The Profit Triad – The 3 Ways to Grow Any Business

Acquire Customers ~ Who Spend More ~ And Buy Again

1: Get More Customers

The first part of the Profit Triad is how do we get more customers. Often everyone thinks about “we’ve got to get more traffic’ ok, which yes that’s true, if you can double the amount of traffic, you may be able to double the amount of sales BUT it’s a very very expensive way of doing it.

What we want to be doing first is optimising the website, optimise the presence, the calls to action, the sales page. In every business, everyone thinks every page on my website is exactly the same but within every business there is around 3-4 or at least a few hero products, what we call “money pages” so not every page of your site should be created even. You have to figure out, what are the money pages within your website and how can you optimise those?

portrait of a group of people standing together

One of our clients focused on this as their first action with us. We wrote new sales copy, added videos, headlines, sub-headlines, calls to action and made the order process so much easier. They gave more payment options and took away the risk with a guarantee and it had a dramatic affect on the amount of customers they received.

Another point that you might not necessarily think of with getting more sales is adding an enquire process. This same client added an enquire now option on their website. What this is about is using those four magic words “How Can We Help?” When people put up their hand for this, they might be all ready to buy but they might have just have one objection that they need to overcome, something that could be stressing them, something they want to know. If you pick up the phone and engage with them you’re more likely to get them over the line. So our client added all these things to their sales process and saw a significant increase in customers.

2: Get Them Spending More

So we now need to look at, ok how do we get them spending more? With this same client, now that their training programs were 100% full, there was actually room to increase the pricing. There was more demand and supply was limited so we were able to increase the pricing by a couple of hundred dollars. This then added more profit into the business which was fantastic.

Another thing we were able to implement with this client was, once someone had purchased that training program, the client was able to then think, ‘ok what is logical and would add value that we could tac onto their experience?’ So when they checked out and before they got to the thank you page, they added what’s called a One Click Upsell. So they were able to then say, ‘Ok, you bought this first training, this second training could add on another qualification to your experience with us, would you like to add that to your purchase?’

money-hands

The result? 40% of customers who bought the first training also added on the second training which gave them another industry qualification. You can start to see now how they went from half-filled training programs to full training programs, to now having more money per order to now getting a second order on top. That’s the kind of thing they were doing to get the customer spending more.

The other thing related to getting their customers spending more was added merchandise and items that would help them while they are away attending the training programs, which just adds another income stream. So now this client has more customers and they’ve got them spending more.

3: Get Them Buying Again

So once you have more customers and you have them spending more, the next focus point is how do we get them coming back again? With this same client and their customer, it really came down to, once a customer has come and completed the in initial training course, what are some complimentary trainings that are of a more senior level that you can then offer them.

Following that, adding in auto-responders, remarketing sequences with banner ads and Facebook ads that take them on a journey and shares the story of other people who have done the more senior training course and also nurture them towards that. Then when that more senior course is coming up for registration, you can add in one or two powerful levers working together of “scarcity” and urgency” to get them coming back and buying again.

So imagine this is you and your business and you went from half-full sales to full capacity sales, each transaction is worth considerably more, and your customers are buying again – you can understand the dramatic difference this Profit Triad could have on your business. Plus you’ve created a system, an architecture to constantly feed new leads and new sales through. It’s exciting stuff right?

So I leave you with this question: What are you doing as far as the Profit Triad goes? Are there things you could be doing better to get more customer, get them spending more and get them coming back again? 

By the way, it’s a great time to be reading this post as right now we’ve go a quick 30 seconds survey to pinpoint the biggest opportunity available to you so you can focus your efforts on the ‘biggest-impact’ areas to rapidly grow your business. If this is something of interest to you, click here to take the quick survey!

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