Business Optimization : Why Should You Care
I became interested in learning business optimization almost by accident.
In 2004, I spent 26 weeks in a mentorship program, working with one of the world’s top marketing consultants, a man who has generated over 7 BILLION dollars in new profits for his clients.
One of the first things he sent us students was a business self-assessment questionnaire. It contained (I kid you not!) TWO HUNDRED AND SIXTY EIGHT questions!
For over 18 HOURS, I answered it.
Many questions forced me to think long, hard and deep about my business.
- How strategic is my marketing?
- What are my 5, 10 and 20 year goals?
- Do I have predictable results?
- Is my business future-proof? Or can it collapse at any time?
- Am I getting the highest value from my resources?
All tough questions, needing careful thought.
That’s what took eighteen hours.
But it was well worth the effort.
My growth since then is a reflection of my investment in time and effort – as it revealed areas I could improve, enhance and optimize.
This also made me appreciate the self-evaluation process.
So today, I’m going to give YOU the benefit of this exercise, and show you…
How To Optimize Your Business
At the end of my mentoring program, I looked back over what I had learned, and distilled down the most effective sales conversion and profit multiplying tactics that I had tested and verified.
There were 7 broad principles that determine sustainable growth.
Optimize these 7 things, and your business WILL grow. Guaranteed!
I shared these in a short PDF report with my list – and it was downloaded over 20,000 times. For weeks, I was overwhelmed by feedback and ‘thank you’ notes from happy online business owners and infopreneurs who eagerly put the concepts to use.
That’s not surprising.
Just one of the techniques boosted my profit from ebook sales by 67% – and it still works to this day, many years later.
That’s because these are timeless concepts that are rooted in human psychology. They help you over-deliver in value… not play short-sighted mind control tricks that fool a prospective customer into pulling out a credit card, only to regret it at leisure!
In this series of special reports, I’ll give you brief insights, ideas and actionable tips to weave these 7 FORCE-MULTIPLIERS into your business.
What’s a “force multiplier”?
Something which takes the energy, momentum, or revenue-generating potential that already exists in your business – and MULTIPLIES it.
Force Multiplier #1 – Bonuses and Incentives
Everyone loves a good deal. And when you sweeten it by throwing in some gifts and bonuses, your chances of closing the sale go up exponentially.
Make those bonuses targeted and relevant to what you’re selling, and you get a further boost along the path to higher sales conversions.
Force Multiplier #2 – Offer an Upsell
Your prospective buyer is ready to order… or just did. This is the point at which their level of trust in your ability to solve problems or provide value is high. It’s smart to capitalize on this ’emotional momentum’.
Make an attractive offer of a relevant product or service at the point of closing a sale, and you’ll multiply your net profit. No, don’t just bundle up something for the sake of an upsell. Think about ways to add value to their lives – and you’ll win the long game.
Force Multiplier #3 – Follow Up
Barely one-half of all sales (or less) are made at the first contact.
In most cases, you’ll peak a prospect’s interest, provoke curiosity, spark excitement – but that’s all. The initial feeling needs to be kindled, fanned and nurtured until it bursts into flame – leading to a sale.
A series of follow up email marketing messages will increase sales. Just ensure that you have permission to follow up, and be respectful of the attention you have been offered. It’s not permanent, so don’t take it for granted. Provide value, address doubts and questions, overcome objections, and you will close more sales over time.
Force Multiplier #4 – Take Away All Risk
In every transaction, there is inherent risk. Things may go wrong, or not work out. You may be cheated, or over-charged. Or get a dud.
If you can take away all perception of risk to your buyers, you’ll sell more.
One way to remove risk is to offer a strong guarantee that’s detailed and descriptive. Explain exactly what your buyer can expect to receive – and what you’ll do if they aren’t satisfied. This has a dramatic impact on sales.
Force Multiplier #5 – Genuine Testimonials
Even with a powerful guarantee, some prospects will hesitate to buy… until they see how others fare with the same purchase. That’s why genuine buyer testimonials are so powerful. They provide ‘social proof’ – and push a hesitating prospect off the fence, towards a sale.
A heartfelt testimonial that sincerely shares the benefits a buyer received will completely transform your sales conversion rate.
