56% Increase in Sales with One-click Sales, Cross Promotions and Downsells - 401
Build Your Tribe | Grow Your Business with Social Media
Brock Johnson
4.9 • 2.7K Ratings
🗓️ 23 July 2020
⏱️ 25 minutes
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| 0:00.0 | Welcome to this edition of Build Your Tribe. Today we're talking about how you can make |
| 0:07.4 | more money in your business without having to find new customers. We're talking about |
| 0:13.6 | upsells, cross-sells, and downsells. Today on Build Your Tribe. Listen, the toughest thing |
| 0:19.8 | you're ever going to do in business is to get a customer. It's the most expensive thing |
| 0:24.0 | you can do. It's the hardest thing to do. It takes the most time, and it is the most |
| 0:30.1 | valuable part of your business. The question is, how do we make more money without working |
| 0:36.7 | more hours? I mean, a lot of what we teach here on Build Your Tribe, a lot of what we cover |
| 0:40.6 | inside the marketing impact academy, are those things that allow you to earn more without |
| 0:45.6 | having to work harder. One simple way to do that is by raising your prices. Obviously, |
| 0:51.6 | the next best way is by reaching more customers, which often takes advertising or additional |
| 0:57.1 | efforts in social media. But the third and often most commonly overlooked way to make |
| 1:03.8 | more money without having to work a whole lot harder is by increasing your customer's |
| 1:09.2 | lifetime value. The most immediate way to do this is by increasing the amount of money |
| 1:14.8 | that your customer spends the next time they do business with you. You know exactly what |
| 1:20.4 | this looks like because, well, actually, now if you can remember a time before COVID-19, |
| 1:27.1 | when you would go to the restaurant and at the end of your dinner, your waiter or waitress |
| 1:31.1 | would come to the table. Wait, staff, I think is the PC term. Your wait staff will come to |
| 1:35.4 | the table and say, how is your dinner? Wonderful. Did anybody save room for dessert? Right? |
| 1:40.2 | And the goal of that conversation is to get you to increase the total cost or the total |
| 1:47.3 | price of your bill. Another way of doing that is when you finish your cocktail, where |
| 1:52.6 | you've almost finished your cocktail, the wait staff says, would you like me to bring |
| 1:56.4 | you another? What they're doing is trying to increase the amount of money that you spend |
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