Business Growth Advice
There are only three ways of growing a business
What do I mean? There are three and only three ways of growing any business no matter what the industry and most people focus far too much on way 1.
Way 1 – Win new customers
This is the hardest most difficult and expensive thing to do. So my question to you is. How much of your marketing time, money and effort currently goes into No1?
I bet it is most of your time, money and effort.
Way No 2 – Increase the average transaction value
What do I mean? The average amount of money people spend when they buy from you? What is yours? Has it increased, or decreased over the past twelve months?
What marketing strategies do you employ to increase your average unit of sale?
Way No 3 – Increase the frequency of re-purchase
How often do people buy from you? Are your customers/clients aware of your full range of services, or do they see you as the people who sell ABC, but never realised that you also sell XYZ.
So again my question for you is – What do you currently do to increase the average frequency of re-purchase?
Something to think about
You need to make sure you are MAXimising all three approaches to your marketing and I would suggest that you need to employ a minimum of five different strategies under each section of the above.
Here is how we can help