Discovering the “Holy Grail” of Business Profitability
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LESSON TASKS
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- Identify products/service by your company (or others) that you can offer to your buyers that will help them get closer to their ultimate result
- Consider offering cross-sells during fulfillment, on receipts and during valued communication
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LESSON BRIEF
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“The best marketing doesn’t look like marketing.”
– Charles E Gaudet II
This strategy for cross selling your customers, clients and patients radically transforms the profitability of your business.
Let’s look at the numbers.
If you only have 1 thing to sell people – how many new customers do you need to break-even next year?
100%, right?
If you only have 1 thing to sell people, you need to replace all your customers before you can grow.
If you have a back-end and and you have multiple things to sell your buyers – either from your own product line (or others) – you can make a lot more money, increase the lifetime value of your client and you have a solid foundation to grow year-after-year.
This is why it’s critically important that you have a strong back-end strategy. The mistake many rookies make is that they focus so much on acquiring new customers in the front door – while they’re ignoring the huge potential that exists in the backend.
A strong back-end sales process is one of the biggest money-making secrets of 8 and 9-figure companies – and, if there was ever a holy grail that existed in company – it’s in this process…[/text_block][/op_liveeditor_element]
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Downloads
Cross-Selling Worksheet (via Google Spreadsheets)Before Using Go to File -> Make a Copy
Example Back-End Flow Chart (Retail)Flow chart your own sales process. Here’s an example to help you brainstorm.
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Example Back-End Flow Chart (Info-Preneur)
Flow chart your own sales process. Here’s an example to help you brainstorm.
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NEXT LESSON
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[op_liveeditor_element data-style=””][text_block style=”style_1.png” align=”left” font_color=”%23788596″]Discover how to use packages and bundling in your business to get your buyers to happily spend more money with you.[/text_block][/op_liveeditor_element]
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