Think about this.
It’s seven times more costly (in both money and time) to get a brand new customer than it is to KEEP an existing customer.
This bit of data comes to us from the White House Office of Consumer Affairs. (I’m not just making it up so I can teach you some kicky new strategies.)
So take a moment to consider, not just how you GET your clients – but what you DO once you get them. It makes a huge difference. Most solo business owners think only in terms of getting the sale. It goes like this:
- You put lots of effort into selling your thing.
- Someone hires you or books you. Yay, you got the sale! (Or the date, or the client.)
- You fulfill the sale.
- Then, it’s over.
- Now you gotta go out and get another one.
All well and good. (And like I said, it’s how many people run their business.)
Here at Uplevel You, we call this a “transaction-based business.” The people who operate this way are “Transactionists.”
When your business relies on transactions alone, it’s a lot more effort for you. (7 times more to be exact.) You work constantly to find the buyer, market to the buyer, sell to the buyer, fulfill the sale – and then start all over again. That’s a lot of energy.
Even if you DO master this model – (most people don’t) – you’ll eventually run out of hours in the day to fulfill each of these sales – or to keep finding new transactions.
Which is why so many business owners are so freakin’ tired.
In fact, the enemy of the Upleveled business is the transaction. (Or at least, the transaction mindset.)
So, it doesn’t matter if you’re a lawyer, a coach, a wedding photographer, a designer, a speaker or a candlestick maker… if you want a consistently successful business, you have to shift into a new mindset.
How To Get the Most of Each and Every Sale
You must become what we here at Uplevel call an “Anti-Transactionist.”
An Anti-Transactionist lives from this philosophy:
When you get a sale, you don’t get a sale. You get a customer. Huge difference.
An Anti-Transactionist does one key thing differently from exhausted business owners…
She sets up systems so that one transaction naturally becomes many others. She still makes transactions. But that’s never the end point.
How do you do this?
Well, here are the 5 action steps that will help you get the most out of every single sale you make:
1 – Sell packages, not hours
This one thing alone will change your entire business.
Rather than make an appointment here and an appointment there and charging dollars for hours (or dollars for sessions)…
….create packages so that you’re not waiting for clients to schedule their next transaction with you. It makes your life (and theirs) much easier.
2 – Create impeccable reach out systems
Sometimes an entrepreneur will frantically message me at the 11th hour. She wants to know how to “upsell” or pitch a renewal to a current client when their package is about to end.
The problem here is that it’s a hail-mary pass. Offers like this are made out of desperation. Not service.
The time to think about a current client renewing is the minute he signs up the first time.
In other words, sit down and map out exactly how you’ll add value, connect with and reach out to your current clients. What does your on-boarding process look like? How do you celebrate when they hit a milestone?
When you create structures and messages to anchor your client, you create something that elevates them and helps them understand the value they’re getting during your work together. This makes a renewal a no-brainer.
Direct mail guru Dick Benson said: “It’s three times easier to get a second sale from an existing customer than a first time sale from a non-customer.” This means it’s worth taking some time to think about that second sale before the 11th hour.
3 – Create simple referral systems
Notice how the word “system” is showing up here. A system is something you build and orchestrate. It doesn’t have to be manipulative or slimy. But it does have to be set up in advance. (In other words, you “winging it” is NOT a system.:) )
Nowhere is this true more than with referrals. Referrals are not just little mysterious blessings that happen by chance. Every customer you work with is connected to hundreds of other people. Learn how to orchestrate referrals to extend transactions infinitely and effortlessly.
4 – Always know the very next step
When you fulfill a transaction – whether it’s a speaking gig, a corporate training, a seminar, writing your book – always think in terms of the NEXT STEP. What is the next step the audience, or the prospect or client can take? Once you know this, you can set up each transaction to lead naturally into that next step.
For example, when I was a songwriter and performer, I was on tour 260+ days per year.
One of my secret strategies was knowing that it wasn’t just about racking up more gigs. I also knew that in every audience (in addition to fans) there were people who
A] would come to one of my women’s retreats, and
B] would hire me to do a Creativity Training for their office or employees.
I always made sure my stage banter included stories from those experiences. I didn’t have to pitch these things. I just planted the seed. They would seek me out and ask for the next step.
So, if you fly around the country for speaking gigs – and each one of those gigs is the end of the line for the money flow – then you’re a Transactionist.
However, if you engineer a next step where audience members can sign up a VIP session with you – then you become an “Anti-Transactionist.” You’ve added a “Next Step” that turns your transaction into a lead generator and extended cashflow.
(And hey, if I could do this stuff as a musician and entertainer…then anyone can do it!)
5 – Educate your clients
“My clients don’t know that it takes more than just one session to experience results.”
“My customers think it’s all about just picking my brain over lunch.”
“People just want a quick fix.”
If you ever say anything like this, then guess what?
The burden is on you to educate your peeps how you can help them further. And no, this doesn’t mean you create a brochure called “How I can Help You Further.” It means you creatively and consistently educate your clients by dispelling their doubts, overcoming their objections and addressing their misconceptions.
Will these steps take focus, strategy and work on your part? Yup!
But when you do them, your revenue flow will become more effortless. Check it out…
Becoming an anti-transactionist takes focus, strategy and some mindset shifts on your part. But we’ve seen thousands of our clients break out of the transaction mindset and make a lot more money without working more.
Now you… if you had to pick ONE of these, which could you implement quickly and what kind of impact would it have?