This is where it all starts to happen. Once you get people through the door you must make the most out of every opportunity.
You must turn those prospects into sales.
Conversion rates are often given little thought by the average business owner, and invariably when I ask someone out of the blue, they take a guess. That’s not good enough – you have to start measuring it NOW.
Regularly business owners massively overestimate the percentages… I remember one who guessed they sold to “80, 85 per cent of people” who called or came into their business. After some serious testing and measuring we discovered it was nearer 35 per cent. It was huge shock to the owner, but it also represents a tremendous opportunity.
Think of the bottom line difference you can make by significantly boosting your conversion rate. If you can take your conversion rate from 30 percent to 60 percent, BAM, you’ve just doubled turnover.
It’s possible, and here are the ways to make it happen:
This is where you write a guarantee addressing the customer’s key frustrations in buying from you.
Pick out the one thing that people are scared of when buying from you, and guarantee that it won’t be a problem. Let’s take some examples: a hairdresser that guarantees “you will like your haircut and so will 98 percent of your friends”, or, a dentist who guarantees you “no pain?”
If it is, offer to refund their money, or put things right. Once you’ve finalized it, make sure you tell people, and advertise it.
Here are some useful hints and tips on using a written guarantee to achieve more profits:
- Find out what your customers want above all else, and then promise to deliver just that.
- The best way to find this out is by listening to your customers…they’ll tell you.
- Include this promise in all your literature and advertising – make it a real selling point.
- If you don’t deliver on the promise, make sure your team are empowered to correct it or offer a refund.
- Don’t ever promise more than you can deliver.
Brad Sugars founded the brand Action International in 1993 when he realized there was a disconnect between business advice and implementation. The answer was Action! Brad Sugars created a business coaching company so that business owners throughout the world can realize their goals in business. Today the company is known as ActionCOACH. To learn more about business, visit Brad Sugars Review blog!