How To 10X Your Results
As a business owner, you need to have goals and develop plans and strategies on how to attain them. Not achieving your desired goals and results cost to their business even if the business is making profits. One key aspect to take into account the “Cost of Inaction” of a business.
This (Cost Of Inaction) iis a hidden cost a company incurs because it did not achieve its desired results. Let’s assume your monthly income goal is £20,000 but you actually made £13,000. That leaves you with a £7,000 deficit. This is actually a hidden cost, even though you might be making some profits. This translates to a whopping £84,000 in 12 months
Business owners are often too focused on the day-to-day activities of their business (providing the services they offer) but fail to focus on the single most important aspect when it comes to growing a business ( Client Acquisition)
Advertising when done effectively, that is advertising on the right platforms, to the right people at the right time and price, using the right strategy will multiply your business’ ROI. This, of course, will be possible if the products/services fulfillment is of great quality.
Businesses willing to take their business to the next level should and must all be advertising on Facebook. Why? Facebook is hands down the best advertising platform because of the possibility to target just the right client amongst others.
Just running ads is not enough to get your clients to your doorsteps, but using a smart strategy that provides great value in the front end and attracts attention. This is often in the form of a “crazy discount” to a particular service or even offering a particular paid service for FREE. (A dentist may offer a free teeth whitening and consultation, a chiropractor – a free or low-cost adjustment, a plastic surgeon might offer a specific service for free or at a great discount.)
The idea is to get people to the door and then later upsell them with regular or more expensive offers to cover the loss in the front-end offer. Note that, the initial offer should usually range from up to a max of £30 depending on the service. Offers that are more expensive could be discounted to cost £30 or less. This strategy also builds rapport between the prospect and the business owner. People love free and discounts, so why not take that to your advantage.
There is a popular business quote which says ” whoever spends the most amount of money to acquire a customer wins” and this is exactly what the smart strategy is all about. Whoever offers great value for free at a great discount in the front-end of this strategic funnel, will definitely get to keep a client paying the business for a long time.
To conclude, local businesses who really desire to succeed should focus or higher the services of advertising experts, and be ready to lose some money in the front end and rip the benefits of these losses in the backend with upsells.