Are you a business owner that wants to maximise your potential, multiply your sales, profits and increase the value of your business? Discover how to quickly grow your business.
The following proven, actionable advice can be applied quickly and easily to your business, even if you have little or no sales or marketing experience or expertise.
Growing any business comes down to applying a few simple ‘growth practices’ to your business. The foundation of everything I do to help businesses grow quickly is by applying a proven foundational system known as ‘The FORMULA’ and it has 5 key components.
This is it:
( T × L × C × M )S = EXPONENTIAL BUSINESS GROWTH
Every sales and marketing tactic and strategy I reveal apply to any business fits in one of these 5 key components. Let me take you briefly through them…
‘T’ – TRANSFORM
To start with you need to TRANSFORM the results and performance of EVERY sales and marketing strategy you are currently using and those you add in the future. To do this you must deploy something known as the ‘Core Elements’. This is the science of marketing. The Marketing DNA.
The best way to think about the Core Elements is that they are the tactics that make marketing work.
There are 9 Core Elements and I will cover them in a future article but here’s the thing… the 9 Core Elements DO NOT cost a single penny to incorporate into your sales and marketing strategies.
‘L’ – LEAD GENERATION
The lifeblood of every business is its ability to generate a constant supply of leads or enquiries. Without leads, you can’t acquire clients or customers.
Lead generation, however, is often (not always) the most expensive way to grow a business. So you need to add as many cost-effective and proven lead-generation tactics and strategies as you can, the more the better.
‘C’ – CONVERSION
Just being able to generate a constant flow of leads is not enough. Once you have acquired them, you now need to convert as many of those leads as possible into paying clients or customers.
You do that by using several conversion methods. These are tactics and strategies which help move the lead through a journey to becoming a customer, ideally at the right price or fee.
For very little or no extra cost, you can get more clients and customers from the leads you generate, maximising your return on investment on all your lead-generation tactics and strategies.
‘M’ – MAXIMISE CUSTOMER VALUE
Once you’ve acquired the client or customer, you then need to maximise their value.
Without doubt, this is the most neglected part of almost every small and medium sized business. I do not mean businesses neglect their clients or customers, I mean they neglect their money-making potential.
There are four key areas that will help you maximise customer value:
- Increase frequency of purchase (getting clients or customers).
- Increase referrals (getting customers to recommend you more often).
- Increase average order value (increasing the value of every sale).
- Reduce attrition (keeping hold of customers for longer).
‘S’ – SYSTEMISE
So far we have covered the first four elements of THE FORMULA. They should become the backbone of your entire business. They will provide your business with… solidity, growth and profit, and ensure it is immune to outside forces, such as your competition or a changing economy.
However, to take it to an even higher level, one that accelerates your growth even faster, you need to systemise and then automate these four elements.
In other words, you get them working even while you are asleep or on holiday!
By systemising and then automating the growth of your business, you reduce the reliance on people, free up a huge chunk of time for yourself and ensure your business keeps moving forward at pace.
Furthermore, systemisation and automation reduce human mistakes and enhance results.
So, it is a win-win situation.
I have covered the key components of The FORMULA very quickly in this article but I will expand on each element in future articles.
Having said that, the next article will explain how you can use the ‘T’ of The FORMULA and transform the results of all your existing and new sales and marketing strategies… and do it for ZERO cost.
See you next time.
Growing Your Business Is NOT Rocket Science…..But It Is A Science!