UWR 041 Create your profit leap

In today’s episode, I’m speaking about creating your profit leap. 

Let’s dive in.

We are heading towards the end of 2019 which means it’s time to start thinking about different ways you can increase your profit leap before the end of the year and have a higher baseline heading into 2020. The first way to create your profit leap is to remember that people are already buying from you and are the very same people who are most likely to continue buying from you and buy more if you are delivering a great service. Making a list of every active customer and thinking strategically about their situation, how you are serving them now, how you are working together and what they are spending, then asking yourself, what is the next level that I can offer these people that would increase their spend with me, but also would help them achieve their next level goals and generate even bigger and better results for them?

It’s maybe adding in accountability or increasing the work that you’re doing together. Perhaps adding in an extra component that gives them more robust result or adds an extra layer of support. This and any other add ons that you can think of is what you could package together into a next level. Get that list and go person by person and think really strategically. Then go one by one and schedule a phone conversation with each person. Commit to having a couple of calls every day for the rest of the year and then you’ll be able to get through everyone. And you can speak through what they’ve achieved now, what might still be possible, and then what their next steps could and perhaps should be to get them to where they want to be.

You have to also think of the fact that people will get bored when they stay in programmes for a long period of time and that causes them to leave. When they are presented with something new and exciting and intriguing, then they get more excited again, they get reenergized. Giving your current clients something to get excited about again can be a really interesting thing to do. If you do just this one thing, then that in itself can help create a massive profit leap in your business. If you have five or even 500 clients, there is money being left on the table if you do not employ this strategy.

The second most underutilised strategy is following back up with your previous clients. Making reactivations. Clients lapse for dozens of reasons, but studies show that the vast majority of lapses are not for negative reasons, it’s because of the client’s own stuff that’s going on, whether it be a life situation, a major distraction. These people have already experienced how great you are and it can be good to go back to them and let them know that you would love to support them again. And people make buying decisions based on that. You are following up and working to get their business. Why would they not want to work with somebody actively following up rather than the alternatives on the table? Which are those people who are not showing massive interest in them.

People want to work with people who want to work with them. Does each of your past customers know that you want to work with them again? Are you or your team in front of your past customers every other week in a proper way? Why are you killing yourself online to get in front of new leads when you’re not working the ones you already have when working your previous customer base? Sometimes it gets to where someone needs to experience something outside of what you have to offer to really appreciate what they’re missing when they left you. Don’t forget this group of X clients.

And the third thing I want to speak about today is putting together a new, different and exciting offer that is time sensitive and your audience can grasp onto right away and feels like the next big thing for them. We all want to get our clients awesome results, but the thing is that people buy sizzle. You need a combination of the meat and this is when you are selling your next thing. Maybe you teach what you are teaching and present it in a new and different way. Perhaps it takes a work you’ve already done and presents it differently or creates an experience out of it for them. Maybe it’s an intensive or something like that.

I hope that this episode is giving you some things to think about when creating your profit leap before the new year and has given you some ideas to put into place before 2020 hits.  Thank you so much for listening. Until next time, let’s find the clarity in your numbers, increase your wealth and get more money in your pocket.


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About the Author

Annette Ferguson 

Owner of Annette & Co. - Chartered Accountants & Certified Profit First Professionals. Helping online service-based entrepreneurs find clarity in their numbers, increase wealth and have more money in their pockets.