You worked so hard... Ran the ad, answered the phone, booked the appointment, sent a reminder, processed their paperwork, provided your service or product, and then never saw that client/patient again?
Why is that?
Aside from rent or payroll, the most expensive thing in a business is the acquiring of a new client. It costs you
real money to get a new client in the door. And before you say "
But I get all my business from referrals", there is a cost to referrals as well, albeit less than other marketing campaigns.
Back to my question, why is that? Why do so many entrepreneurs have the one-and-done mentality? Blissfully ignorant to the profits left on the table by not wholly and thoroughly monetizing the new client.
If you don't do it, shame on you. Yes, I am calling you out.
If you say your employees do it for you, but you don't inspect that they are doing each and every time, you are criminally negligent in your duties as a business owner.
Ya think I am kidding? Read on Brainy Smurf, and see how much money you are leaving on the table, and how just a couple of changes in your (or your employees) scripts can make all the difference.
Take my carpet cleaning business for example: Here are all the points I expect my team to cover before they leave a job:
- With calendar open, attempt to schedule the next cleaning in 9-12 months.
- Explain & leave behind our referral package.
- Offer to enroll them in one of our memberships
- Offer to have our Lead Healthy Home Inspector (aka my sales guy) come out for a free inspection, demonstration and attempt to sell air purification, mold remediation or furnace filters.
- Complete a 5-around. Placing door hangers on the 5 neighboring houses.
This is all in addition to my follow-up system and client retention system. You do have those, right?
Let's do some simple math: Let's say that these tactics add 5% to my total revenue for the year. With my job average of $450.
- 5% of $450 = $22.50 x 12 jobs a day x 250 days a year = $67,500
- Bank that additional income, less taxes but plus interest, over 10 years you would have $1 million in your sweaty little hands.
Can you ignore a million bucks?
But Vance.... I don't own a carpet cleaning business, this does not apply to me.
Au contraire.... Every one of those tactics can be converted and optimized in any business or niche.
What other ways do you / can you wholly and entirely squeeze as much money from you client on each and every visit?
Disney is a master at this....
More on that tomorrow