Strategy Session

The Two Ways to Grow a High-Performance Business

customer existing customer grow business high-performance business marketing May 18, 2022

If you want business growth, you need to increase the number of people who know, like, and trust you and your business. Discover how you can do just that. 

Working with Tony Robbins gave me some of the best opportunities I've had in my career.

But I didn’t just get to see a master at work. Being with Tony also exposed me to some of the best minds in the business world.

Through my work with him, I met a guy called Jay Abraham.

Jay is a marketing guru.

Let me correct that:

Jay is the marketing guru.

He’s known to his many billionaire friends as the guy who helped them grow and scale their businesses. And I had the opportunity to connect with him and pick his brain a little about what it takes to grow.

Jay told me there are three ways to grow your business. 

But I’m not going to give away all of his secrets here. Instead, I’m going to share two of Jay’s three growth methods that can immediately impact your business.

The 2 Methods

Method #1 – Increase the Number of Customers You Serve and Deliver To

This is the one that everybody focuses on.

However, it’s also the hardest technique to implement. 

This method requires you to get new leads in, close them, get a deal in place, onboard the new client, and then deliver the result you promised them.

It’s pretty much business 101. But it’s also challenging.

Now, there are many things you can do to introduce new leads to your businesses.

To start with, you could design an ad campaign that’s designed to generate leads. Today, we have tools like Facebook and Google Ads at our disposal that make this a cost-effective method of finding new people.

Or, maybe you start an email marketing campaign. With email, you get to talk directly to your potential clients about their problems and the solutions you can offer to them. Pretty much everybody has an email address, making this one of the most effective ways to find new customers.

I’m just scratching the surface here.

Blog brochures, vehicle signage, buying databases of prospective clients, and sharing your client success stories all help to attract new people. The same goes for direct mail, email signatures, PR work, networking, radio, TV, SEO…

The list is almost endless!

And that’s where the challenge lies.

There are so many ways to generate new leads and create more customers to serve that it can all get overwhelming. Before you know it, you’ve spread yourself and your budget too thin to make any of them effective.

So, this is where I recommended working with a good marketing strategist. 

A strategist helps you determine which of these many marketing techniques is best for your business. They’ll help you figure out where your audience is, what types of marketing they’re most likely to engage with, and how you should spend your money to get the best possible return.

Method #2 – Increase Transactions With Your Existing Customer Base

New customers are great for business.

But what about the people who already like, know, and trust you? These are the people who’ve already bought from you, which means you’ve done all of the challenging work of introducing them to your business.

Truth is, your existing customers can be one of your greatest sources of growth.

To make that happen, you need to start asking yourself some questions.

First, look at an existing customer and ask yourself how often they buy from you. Is it once per year? Twice? 

Maybe there’s something you can do to make that person buy from you three, four, or even five times per year!

Also, is there a different service offering you can provide to that customer by cross-selling across your network? Maybe that existing customer could refer somebody else to you who is just like them. 

The key here is to ask yourself how to take your existing client relationship and double or triple it. 

That may come from offering different services, asking the current client to refer somebody new, or just helping the client see how they can make better use of what they’re already using.

I remember what a good friend and mentor of mine once told me:

“You’re doing your clients an injustice if you don’t offer them every single solution you can to help them advance their lives and their businesses.”

Keep those words in mind when offering existing customers new services. 

And think about it like this: 

If you make an offer to 10 existing customers and only one accepts, that’s still 10% growth in your business that you’ve just achieved.

Ultimately, you’re looking for an increased volume of transactions from the people you’re already selling to.

The question now is… How?

How do you sell more to the people who are already buying from you?

I’ve already touched on a couple of ideas that can help you.

Asking for referrals means that you’re not directly selling again to your existing customers. Instead, you’re leveraging them as a source of new leads. But more importantly, you’re getting recommendations for leads from somebody who already understands what problems your business solves.

Again, email marketing can work when selling new things to existing clients. Use your emails to educate your clients about the different services you offer. Speak about their problems and help them to see that you do more than what they initially bought from you.

Speaking of education, any client education session that enables you to provide more value and help your existing customers can be a source of more transactions.

Focus on New and Old

As business owners, we often get tied into this idea that we have to constantly generate new leads to grow.

And we do.

But it’s just not the only path to growth that’s open to you. 

Your existing customers can accelerate your company’s growth just as rapidly as your new customers. Better yet, it’s easier to do so because you’ve already done the hard work in terms of marketing and selling what your business does to those current customers.

Yes, focus on bringing in new people.

…But never forget that your existing customers can help you increase your transaction volume just as effectively.

 

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