Force Multiplier #6 – Run Split Tests
Most entrepreneurs are content with their results – without troubling to see if they can get even better. An effective way to find out is to run split tests.
- Compare one headline against another.
- Try one price point versus another.
- Pit one guarantee or risk reversal against an alternative.
At each step, see which one works better, and keep it – while you drop the weaker alternative. Repeat the process enough times and you could double, triple, or even quadruple your results… from the same sales process!
Force Multiplier #7 – Create Continuity Programs
While first-time sales are an exciting challenge, they are costly – and therefore, the least profitable.
Every entrepreneur knows that the real value of a new customer lies in repeat sales. But there’s an easier way than to keep on selling – and that’s by creating continuity programs.
- Subscriptions to magazines or newspapers are one example.
- Gym and club memberships are another.
- Your monthly utility payments are also samples of continuity programs.
Think about how you can incorporate them into your business.
So there you are –
7 Powerful Business Optimization Techniques
They’ll increase your sales conversions and put more money in your pocket.
Implement just one of these ideas masterfully, and you’ll grow your profit by a huge multiple. Work combinations of them into your sales process and it will be highly profitable.
So you can even make 2 times, 5 times, 20 times… even FIFTY TIMES more from it!
Does that sound hard to believe?
I don’t blame you. I didn’t believe it, either.
Not at first.
Only after I put these concepts to the test did I become a convert.
I first tried one of the 7 powerful force-multipliers.
Saw how well it worked to grow profit.
Then I added one more to the mix, and then another…
And watched in awe as it boosted sales, revenue and profit.
That’s when I began to believe in them myself.
It will be the same with you.
“The only risk you ever have to take, in business and in life, is an inexpensive test.” – Jay Abraham
When you implement just a few of these simple, inexpensive techniques in your own selling and marketing processes, even if you do it sub-optimally, you’ll notice a definite, visible, ongoing improvement in your sales and profits.
And then, you’ll want to get more advanced training in exploiting these principles at a higher level, to grow your business exponentially.
But the devil is in the details.
So, to give you some more information about how to implement these principles, I’ve created a set of special reports, one on each of these force-multipliers.
You can have them all… for FREE.
Absolutely no cost. Ever.
These business optimization reports are all available right here on this blog, as a part of an Business Optimization series.
What Are The Reports About?
The reports reveal 7 VERY powerful ‘force multipliers’ that can expand your business and explode your profits. Best of all, these are really SIMPLE ideas that anyone can put to use in any business.
They’re great for beginners and novices, with plenty of value for even more experienced entrepreneurs. When you’ve read these business optimization guides:
- You’ll sell more products
- You’ll make a bigger profit
- You’ll establish authority status
- You’ll enjoy repeat business
- You’ll see it all happen fast – at little cost
In other words, whatever your business, whatever your level of experience or how big or small you are you WILL benefit from these force-multipliers in your business!
You will learn all about…
- How To Increase Your Profit By 62% – Or More – With One Quick, Easy Change To Your Sales Process
- Get Twice… 5 Times… Even TEN Times More Profit Out of the Same Prospect List!
- How To Use Bonuses To Sell More, Make Bigger Profits – & Build Loyalty With Your Clients
- The Amazingly Powerful Strategy Only Smart Business People Use To Effortlessly Increase Profits
- How To Wear Down A Prospect’s Sales Resistance… And Get Them Practically Begging To Buy From You
- Explode Sales By Doing What 5% (Or Fewer) Marketers Will – And CLOBBER Your Competition
- How To Easily Skyrocket Your Conversion Rate – Without Spending Any More Money
- The Magic Words That Boost Sales By 17% Or More – And You Won’t Even Have To Write Them Yourself!
And all of these special reports are yours FOR FREE.
Here’s What To Do Next…
Go through the reports.
Think about ways to apply these ideas in your business.
Try out one of them and see how it works for you.
I’m sure that when you’ve experienced the power of higher sales conversions and bigger net profits, you’ll be eager and excited to try all the others as soon as you can!
After you’ve tested out these ideas to see how effectively these business optimization techniques work, you may want me to help you out with even more advanced guides, audio tutorials, worksheets, web based tools and even an all inclusive comprehensive home study course.
In the meantime, I hope these FREE special reports on business optimization help boost your business and grow your profits.
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