It doesn’t matter how good your offer or your sales process is, there’s going to be lots of people who simply won’t buy from you, at least not immediately or within the first 30 days.
In this post about only attracting your ideal customers while repelling everyone else, we looked at how a women’s-only gym could laser target their marketing if they clearly identified the people who are most likely to join the gym.
Let’s revisit the gym again and look at how they could immediately increase sales to people who don’t sign up at the end of the free 30-day trial.
Watch this 60 second overview video before you continue:
The problem is while they would like everyone to become a Premium Member, most people just aren’t ready for the type of time and monetary commitment the Program requires.
So what can they do?
The solution is to create a series of down-sells, ranging from 6-month and 3-month Premium Memberships, to mid-level Memberships, to lower priced Class Packages, to multi and single day Memberships with no ongoing commitment.
Now the gym might already have a range of price and Package levels like this, but the key is to have a specific process of selling those packages, from highest value to lowest value, to EVERY person who comes in for the free trial.
The main reason the gym wants to make a sale, ANY sale, is because it makes the process of selling the same customer more products and services in the future much easier.
Something to remember is your goal should not be to get a customer to make a sale, it should be to make a sale to get a customer. A customer who can buy from you over and over again forever…
And it’s the same for you. The first sale you make to any customer is the most expensive one you’ll ever have make.
People are far more likely to buy again from you if they have a good experience the first time. So subsequent sales are both easier and more profitable, because your marketing costs are much lower than they were the first time.
As for your business, do you have (or could you create) cut-down versions of your products and services to offer people who don’t want or need, or who can’t afford your core offers?
Or could you use what you learned in the lesson on how to leverage your under-utilised assets and overlooked opportunities, to have other people supply your down-sell products and services for you?
Your options here really are endless, and I’d really like to see what you come up with and how you implement this idea into your business.
ACTION STEP: Create or source a number of products and services you can use as down-sells for when customers don’t want or need to buy your core offer. Develop a sales process that allows you to offer up-sells, cross-sells and down-sells on every order.
INVITATION: Each month I hold a limited number of Free Business Strategy Sessions designed to help you grow your business while enjoying the ride, while creating a plan to achieve the highest possible sale price, and the lifestyle you want to enjoy, when it’s time to exit..
Would you like to join us?
If you’d like to schedule one of these Free and obligation free one-on-one sessions, let us know by email at email@example.com or call 1300740066 and we’ll set things up for you.
About The Author: James Huy Vuong is a CPA, Registered Tax Agent, Business Broker, Certified Exit Planner and the owner of Your Accounting Partners, an Associate of Negotia Group. Partnering with businesses from start to scale thru to sale.
Your Accounting Partners