If you remember in our free report “5 Things That Will Instantly Increase The Value and Revenue of Your Business!” we talked about how important building a list was for your business. Building a list is by far the easiest and most cost efficient way to adding massive value and additional revenue to your business.
Buyers and investors in business place great value on “the list” of a business simply because it is an easy, instant and powerful way of generating profit. Not only that but it is also an indication of the strength of the relationship that the business has with its customers (the BRAND).
The list can be completely automated and yield a measurable result (i.e. sales!)
It is fast and easy to achieve this, yet many business owners do not bother because they don’t realize how important it is to value and profit. Understand that building your LIST is the best way to create a cash-cow business that is easy to grow, and you will make more profit in less time.
You can build a list in your business in 5 simple steps…
Step 1: Build a List
You can do this easily by offering something of value in exchange for your leads or customers contact information. For example, giving away a free ebook, coupon or discount in exchange for their name and email. You can use services like Aweber.com to help you build, automate and manage your list easily.
Now once they are on your list the next thing you need to do is…
Step 2: Start and build a relationship with your list.
People buy from people that they know, like and trust, your job is to help your list of leads and customers to feel comfortable with you and build their trust in you and your business. You can start by introducing yourself and your business, let them know that you are there for them and are focused on delivering a great customer experience.
People love being asked for their feedback and comments – it shows that you care what they have to offer you and that you are interested in giving them the most suitable service or product. Plus you get to find out exactly what they want – so you can give it to them! You can create an online survey for free at http://www.surveymonkey.com, ask your customers what they like about the business and what they would like to see improved. You can also do this over the phone or in person.
The best way to build trust and a relationship with a customer or potential customer is to give them something valuable and follow through on your promises, Remember the key to building a strong relationship with your list is to give before you get.
After a relationship has been established it’s time to…
Step 3: Ask for the Sale!
Once you have built the relationship, you need to ask for the sale, you wouldn’t believe how many people will buy from you just by asking. Ideally, you want to be in a business where people can buy from you again and again – either the same product or service over and over, or be offered different complimentary products or services.
This is where you make all your money!
Send them special offers, discounts, early bird access to new products and upsells to additional products or services just to name a few and warm sell them on the product or service then ask for the sale. You can do this via email auto responders, a website, a sales letter, follow-up phone calls, or with a systemized set of questions at the time of purchase.
For example we were able to increase sales in one of our websites by triple just by asking the people on our list to buy more stuff. The key is to not bombard your list with sales promotions but to offer them things that they would like and would help them and enjoy.
Step 4: Ask for Referrals
The fastest and cheapest way to get new customers is to ask your existing ones for referrals. If you don’t get repeat sales in your business, you need to think of other products or services you can add, or you need to work on generating great referrals.
By building a good relationship with your customers, they will be much happier to recommend you to others. You can offer a bonus for referring a friend or associate, or you can simply ask if they know of 2 (always ask for a specific number) other people who would benefit from knowing about your business.
Referrals are great because typically they are free and didn’t cost anything in marketing or advertising to acquire and they are warm. By being referred to your business from a trusted friend or family member of theirs they are already warmed up to you and your business and already have a positive impression of you. There is no better position in terms of leads than a referred lead.
Step 5: Repeat
That’s all there is to it!
The last thing to do is to repeat the process. Keep adding more leads to your list, continue building and nurturing the relationship and keep asking for the sale and referrals. By doing this your list will grow exponentially and with it so will your profits.
These 5 steps will be the most valuable investment you will ever put into your business so get out there and take action.