Hidden Profits in Any Business Found with a Text
Hidden Profits in Any Business Found with a Text
Transcription of Episode
There is profit that is hidden, in most businesses, right under the surface.
In today's episode, I want to talk to you about one of the easiest ways to extract more profit out of your company while helping more people get what they want.
After working with thousands of businesses, one of the things that my brother Trent and I have recognized is that, the real opportunity to immediately grow almost any business is to convert the people who should have bought into buyers.
There are a number of people that will come to your business that will ask for information or look for information. they'll do all the things that are indicative that they would be a buyer. These are the same things that the people that actually buy, do, but then they don't buy.
One of the great opportunities in almost any business is being able to first, identify these people who are doing all the things that buyers do except for buy, and, then, be able to [00:01:00] convert them into buyers.
The way to convert these people into buyers isn't to high pressure sell them or anything like that. In fact, the most common reason that people that don't buy, that should buy, do not buy is because they have some question or concern that hasn't been resolved.
What I've noticed after over a decade of working with businesses that use marketing automation is that businesses that use marketing automation tend to lean heavily on the marketing and a little bit less on the sales. This opens up a door of opportunity to be able to just ask a simple question of the person who's demonstrated all the right signals that they're interested in buying from you or becoming a customer, but don't, and then inviting them to open up to you.
This is a relatively simple process. Some people may be even turned off by the fact of how simple it is or they may disbelieve that this is how easy it can be, but I've seen it time and [00:02:00] time again.
This includes companies that are very successful at marketing and they do a tremendous amount of business, but when they add this one simple function, and they don't all add it in the same way, but they add this simple function to their key processes for marketing and asking people to buy.
When you do this little simple mechanism, when you add this simple little thing into your business, into your marketing automation, that elicits the opportunity for a potential buyer who has not bought to ask a question, to express a concern, you just get ready.
You're going to see your profits go through the roof. This is really exciting.
The simple little mechanism is just having an outbound text message go to somebody who's indicated that they are interested and they've showed all the signs of buying, but they don't buy in the time frame that you expect.
Just ask them a simple question: "Hey, I noticed that you were looking into our service or product and that you [00:03:00] haven't decided to become a customer. Is there something that's holding you back?"
That's as simple as it has to be. It doesn't have to be more sophisticated than that.
This presupposes that you've done a few things.
The first one is that you've paid attention to Marketing Rule #19, which says: "Before you decide how you're going to lead capture, know how you're going to sell."
You need to open the door for texting in order for you to be able to have this option. You need to have them give you permission to text them, either by having them initiate a texting conversation with you by texting a keyword to your phone number or by getting express permission in a web form or some other form where they say, "Yes, please. You can text me or you communicate with me via text".
If we've opened up that door, we give ourselves this opportunity to do something very simple. It's a very easy mechanism to use that will allow you to be able to get this person who should have bought, but hasn't, to express whatever it is that's holding them back.
[00:04:00] The answer that may come from that question could be a number of different things, but just initiating the conversation is the real secret.
In my recent book, The Messaging Connection, I said something to the effect of, "Sales happen in conversation." And, if you really look at it, this is true.
No matter where you go in your business, sales do not occur unless there's a conversation.
This conversation may be in the form of copy, it may be in the form of a text message conversation, it could be in the form of a phone call. Somewhere, conversation is happening that is leading to a sale.
It's really important to be able to open up that door and give those opportunities to people to communicate with you.
I don't see a whole lot of sales happening via email unless a person is getting this inclination that is a live email and they're looking forward to it. It's a lot harder to break through with email, which is why I always go towards the text message. If we've opened that door, it's a lot easier to get somebody to see it [00:05:00] and to actually respond to it when we're open to hearing what it is that they have on their minds.
This is the real secret to unlocking some immediate profit gains in your company.
By simply asking people who you've spent all the money to get to raise their hand, to indicate that they're interested, but then have not bought in the time that you might expect them to buy. If you will just ask him that simple question of, why is it they haven't become a customer yet, you're going to find out what it is that's holding them back.
That gives you a great opportunity to address those concerns, overcome those doubts, and give them the opportunity to actually become a customer.
We've seen this as much as double people's revenue, just by asking that one simple question, just by introducing that one simple opportunity.
You may choose to elicit that conversation in different ways. It doesn't really matter how you elicit that conversation as long as you give that person a chance to open up and express whatever it is that's holding them back.
When you do, you'll [00:06:00] be amazed at the results.
This is Ryan Chapman from FixYourFunnel. Keep moving forward.