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Cashflow freedom – The 7 causes of poor cashflow

Mark Greer. BUSINESS PLANNING

Cash is the life blood of any business. In fact, even profitable businesses can and do fail because of poor cashflow. What’s important is that you understand your key cashflow drivers. Improving cashflow is often all about changing your business processes. Processes such as how you order stock and pay for it, how you bill […]

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The Cheapest Way to get More Business

Posted 9 months ago in MARKETING

If you’re looking for new work, follow this very simple model; not only will you get more clients for way less marketing spend; you’ll be improving service to existing customers too.

 

Many business owners spend way too much money trying to generate new leads by trying to connect with suspects.  If you want to market to suspects then define your target very clearly, find out where they hang out in the greatest numbers and hang out there too. Networking like this is much cheaper and way more effective as you get to build relationships.

 

Once you’ve generated new leads make sure you follow them up quickly before they go cold.  Return emails and phone calls quickly, turn up when you say you will.  You need to build trust in these early stages.

 

When dealing with prospects make sure you have a clear sales process.  Find out what problems they have that your product or service will solve for them.  Give options – a ‘choice of yeses.’  Use a system or checklist to identify up-selling opportunities to increase the sale value.

 

Once you’ve made that first sale then make sure you deliver what you’ve promised (or more – UPOD = Under Promise and Over Deliver).  Then they’ll either come back again (and become a client) or will at least start talking about what you’ve done.

 

And here you have the cheapest way to get more business; getting more referrals.  Simply by giving great service your customers and clients will become your fans or advocates.  They’ll talk to others (especially if you encourage and reward them for doing so) and before you know it you’ll have plenty of new business.

 

What can you do to generate more referrals?

 

“The purpose of a business is to create a customer who creates customers” – S Singh

 

 

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