The message behind this cartoon is that there are NO shortcuts when it comes to developing a list of qualified prospects for your business.
There are no automated tools to harvest LEGITIMATE prospects from the social media fields – no randomly picking names from the phone book – no cold-calling names from the local Chamber directory.
It still takes work, blood, sweat, and tears to build a community of serious, qualified prospects. Don’t let ANYONE tell you otherwise…
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Wikipedia defines up-selling as a sales technique whereby a salesperson attempts to have the customer purchase more expensive items, upgrades, or other add-ons in an attempt to make a more profitable sale.
So, the key here is this:
It is important to offer your customer’s additional goods and services that actually further help the customer be successful – or solve their problems.
If you attempt to push the envelope and up-sell items they don’t really need – OR – sell them items that should be part of the original solution – you will ultimately lose that customer.
Don’t be like Biff…
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One of the strategies to growing your business is to increase your margins. Makes perfect sense. But in this economic environment, we are inclined to believe we need to lower prices to remain competitive. It is a natural instinct to feel that when times are tight, people are going to shop for bargains more than ever before.
But don’t make the same mistake as Biff in the cartoon above. The goal of being in business IS TO MAKE A PROFIT. Why bother running a business otherwise? You do have to pay a mortgage and phone bills… Now I am not advocating that you go out and jack up your prices for no reason. That is a mistake. But whacking prices to the bone is just as risky a business decision.
You must understand – the secret to increasing margins is to increase value. There is a reason heart surgeons command a high salary. They are skilled in ways most of us are not. You need to position yourself in your market – the same way.
What happens when a potential customer looks at several buying options and cannot tell a difference between them? The only way left to make a decision is by comparing prices – and you don’t want to get in that trap. Designing a marketing message that conveys true and real value will make people want to buy – regardless of price. If they feel they can’t be without your product or service – they won’t be.
Todd Schnick. Be Intrepid. www.intrepid-llc.com
Find Biff’s cartoon series blog at www.growthgaffe.com
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