5 Money Making Action Tasks To Grow Your Business
Inaction is the death of any business. Without taking regular action every single day to grow your business, inaction will cause your business to become stagnant. Clients will disappear, your sales funnel will be empty, and your revenue will dip to zero in a heartbeat.
Let’s avoid this scenario! Let’s jump into 5 action tasks you can take that will help you grow your income, as well as your business.
- Email Your Customers Regularly
Most people think that email marketing is an old and ineffective way to market their business, however, that’s far from the truth. Email marketing is by far one of the easiest ways to not only stay in touch with your current customers, but it is one of the best ways to generate new leads + nurture them to grow your business. Whether you send out emails weekly, monthly or a few times each month, the key is to be consistent with it. Make sure you are sending out a mixture of promotional emails, as well as informational emails to keep your subscribers interested. A wonderful implementation can also be sending personalized emails on birthdays/anniversaries etc. this shows your customers that you truly appreciate them and can really help you build customer loyalty.
- Focus on Customer Service
You will never please everyone, but you may as well try your best. Inevitably customers will contact you with questions or refund requests so be prepared to answer these requests in a timely manner. Stick to your rules about refunds but never disregard or disrespect a customer. Negative online reviews are easier to find than positive ones and they are very hard to remove. Respond to all comments, questions, feedback online, whether it’s on your social media profiles, website, blog etc. and try your best to steer conversations in a positive direction at all times. Even if you get a bad review/comment, you should always respond in a positive manner and with insightful feedback so that others reading can see that you tried to resolve the issue and you’re offering solutions even if one or two people are not happy with your business for whatever reason. Always combat a bad review with a positive comment.
- Raise Your Rates
When was your last rate increase? Are your prices competitive with the current market of entrepreneurs/coaches/service providers of your caliber? Can your ideal client still afford your new rates? Be confident that your expertise is worth that new rate and break the news carefully to your current clientele so they don’t jump ship from an unexpected price hike. One great way to do this is to add tremendous value to your clients business by having special benefits added to your packages or services, this can be in the form of special monthly packages instead of a la carte services, a special Facebook support group, a private resource page specifically for paying clients, VIP days for clients, live events etc. This will help you stand out from the crowd and give you a competitive edge.
- Repackage Your Offerings
There’s no need to reinvent the wheel, all you need to do is re-purpose your old content – these can be blog posts, videos, eBooks, books, programs, service packages etc. You can create new bundles with them or you can go ahead and create completely new products. One thing that you want to keep in mind, is that the new products/info should be something your target audience is interested in and should be in their price range.
- Create a New Offering for Old Clients
If it’s one thing that stays true, it’s that people will spend their money with businesses or brands they “know-like & trust”, so go ahead and open up your old client list and create an exclusive offer just for them. Be sure to make them an offer they can’t refuse! You can make it time-sensitive, VIP exclusive and as sexy as possible so that they’re prompted to take action which will give you fast results.
This is an age-old question of many coaches and entrepreneurs and it boils down to knowing your target audience. How do they want their information presented? What are the hot topics in their industry? What struggles do they face every day? The easiest way to know what your audience wants, is to flat out ask!
Another reason coaches and entrepreneurs don’t know what to offer is because they don’t have a clear plan, either for their business or for who they want to help. Writing a business plan with action steps is imperative for business growth and putting together a marketing plan is absolutely necessary as well.
I hope that these 5 action tasks will help you along as you build your business one day at a time. I’d love to hear your thoughts, leave me a comment below and let’s get this convo going!