The Five Proven Pathways To Get Customers To S.P.E.N.D More Money
Welcome to the Sales Growth Accelerator course that teaches you how to...wait for it...get your customers to spend more money, more often with you. Because that’s the whole point, right?
Sure, it feels awesome to help people achieve their goals. Teaching and providing useful tools and services is fun. But at the end of the day, these good feelings don’t pay the mortgage or put food on the table.
And that’s why you also need to look for ways to boost your profits, even while you’re having fun with your business and making a difference in the lives of your customers.
Now, with that in mind, let me give you a statement that is going to play a huge role in everything you read in this course…
Getting people to spend more doesn’t mean pressuring people to buy.
These are two different things.
There is a big difference between asking someone, “Do you want fries with that?” and making them feel like a loser if they don’t buy the fries.
You can offer batteries when someone purchases a remote-control car without playing with their emotions because they didn’t buy the high-end RC car.
SIDEBAR: While you may approach marketing differently than I do, everything we are going to discuss will come from a “sell don’t shove” perspective.
Getting people to spend more means bigger profit for you, but ultimately it should always mean bigger benefits for the customer.
Helping them solve their problems, reach their goals, and / or enjoy their interests will lead to them spending more money with you because they are getting what they want from the purchase.
You don’t have to twist anyone’s arm to get that result.
You don’t have to play with people’s emotions.
You can sell without selling out.
That’s the foundation of this course.
We’ll unpack it in depth over the coming ten modules, starting with the five parts for getting customers to S.P.E.N.D. more money.
S – SALES
P – POSITIONING
E – EXPERIENCE
N – NEGATIVES
D – DEMAND
Here’s a quick overview of each of these five pieces…
S for Sales
The goal for this step is to increase your Sales, as well as increase the average amount of money your customers spend with you. One really good way to do this is by cross-selling related items on or near the order form.
That’s because you’ve got a prospect who’s already prepared to buy.
They trust you enough to spend money with you. And all you need to do is offer them some related items to further aid them in their objective.
Here are three ways and places to do it:
Cross-sell a related item on the order form. Example: “Would you like to add a set of video transitions to your order for just $10 more?” See how that works? More benefit to the customer and more revenue for you.
Create a "one-time offer" for your order form. Here’s where you recommend a related offer that’s ONLY available during the ordering process. The product itself may be unavailable outside this process, or you may simply be offering a great deal on a product that buyers can’t get anywhere else. Example: "Membership to our private coaching group is closed to the public, but you can join (today only)…with your first month free."
Sell related products on the post-sale thank-you/download page. Your visitor is now a confirmed buyer, they’re excited about your product and anticipate results, and they are likely to buy something else that you recommend that will complement their existing purchase.
Together, these factors help you sell more on your download page. Example, "Want to extend your license? For just $20.00 you can turn your Personal license into a Whitelabel license which enables you to sell the product to other people."
Those are just a few ideas to get you thinking. We’ll unpack this component in Module #2!
P for Positioning
The second key to getting customers to spend more money with you is Positioning. Now, typically when we talk positioning, we’re referring to positioning your product. That’s important, of course.
But here we’re referring to positioning YOURSELF.
Specifically, we’ll be looking at how to get your audience to know, like and trust you. Because once they do that, they’re going to be more willing to spend money with you. We do business with those we know, like and trust. We avoid doing business with those we don’t know, like and trust.
One component of this is to position yourself as an expert in your niche, as this is part of getting people to trust you. You can do this by:
Blanketing your niche with content. This means consistently posting on your blog and social media pages, as well as doing guest blogging. You can also publish a newsletter and do webinars. Point is, whenever someone searches for solutions in your niche, your goal is to have your name and content pop up.
Work with other known experts in the niche. This lets you borrow their credibility and elevates you to their status in the view of your potential customers. Your association with an expert makes you more believable and trustworthy.
Offer something your audience can’t get anywhere else. Your unique tips, stories, case studies and other content will cement your reputation as a leading authority in the niche.
More on this later in module three.
E for Experience
The next key to getting customers to S.P.E.N.D. more is to give them a great Experience.
Now here’s the key: you need to provide a great experience at EVERY step of the process…
The brand-new prospect who doesn’t know a thing about you should develop a good impression of you and your business when they first visit your polished website.
The new customer who just made their first purchase should be happy about how easy it was to navigate your site, make the purchase, download their product, and the quality of the product itself.
The customer who has an issue – even one requesting a refund – should have a smooth, professional experience. Because even if they want a refund – perhaps because the product just isn’t a good fit for them; a good experience at this stage will help persuade them to try out your products again in the future.
We’ll unpack this even more in module four.
N for Negatives
The fourth key to boosting the amount customers S.P.E.N.D. with you is to eliminate the Negatives in your sales process, which are the reasons your customers are buying from your competitors instead of you.
Sometimes you can figure out these reasons all on your own, such as if you realize that your competitor’s USP (unique selling point) is stronger than yours.
In other cases, you’re not going to intuitively know why you’re losing customers. So, the best thing you can do at that point is to survey your customers and prospects.
You want to find out how they arrived on your site, what they’re looking for, and what it is about your products and sales process that made the customer choose your competitor over you.
TIP: You may need to offer your audience an incentive in order to collect this negative feedback, such as a free product. Offering an incentive may bias answers, but not offering an incentive means a lower response (because the customer has more loyalty to your competitor than you). The other plus of offering a product is that it gives your customer a risk-free way to try out your business, which may help with a future sale.
See module 5 for a detailed look at getting customers to buy from you instead of your competition.
D for Demand
The final component of the S.P.E.N.D. more system is Demand, and this is all about converting more browsers to buyers.
There are multiple factors that come into play to create a sale.
The offer needs to be the right offer in front of a targeted audience.
The product needs to have an attention-getting title/name.
The offer needs to have the right price.
The benefits (especially the unique selling point) need to be something that your audience truly values.
Once you get all these proverbial 'sales ducks' in a row, then you’ll start enjoying the benefits as more people spend more money with you.
We’re going to unpack all five of these components in the first five modules. For now, take a few minutes and consider your own business model. And answer the question on your worksheet.
I’ll see you in the next module, where we’ll take a close look at how to boost the average amount customers spend per order.