As business owners, our time is our greatest resource yet it can often seem in short supply. Between the huge list of stuff we've 'got to do' and the continuous pressure ofseeking new clients and building profit, we have no time for ourselves. The trouble is, this leads us into a vicious cycle. When you become all work and no play, your brain isn't being stimulated and you lack creativity. It makes work 100 times harder when you just can't think, it also makes work depressing instead of fulfilling. I could go on and on about this subject but since that clock is still ticking, I'd rather just share two tips that you can start implementing today to free up your time while increasing your profits.
1. Stop trying to get new customers
Attracting customers is really hard work. You need to proactively go out and find them then you have to spend a ton of time building a relationship with them and nurturing them until they are ready to buy. If you are constantly trying to get new customers online or offline, I feel for you. It is exhausting! It is also a bad strategic move for your business. As Pareto rule states:
"80% of your profits come from 20% of your customers."
This is so true. So you are actually focusing all your efforts on capturing those 80% of new customers for what? A fifth of the profit you could be getting from clients you already know and have. It just doesn't make sense.
Once you have a client, you have done all the hard work, its just a case of providing the best, most memorable experience that ensures the client wants to stay and continue buying your products without you even trying to sell to them.
It's a lot easier to upsell a happy client than it is to go through the whole process of finding a new one and working hard to make them happy all the time. All you’ve got to do is research and interact with the client until you know them inside out. This way you can provide an unmatched personal experience that will blow their minds (in a good way. I know this might sound like hard work but here’s the trick; because everyone shares everything on social media, its actually very easy to find out any information you want/need with a couple of clicks. Best of all, none of your time is wasted because you know that client is going to be so impressed, they have no choice but to stay ;-)
Bonus: Also remember that loyal fans tell everyone about you because they feel that personal (emotional) connection to your brand. When it comes to social media, you gain social proof, some free PR and access to a whole lot of new prospects :-)