Today I am going to destroy an age old argument.
Does size matter?
Not when it comes to sales. Actually to start with the opposite is actually true. The smaller the better.
Hang on a minute Beanie, you are off of your head you are thinking to yourself. The bigger the sale that comes through the door the better for me thank you very much.
Unfortunately that is a very short sighted way of looking at things.
Believe me I know how you feel, when you have bills to pay, all you really want is that one (big) quick sale. And up until recently I felt the exact same way that was before I stumbled across some statistics that blew me out of the water..
The trouble with that thinking though is when all you are focused on is the “big sale” you are more focused on your needs than your customers, so the odds of you turning them into a life long customer are minimal.
Don’t think for a minute that I am saying turn a big sale away. That would be f*cking ridiculous.
Just stop and think for a minute about the lifetime value of the person standing in front of you with money burning a hole in their pocket, before you pack them up and rush them out the door with their purchase.
How are you going to get them to come back again?
Big sales straight up are great, but they are not something that you can automate with any degree of consistency. In other words, you are forever manually chasing the next big sale.
So what were the statistics that changed my mind?
The statistics came via Marketing legend Mal Emery. Long story short, most business are missing out on 80% to 90% of the sales that they should be making because they are hung up on the fact that they need to make the next big sale.
I don’t have time to go into the finer details in this post, but generally 80% of sales occur when a person has between 5 to 12 contacts with a business. So by ignoring the Micro Sales, many business owners are pretty much killing their own vital cash – flow.
Let me give you an example of how this Micro – Commitment thing works.
Now my top of the line Consultancy Service is thousands of dollars per month, and if I tried solely to sell that to people on a first contact basis, I wouldn’t get very far.
So I have a system with a series of Micro – Commitments that they go through first.
- I give them something valuable in exchange for their email address.
- I offer them a very low cost item, like a video.
- I offer them some low cost live training.
- I offer them to come along to a live Meetup.
- I offer them to book an Audit with Me.
- I offer them some coaching via my Digital Biz Coach site
- I take them for lunch, and offer them to upgrade to a high end client.
Not all are going to go through this process, and that is fine. But a % will and I have a system to move them through. It’s they way that I ensure I am not losing out on the 80% to 90% of sales that I know I should be getting.
So this is how my system is set up…
The very first Micro commitment I try to get is an email address. I will run advertisement that sends people to a Free Report.
This is an ad that I have running at the moment…
Six reasons people don’t buy from you, even though your products and services are awesome.
Mind you they don’t necessarily have to give me their email address for the first Micro – Commitment to happen. Just the act of reading a blog post or watching a YouTube video I have created (that is why those habits are so crucial) is a Micro – Commitment.
The way I look at it, that person has invested some time into listening to what I have to say. Never underestimate the power of that. The fact that someone gives you some of their precious time to check out what you have to say is a privilege, one you don’t want to take for granted.
Then next offer will most likely be, a low cost training video.
It’s very non confrontational as they don’t need to speak to me, and yet I can deliver an enormous amount of value to them at a very low cost. This one is a perfect example, click on it to take a look. The store literally loads on this page.
[selz link=”http://selz.co/1jYlUzO” show_logos=”false” text_color=”#ffffff” background_color=”#171963″ type=”button” position=”default” interact=”modal”]
After they purchase that video…
It’s time to start removing more of their concerns regarding purchasing my services. I then offer them to attend a Live Training session. The risk for them is low, and again I can deliver exceptionally high value.
[selz link=”http://selz.co/1nECwPF” show_logos=”false” text_color=”#ffffff” background_color=”#1f1460″ type=”button” position=”default” interact=”modal”]
At the end of the training I make a simple offer, for the next Micro – Commitment…
Like some more help? Then book an audit with me.
On the Audit again I give them heaps of information that they can action immediately, regardless of whether they are ready to buy or not.
At the end of the Audit I will offer them this…
Join my Elite level online coaching on Digital Biz Coach.
Finally they may get to the stage where I say how about I buy you lunch, and we talk about how I can really maximise the returns you are getting.
As you can see, each Micro – Commitment leads to bigger and better things for both of us. And I am looking to keep them as lifelong customers. I can and do though shortcut the process to the big sales.
But it takes quite an amount of Reverse Engineering and thorough Research. I am quite happy to do this, as I only need a handful of these bigger sales each year.
So that is what I am going to show you in the next post.
How to go from zero to high end client, in a very short space of time. Circumventing the system if you like.
If you want to make sure that you don’t miss that post, just download the Free Report…
Six Reasons people don’t buy from you, even though your Products and Services are Awesome
And I will email that post out to you as soon as it is live.
Cheers Beanie the Social Tradie
Remember to have a beer before you FOQ
Awesome Ring Photo via this link
[…] Quite a lot actually because it all comes back to what is known as micro-committments […]