My #1 Tip For Creating Crazy Profits
There’s one thing that nearly every business owner who comes to me for professional business coaching and mentorship asks – and that is: “How do I generate more leads, make more sales and ultimately make more money!?”
My answer to this often shocks the business owner. I think they’re expecting me to give them an elaborate marketing plan, outline an intensive sales training course and explain that it’s going to take lots of money and time to build up their business to the point where they’re generating the number and quality of leads they ideally want.
Instead, I tell them the one single thing they can do that’s cost-effective and will also help them generate the kind of crazy-level profitability they’re dreaming of. What is that little, teeny tiny, three word piece of advice? Easy:
Give to get!
You see, giving your potential customers an opportunity to get to know your product/services and your business, as well as test these out for themselves at low to no cost/risk, is one of the quickest ways you can build credibility, trust, create a feel-good factor and demonstrate the value you offer. From here you’re in a much stronger position to make a sale to someone than you were if you just asked them to ‘take your word for it’.
Imagine if you were in the market for a new leather lounge. You go into a nice showroom and find a beautiful sofa in just the right shade and configuration for your needs. In fact, it’s going to fit perfectly in your lounge room. All that’s left is to touch the leather to check it’s as soft as it looks and finally, take a seat to confirm that it’s as comfortable as you imagine.
Now – suppose the showroom assistant didn’t allow you to touch, or even sit on your dream couch! What would you do? Would you buy it anyway? I highly doubt it. You’d most likely walk right out of there and take your business with you, right?!
But think about it – this scenario is exactly what many companies do every day: expect a customer to buy a product or service without giving them the opportunity to undertake a trial first. Now don’t get me wrong here, I’m not advocating that you give away your products – that’s a sure fire way to send you broke faster than you can say ‘crazy marketing scheme’. What I AM saying is that you should allow your prospects to get a taste for your services or knowledge, so that they have a chance to build up trust and develop a connection with you.
Not sure what I mean? Well, for example, you could give away a free eBook on a topic of your expertise. To receive this eBook your prospects would first need to provide their email address. You could then send them a series of value-added, interesting emails regarding a need or concern they have. The result? They begin to get familiar with your company, your product/service and appreciate the free, relevant information you’re providing, so they begin to establish connection with you and your brand.
Ok, so after you’ve used an initial free offer to build your database and establish trust with prospects, when do you actually get them to buy? Again, you need to have a strong offer. Something with pulling power. Offering something for free here always works well – or you can offer something for practically free.
- Some companies give away free mobile broadband dongles with their contracts, and
- Mobile phone companies ‘throw in’ the phone when you take out a contract with them. Google gives away its search services in order to attract viewers for the unobtrusive ad space they sell.
These ‘freebies’ are factored into the price that businesses sell the initial product at, so you’re not actually ‘giving’ anything away – you’re just making it more enticing to buy. The higher the perceived value of the item you give away, the more money you’ll make. Make sure you’re giving something away that your prospects need – whether it’s a product, or information.
Give to Get! That’s my number one tip for creating a situation of more sales, bigger profits and greater success. Good luck with it!!
Have you tried a ‘give to get’ strategy before in your business? If so, did it work? Or, what were your challenges? Post a comment below and let me know.