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How Many Ways To Grow Your Business?
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markvurnum
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Location: Essex, UK
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PostPosted: Mon Mar 22, 2004 5:07 pm    Post subject: How Many Ways To Grow Your Business? Reply with quote

How many ways are there do you think to grow YOUR business??


1, 5, 10, 50, 100, 500?

Well let me tell you the trick answer…

There are ONLY three ways to grow your business, yes just three.
I guess you want to know what they are now?

Well before I tell you let me give you a massive advantage over your competitions, right here and now. They have only discovered ONE of them!

So straight away if you start to use the other two ways to grow your business..Guess What… You are actually TWO steps ahead of your competition!

So the three ways to grow your business are:

1 – Sell to more clients (something everyone is trying to do!)

2 – Sell MORE often to clients

3 – Sell HIGHER Value to clients

So there you have it!
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BernardErtl
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PostPosted: Mon Mar 22, 2004 9:00 pm    Post subject: Reply with quote

Hi Mark, welcome to the forums! Wave

Aaron requests all new members to sign in here.
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Cartika
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PostPosted: Tue Mar 23, 2004 1:34 am    Post subject: Reply with quote

Hi Mark,

If possible, I would like to add a 4th way to grow your business

4) acquisition
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AudreyO
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PostPosted: Thu Mar 25, 2004 4:42 pm    Post subject: Reply with quote

Quote:
So the three ways to grow your business are:

1 – Sell to more clients (something everyone is trying to do!)

2 – Sell MORE often to clients

3 – Sell HIGHER Value to clients


In his book The End of Marketing As We Know It, Sergio Zyman devotes his entire book to selling more products to more people at a higher price. He was the chief marketing guy at Coca Cola for quite some time. His marketing strategy was always what he could do to sell more products to more people at a higher price.

As you've stated, most folks invest time and money into attracting new customers. But many small business owners do not invest time into selling more products to the customers they already have.
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GuyFromChicago
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PostPosted: Sat Mar 27, 2004 7:12 pm    Post subject: Reply with quote

Quote:

As you've stated, most folks invest time and money into attracting new customers. But many small business owners do not invest time into selling more products to the customers they already have.


The most expensive thing a business can do is get a new customer. In a lot of instances, aquiring a new customer is actually done at a loss. The hope/goal is that the LTV (life time value) of that customer will offset the initial expense of aquiring that customer.

My small 3 person business averages about 1 new customer a month. If you take into account the advertising, etc that I do I lose $, up front, on every customer that I aquire. The nice part is, the 75 other customers I have are loyal, and have an LTV that's through the roof.
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jfslenes
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PostPosted: Mon Mar 29, 2004 6:02 am    Post subject: Fast Food Purveyors Are Experts At #3 Reply with quote

According to Pilzer (The Wellness Revolution", fast and snack food companies are experts at increasing sales via "biggie" sizing it. Costs too much to gain a new customer but costs zip to increase your purchases by biggie sizing them. Profits thereon are greater, etc.

According to many recent news articles, the real looser is you. Your weight, your health, and your pocketbook.

Allen in his multiple streams of income theory books also encourages selling more / new products to exisiting customers. Certainly seems to make good sense.

The idea of selling more of the same item to the same or existing client list also makes sense. We encourage our staff to sell extra nights to all reservation calls and all checking in Guests. The easiest way to double our business, is to sell an extra night to every Guest. We also suggest that the better we are at guiding and directing folks on what to do, where to go, what to see, etc., the better our chances are of making that Guest stay an extra night or two, i.e. make the extra sale.
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digital print
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PostPosted: Mon Mar 29, 2004 1:58 pm    Post subject: Reply with quote

Sell more to more people for more profit?
Why didn't I think of that?
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jrpublicity
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PostPosted: Mon Apr 26, 2004 6:50 pm    Post subject: waiting tables Reply with quote

I think there is some validity to your statements. I guess it reminds me that I did learn something important when I waitressed.

Jenna
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Rich123
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PostPosted: Sun Sep 23, 2007 1:52 am    Post subject: Reply with quote

I say promotion is the key .
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kevin7911
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PostPosted: Sun Sep 23, 2007 4:28 pm    Post subject: Reply with quote

Internet marketing is good!
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Elle1971
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PostPosted: Sun Sep 23, 2007 11:26 pm    Post subject: Reply with quote

The hardest part is to gain a new client. Once you have that client... they know how good you are - so it should be easy to upsell and to resell... from there they give you referrals.

Job done!

Elle xx

PS: Anyone know any new Clients? (joking!)
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truwealthnow1
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PostPosted: Thu Sep 27, 2007 11:31 pm    Post subject: how to attract new clients Reply with quote

Something wonderful that has been happening for me lately is that clients have been coming my way while I am busy looking for new clients elsewhere....WOW! I love it.

Has anyone else found this?
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Elle1971
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PostPosted: Thu Sep 27, 2007 11:45 pm    Post subject: Reply with quote

Hi Katrina!

Yes that is always great! I usuallly can track those people back to a referral... or a "chat over drinks" etc.

How do you track where these new clients have come from? I'd love to know.

Elle xx
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Apples
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PostPosted: Tue Oct 02, 2007 5:20 pm    Post subject: Reply with quote

I don't think relationship marketing has been mentioned here (AKA CRM). the best way to make a company successful is to retain customers that have a high expenditure and frequency of buying rate. This can be done by persuing a relationship with the customer, through email marketing that is actaully relevant to each and every customer, special offers to already existing customers, and loyalty schemes like clubcards. Perfect formula! You also have switching costs on your side where it becomes too much of a hassel to engage in a relationship with someone else. Build trust, and commercial friendship, and loyalty (or inertai!!) will follow.
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figurewizard
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PostPosted: Thu Nov 01, 2007 2:09 pm    Post subject: Reply with quote

Surely the art of selling more products to existing clients rests on the range of products that are on offer. Promotion is also at its most effective when new products are its focus.

Sourcing new products is the key to making things happen when looking to expand sales.

Joe
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