Apr 14, 2008

Do Something Different

Are you finding it hard to succeed in your business objectives?

If so, you might be in a rut. If this is you, there are a few ideas I'm going to share to help you break free and start getting the success ball rolling again.

First, minimize what didn't work.

If you're finding yourself spending a lot of time trying to sell a service that either has a low profit margin or high levels of competition, you might want to minimize selling that service for a while. I'm not saying to can it completely. Just consider leading with something else for a while.

Second, do something different.

Yes, break away from what you have been doing and focus on something where people have told you "you know, if you could do.... I'd pay money for that." Maybe it's time to offer that service! Break away from what you did that wasn't working, and try something new that might.

I had some success with one of my services this past year, but it wasn't exactly breaking the bank open nor was it exciting me to even deliver that type of work. So, I decided to do something different. I looked for a new angle in a related service where I could use my skills, knowledge, and background to maximum affect.

Third, improve your new service.

I also took stock in recent customer comments and honed a service through feedback until I had a viable new service to offer into the marketplace. Each time I sell this service I get more and more focused on what my client's need to get the biggest return for the dollar invested and deliver more and more of that. As a result, I've been able to raise my prices. That's a good thing, isn't it?

Fourth, find a way to bundle more services to increase your price (upsell), differentiate, and add value.

Add additional services into the offering and bundle the service or product with other products and services you sell. This may increase the amount per sell. You've heard it's six times easier to sell to the client who already buys and this is true. So, get more money from each client by offering an upsell.

Fifth, downsell (unbundle any services they don't want) to get what is in front of you.

By downselling, I mean don't be afraid to unbundle your products and services to get the sale the customer CAN AFFORD. In other words, get what's in front of you. Tom Antion, a great Internet marketer, often suggests a downsell for ebook sales. So, if they say "I can't afford the $39.95 e-book" then offer them a window that says "Hey, maybe my e-book isn't worth $39.95. What do I know? Why don't you tell me what it's worth!" and then he offers them options of $29.95, $19.95, or $14.95. You'll capture 30% more orders at the $14.95 and maybe even once in a while a $19.95 order!

So, if you're stuck in a rut, try the following ideas to break free to create more success:

First, minimize what isn't working.

Second, try something different. It certainly can't hurt to try something new. I always suggest offering the service that people have been suggesting they'll pay for if you offer.

Third, expand the value and differentiation to continue to grow the new service.

Fourth, expand your offering. Find a way to add back other services into the offering to bundle services and add more value. A client may ask you to unbundle a solution, but you'll sell more if you lead with the bundled solution.

Fifth, offer downsells to sell what's in front of you. If the client will only buy the base solution, sell that. If they client can only afford a trial solution, sell that then. Just sell what's in front of you. The more feet you get in the door, the more opportunities to get your whole body in later.

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