12 Growth Hack Strategies To Make Your Business Go KA-BOOM!

As promised, I’m going to be sharing with you notes that I took from the Live Training Webinar last week called, Growth Hacks:  The 12 Strategies for Doubling Your Profits Right Now!

Let’s get started, shall we?!

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12 Growth Hack Strategies For Doubling Your Profits Right Now!

#1 Lost Customer / Inactive Customer Reactivation

Already did what it takes to acquire them.
Less expensive than to get a new customer.

Don’t just show up out of the blue.

How to reactivate:

1. Apology – Re-engage – Delayed Offer
2. Re-engage with no apology – Delay Offer
3. Apology – Immediate Offer – Re-engage
   -Immediate offer needs to be an Out-of-this-World Offer

Timing:  Catch them before they are lost.

Activate the Alarm Bell.  Wake them up!

What mood do you put people in?

What’s the total experience?

• Better be entertaining (doesn’t have to be comedic)
• Not dry, not just the facts.

Make sure every piece of marketing fits the theme

{insert my blog post about each marketing piece}

Don’t presume prospects know what to do.  Take their hand and direct them on what to do next.

There’s always a sale to be made, not always monetary exchange.

Something to think about:  70% of people open envelopes from the back.  Have any copy on the back?  Is your sales letter facing the back?

#2 Cash Flow Surge Campaigns

(Problem – Solution – Bonus + Scarcity)

1. Got to have a list.
2. Must have an incredible offer!  No plain offers.
   -Multiple Offers
3. Why are you making the offer(s)?
4. Urgency:  Tight Deadline

#3 Slack Adjuster

Picks up the slack – so, add products with high profits, which most people won’t buy, but a few will.

Example:  Say you own a coffee shop.  You have really nice furniture where you customers can hang out with friends while sippin’ down your coffee.  Well, you could offer this high-end furniture for sale.  Most people won’t buy it, but if you sold one a month and your profit was $1,000, that would be $12,000 extra in your pocket.  Not a bad sum of money.

#4 Magic of Upsell & Cross Selling

You bought X, would you like to buy Y (or XYZ)?

Cross selling:  You’re using/buying X you should also get Y.

Example:  Carpet cleaner could also offer air duct cleaning.

#5 F3:  Follow Up 3 Times

“Appointment no sale.”  – Came to appointment, face-to-face meeting, phone, webinar and didn’t buy.

Setup follow up campaign:

1. Same Offer.
2. Price/Terms Change.
3. Switch to New Offer.
4. Drop 30 Day “Try Before You Buy.”

You can also use different voices.  Such as… owner is speaking, or spouse, or employee, or dog, etc.

When to stop following up?  When they tell you to stop or use math (Vale of Customer can’t justify cost).

#6 Marketing to the Affluent

They have the willingness to buy and the ability to buy.

Affluent have unlimited choices.

1. You have to justify affluent to choose you out of their choices.  Price is not as big of a factor.
2. Time is more important since they already have money.
3. Harder to get to cold, but much easier to multiple once you get one.

#7 Continuity & Forced Continuity

Think, “Book of the Month” club.

How can you get money from your customers/clients/patients on a monthly basis?

Forced:  Automatically receive X for X# of months, and then charged Y after, or you can cancel.

#8 Drop Down Offers

Drop price:  $100 to $75, etc.

Example:  Gold by the Inch.  $397 for kit, but get a $97 kit which can bring in $397 to buy upgraded kit.  $39 kit can bring in enough to buy the $97 kit, etc.

#9 Premium Offer

Premium version of a regular product.

Do you have a product that sells like hot cakes, that you can turn into a premium product and charge a lot more for?

#10  Raise Your Price

Less than 15% of people buy by price.

Most people by situationally.

“When people shop on price they do so in absence of evidence of comparative superiority.”  -Dan Kennedy

Know  your worth!

Freely acknowledge cheaper alternatives.

How to raise your prices?

• Upgrade opportunities.
• Just do it!  Just raise the prices.

#11 Marketing More Aggressivley to Existing Customers/Clients/Patients (List Segmentation)

Get details (behavioral data) and market directly to each list.

If one group of your customers buys X and the other buys Y.  Then segment this list so X customers get X offers and Y customers get Y offers.

#12 More Frequent Touches with Customers/Clients/Patients

Don’t be dull.

Remember:

• Frequency
• Consistency
• Relevancy

“Process is a big differentiator by itself.”  -Dan Kennedy

How are you doing things differently than your competitors?

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That was four full pages of handwritten notes.  Phew! 

Feel free to print this out and refer back to it as needed.

Also, you can grab your copy of Growth Hacks:  The 12 Strategies for Doubling Profits Right Now! by CLICKING HERE.

Now go take action!