interviews on my podcast have reminded me how important this is. It's not all about internet marketing. It can be all about writing letters, sending postcards, or picking up the phone. Most everything I did in the 1990's still works and is as important today.
I would love to hear your thoughts, insights, and comments!