If you’re a home business owner or a small business looking to break through into the new economy that exists online, one thing is certain- growing your list is your biggest daily task. Sadly, many of the gurus out there are not teaching you step by step methods on how to do this.
When I expanded my business from a freelance service provider to a training company teaching online classes, doing mentoring and coaching I was faced with the enormous task of building my list. I quickly discovered that some of the methods people were teaching didn’t work. Or they worked so slowly that it would take me at least 10 years to get to my goal.
Who on earth has 10 years to grow a business? Certainly not me! Certainly not you.
Jay Abraham, the Marketing guru to the gurus who charges $ 25,000 for a consultation teaches the facts when it comes to company growth. These are the strategies that all online companies are using. Increase your list of customers, increase the number of purchases they make or increase the average amount they spend on each purchase.
Let’s review these one at a time:
1. Increase your list of customers.
This is called list building. Your house list affects your bottom line directly. Unless you want to charge enormous overpriced fees (which we’ve all seen!) the bigger your list, the bigger your company growth.
As you build your list the focus is not ‘opt ins’. Anyone can create a ton of opt ins. You are seeking customers who are ideal, want what you offer and will enjoy a long term business with you. These are customers who have preferably demonstrated previous purchasing for such products from your competitors. A house list of even 5000 ideal clients will change your business results enormously.
2. Increase the number of purchases your customers make.
To some people this is a ‘duh’ statement. Who wouldn’t want to increase the amount of purchases your current customers make. But being able to market to these people in such a way that you don’t violate email marketing laws. You want to serve them so that that they enjoy each and every purchase. Ultimately they will become your top advocates. I’ll call this “company evangelists”. These are the people who can spread the word about your company faster than even the best direct mail campaign.
As you seek to build your list don’t ever underestimate the power of increasing the number of purchases your current customers make. The more happy and satisfied you can make your current customers- the more likely you’ll gain referrals. What a beautiful way to create expansion! It’s ethical, honest and marries good will and good fortune together.
3. Increase the average amount that each customer spends with your company.
The raising of prices and rates is an important part of building a company. However there is always a bad side to this equation. When I see people charging 6-figures for coaching who have never even made $ 100 million dollars themselves that is NOT what I am implying in the raising of your fees. This is called price jacking and is dishonest.
Properly price raising however comes when your reputation increases, your results soar and you are more valuable to your clients. Underpricing can hurt your business and ruin your companies future as well. If you underprice your services or products people won’t take you seriously.
A great way to know what you should charge is to ask someone who has been an expert of creating pricing structure. Get feedback from those who are much farther down the road than you. My greatest feedback has come from MaryEllen Tribby and the staff at EarlyToRise.com. They are trust worthy, have built an enormous track record for long term results. Agora, their parent company and an enormous publishing company with a history of more than $ 400 million in sales is another great resource I trust. Let me say this nicely- if Agora has not charged $ 150,000 per year for coaching why would anyone think it’s ethical to charge that who has never even created a $ 20 million dollar company yet.
These are the core principles of growing any company. Your focus should ideally be on all three throughout the year. To increase your list, continue marketing. To gain repeat purchases, serve with excellence. To be worthy of raising your prices, increase your results and your skill.
Trying to sell your products and services one on one?
The most difficult way to build a business is by doing it one on one. Face it- you’ll wear out before you get to 5000 customers. One on one marketing also depends on your personality and skill set to increase your bottom line. What if you don’t want to talk to people by phone? What if YOU are not available everyday?
Are you tired of working so hard but never quite reaching the 5-figure per month goal you’ve been dreaming of?
Growing a bigger list is the answer. Your list becomes the place where you communicate with your customers regularly. This is where you build rapport, create a culture and build longevity into your company. It is NOT the place where you just sell, promote, sell and promote. That makes most people disgusted.
Your list is where a relationship is created, maintained and encouraged to grow. Let me be very honest with you. This is the aspect of building a huge company online I enjoy the most! It wakes me up in the morning with a skip in my step and causes me to want to make myself and our company better for our customers!
But what about conversion, referrals and your ROI?
Have you ever been totally overwhelmed by the task of conversion? People stop by your website but no one is opting in?
I know just how you feel.
Before I grew my business to where we are now with 40,000 current customers on our house list I was struggling the exact same way. Oh sure, we were making great money. But that’s because I have a specialized skill and can charge high fees for my services. When it came to building a big list that we could market to to everyday- that was another story.
Having built a business in the home based market before generating a large lead list was not a problem. But when it came to selling to them regularly the people who filled out the ‘request for more information on a home based business’ got mad at me when I tried to market to them regularly. Rightly so!
I’ve built a huge profit by picking up the phone and calling a ton of online leads. It’s a great way to go… but who wants to do that for 3, 5, or 10 years down the road? NOT me! And I bet not you, either.
If you have tried numerous courses or listened to one too many trainers as they tell you about their huge house list but never quite get to the nitty gritty of how to build one yourself- I’m ready to help.
On August 9 and August 16 I’ll be hosting a tele-conference that will take you step by step through the process of list building. Ideal client list building, not just a bunch of random opt ins.
Then you’ll need to learn how to write to them, keep the relationship strong and hire the best people for your quickly expanding company!
Let’s do this together. It’s my privilege to help you every step of the way. You are the reason I show up at work everyday.:) I’d love to see you at my upcoming List Building Tele-Class. The price is ridiculous so the only thing you have to ask yourself is this, “Am I ready to build a big list now for my company or will I build it the long hard way and wait another 10 years?” Click here if you are ready to go NOW!