In basketball, is a behind-the-back, no-look pass effective? Of course! But is that where you’d start if you’re not even constantly dribbling and driving down the court?
In that case, you’re more likely to bounce that pass off your teammates forehead than land it in their hands… Similarly, businesses want to jump ahead and do next-level marketing before they have a practical and consistent foundation in place.
It’s not hard to understand why — the field of marketing is so cutting-edge these days that business owners get a constant stream of info about the latest thing. For example, “Do You Know About These 5 Upcoming Changes to Google SEO?”. This tends to cause a fair bit of confusion and anxiety, as well as misdirecting marketing efforts to always be chasing the latest thing.
Instead, in our view, businesses are much better off going back to basics. They need to start with a simple marketing foundation that addresses one or more of the 3 simple ways to grow your business — if you can manage to pull them off, your bottom line will grow.
1. Get more customers
Build marketing systems to drive more traffic, encourage engagement, and capture visitor information such as email addresses. Create extra engagement with your audience by offering something of value in return for them scheduling a call, booking an appointment, or purchasing your trial. And ultimately a systematic way to get them to buy your core offer.
2. Charge more
The higher the customer’s perceived value of your product, the more you can charge for it. One way to increase value is to improve your product or service, but another even cheaper way is to ensure that you’re properly articulating your product’s current value. Think about it — can you explain why your product or service fits the customer’s problem so well that it’s worth more than what your competitors are selling?
A big part of this is also understanding how price-sensitive your audience really is by testing with new and past clients. Business school courses are full of examples of businesses who increased their prices, only to gain even more customers due to an altered perception of their products’ value.
3. Sell more to every customer
You’re already converting a certain percent of customers. What if you could sell a little bit more to each one of these customers at the point of conversion or over a lifetime? A part of this is just having more to sell. For example, bundling different product or service packages together not only enables you to sell more things at a time — it also differentiates you from your competitors because you sell more comprehensive solutions to address the customer’s problem.
Pointing out related items, upselling larger product quantities, and subscription models that automatically send new products to customers are all ways to get a little bit more out of each customer transaction.