Good Business Comes In Threes
Throughout our lives we see and hear things in threes. Three little pigs, three wise men, rub the magic lamp and get three wishes, in song ‘Three Times A Lady’, even going back to World War II, ”three on a match.” Some sets of threes bring good luck, others bad.
When talking about successful marketing there are several threes that can mean the difference between success and failure in your business. Doing just one or two won’t get the job done as well as doing all three. Here is a sample of how threes can increase your business as well as your bottom line.
First break your business down to its simplest form. What three things do you need to succeed? Obviously you need customers, you need customers to buy your products and services, and finally you need them to return over and over again. Lets take each one and break it down.
1. Increase Your Customer Base and Increase Your Bottomline
It’s true that every business needs customers but it doesn’t stop there. You do need a customer base but you also need to steadily and consistently increase your customer base. People die, move, or stop doing business with you for a variety of reasons. Some you know about most you don’t. In order for a business to grow a smart strategy is to always be increasing your customer base.
There are only two ways I know of to get new customers. The first way is to steal them from your competitor. If your competitor is dropping the ball in service or products those customer are ripe for the picking. The second way is to create a customer from someone who was not one before. For example, your son or daughter turns 16 and can now drive. They become a service station customer, auto mechanic customer, car wash customer, insurance customer, tire customer, oil change customer, and need a host of other services.
2. Purchasing and Merchandising Leads to Big Bucks
Even if you increase the customer base to the hundreds of thousands it means nothing if they don’t buy something. Is your business geared to sell or to assist the customer in buying? Do you know your average sale? In addition to adding customers you should also be increasing your average sale per customer. Take a good look at your product line. Are there sales you might be missing?
For example, if a customer buys a DVD player you might also sell some movies with that purchase. If I customer buys a digital camera, you might sell a carry case, additional lenses, cable for computer hook up, an extended warranty, and additional memory.
What’s the difference between these two sales? The second one is going to greatly improve your average sale and be more profitable to your business. Analyze your products and service with the mindset of creating ways of increasing your average sale.
3. Build Repeat Business With Strong Followup
If there is one secret to bringing customers back its good follow-up after the sale. Its not the only tactic but its one that lets you know immediately if the customer is satisfied with your products and your company. It also lets the customer know they he/she is more than just a number to you. You show them you care about your service and their perception of your company.
Along this same line comes customer service. What kind of service are customers looking for? For the most part they want good consistent service. You don’t have to “wow” them in order to earn their loyalty. But you do need to provide them with the best you can provide each time they walk in the door.
Some Final Thoughts
If you attract more customers, improve your average sale, and retain your best customers it’s going to be a lot easier to be successful in your business. It’s not easy to start such a program but after you put one in place and begin to monitor what’s going on in your business I think you will find that it gets easier each day. Work smarter, not harder.