I was recently talking with a friend of mine on Facebook, and helping her figure out how to double her sales in 2013, and I thought I’d share the advice I gave her… (Jut in case YOU want to double yours sales this year too!)
Here is what I told her:
To double your business in 2013, we need to focus on 3 main things (at the same time we are putting the systems and procedures in place to handle the growth.)
There are only 3 ways to grow a business:
1. Increase the number of leads (or traffic) you are getting.
2. Increase the conversion/response rate you have with those leads/visitors.
3. Increase the amount of money each buyer spends in each transaction, or increase their frequency of purchase.
That’s it… There are really NO other ways to grow your business. All activities you do should focus on those 3 areas.
While I don’t really sell to or teach in the “Internet Marketing” community any more (I spend 90% of my DOING this stuff, and only 10% “teaching” it), I have a small, hand-picked group of clients that I still do personal 1-on-1 coaching with, and my main focus with them is in these 3 areas.
This is how I can offer new members to my Platinum coaching program what I think is the strongest (and gutsiest) guarantee I’ve ever seen anybody offer.
I guarantee them that I will double their sales in their first 12 months working with me, or I’ll work with them for 12 more month free!
And because each of my Platinum’s gets a LOT of my time (minimum of 2 hour+ personal calls each month, unlimited email access AND 3 full day one-on-one visits to their location each year, plus a lot more), that extra free year would cost me a TON of my time and money to pay out!
But my secret is, this has NEVER been a problem for me to hit because my goal when working with them is to shoot for doubling them in all 3 areas at the same time.
So we focus on:
Doubling traffic and leads
Doubling conversion rates
Doubling lifetime customer value
A “win” in even one of these areas, gets me off the hook for the guarantee, and in most case we hit or exceed the target in all 3 areas!
(My most successful Platinum to date came to me earning $30,000 per month. At the end of 12 months I had him up to $3,000,000+ per month!)
Most people trying to grow their business only focus on 1 of the 3 areas. (Usually if they are “online” it’s just getting more traffic.)
But if you focus on all 3 areas this year, the effect compounds.
A 100% boost in all 3 areas is not a 300% increase, it’s a 800% boost!
If you are currently making $20,000 per month with the following numbers:
1% Conversion Rate (20k visitors x 1% CR = 200 sales)
$100 average sale (200 sales x $100 each = $20,000)
If you double each:
2% conversion rate (40k visitors x 2% CR = 800 sales)
$200 average sale (800 sales x $200 = $160,000 per month!)
So because of this compounding effect, if you want to double in 2013, all you need is a 25% to 30% boost in each of these 3 areas.
That breaks down to just a 2.5% improvement each month (30% / 12 months).
So if you want to double sales, simply work each month to:
Boost traffic by 2.5%
Boost conversion by 2.5%
Boost average sale/repeat sales by 2.5%
Crazy easy goal to hit when you break it down like that!
Of course if you want specific recommendations in all 3 areas to hit those targets, as you move forward let me know!
You rock! Kick butt (2.5% at a time) in 2013!