How to Use What Your Competitor is Doing Well to Improve Your Business

It’s time to check out the competition!! In school it may have been called cheating, but in the business world it’s just good old-fashioned market research!
Find out where your competitors are advertising, spy on their sales funnels, and see how you can replicate any of their good ideas that appear to be working well. There are many online tools to find out what ads and keywords your competitors are using. There’s also a couple of basic ways to see what your competitors are up to - follow them on social media and subscribe to their blogs and newsletters. If they have smaller priced items, you may choose to purchase one of their items to see what their purchase process is like, whether they offer upsells, what those are and what their follow up process is to a sale. See what they are doing really well and look for how you can replicate it or adapt it to your business.

For example, if you sign up to a competitor’s newsletter, you can see how they nurture a lead and turn it onto a sale. Is there anything you see in this process that is working well that you can adopt for your business?
Or you may purchase a small item from them and find they are offering a great upsell - is that something you could do?

A simple trick you can do to spy on other offers is to check ads on other sites or on social media like Facebook and just see how many views, comments, likes, etc. they’re getting. If there’s a ton of comments, for instance, it’s likely something you want to look at and see what you could replicate or do better. You don’t have to always start from scratch or re-invent the wheel.

In fact, several of our businesses we originally got the idea from after seeing other ads with lots of views and comments on them, and then checking out exactly what they sold, what their upsells were, where else they advertised, etc.. And then we’d research to try to find out if there were other similar offers and what they looked like.

Often times we would find ways of offering a better front-end product (they wouldn’t even have to be the same type – just something in the same niche or appealing to the same crowds), more or better upsells, better ad copy, different ad sources, etc..

Sure, we’ve also started new offerings not based on anything else other than a random idea we had, but those always seemed to be more risky and more likely to fail from the start. Starting off with a model that seems to at least be working in one way or another is always a good idea! That’s not to say that you have to copy everything exactly as is, but by spying on what others are successfully doing and seeing what you can learn or mimic from them, you set yourself up to succeed far more easily.

So find out where and how your competitors are advertising and what their sales funnels are. Then look at what they are doing well and see how you can replicate this for your business.

For more insights on how to nurture leads and improve your sales funnel, check out this tool here: BizFire's Free Funnel Maker & Analyzer

How to Create Repeat Customers Using Future-Use Coupons

How can you encourage customers to make their second, third, and fourth purchase with you? How can you entice them to keep coming back and buying from you, changing them from a once off customer to a regular? Future-use coupons are one great strategy to employ to incentivize customers to make that next buy.

So how do future-use coupons work? When customers make a purchase, you give them a coupon for a dollar value or percentage off their next purchase. This is called a “future-use” coupon. It encourages your customers to come back and purchase from you again, and keeps you in their mind. You can even make receiving the coupon dependent on spending a certain amount, to encourage customers to spend more per sale.

For example, if you have tennis shop, you could have an offer where if they spend over $100 today they get $25 off their next purchase of $100 or more. Not only does this give an incentive for your customers to spend $100 now, it also gets you an additional $100 sale next time they come in wanting to use their coupon.

So encourage customers to come back to you with “future-use” coupons, where, if they spend a certain amount with you today, they get a percentage or dollar discount next time they make a purchase with you.

Want more great tips on customer retention and turning your clients into repeat purchasers? Check out this book 50 Marketing Tips & Tricks Learned After $100 Million in Sales Over 20 Years!

How to Go From Having Customers Balking at Your Price to Being Ready to Buy – the Power of the Word “Only”

How items are described and the words we use to frame situations can have a big impact on how we then think about a scenario. Just as saying, “I cut my finger, but there’s only a little blood” versus, “I cut my finger and there’s blood everywhere,” paint two very different pictures, the words you use to describe your pricing can make a big difference to your sales. Something as small as just putting the word “only” before your pricing can increase your sales.

For example, if your price point is $97, instead write "Only $97." Psychologically, by putting “only” in front of the price, you are making little of the price, implying that it isn’t that big, and is a good deal.

While it may seem small, little tweaks can have a big impact on conversions. How we “frame-up” and train our customers to think about our pricing can influence their buying decision. By using the word “only” before your price (eg, “Only $97” vs. “$97”) it psychologically implies the value you are getting is greater than the small amount you are paying.

For more tips and tricks on increasing sales, marketing strategies and ways to make more money in your business, check out this book 50 Marketing Tips & Tricks Learned After $100 Million in Sales Over 20 Years!.

How Listening to Your Clients Wants and Needs Can Help You Land More Sales

Business owners often do more talking than listening. When it comes to making sales, often it’s best to do more listening than talking. Instead of overthinking and brainstorming what your prospects might want, why not just ask them? You’d probably be surprised at how easy it can be to sell them what they’re already telling you they most want/need.

For example, if you’re selling a variety of online marketing or web services, instead of trying to force them to buy a particular SEO package to help rank their site, why not ask them what they think their biggest issues are right now with their business? You might find that they really don’t care much about their ranking but might instead be focused on their social media, e-mail list management, or some other service that you could easily do for them.

Once someone tells you what their issues are, ask them what they think that would do for their business if those issues were solved, and then ask them how much more they think they could make with all of those things being fixed and running smoothly. This lets THEM tell YOU the value those services mean to them rather than you trying to convince them of the value that you can bring to the table. The more you talk about yourself or your services instead of just listening to what their needs are, the less likely you are to typically land those sales.

And, as an added bonus, this method works well both for prospects who’ve never bought from you, as well as for existing customers that you could sell other things to.  For instance, you might find that all of your clients of one service are practically begging to buy a different service if only you offered it! And this might be incredibly easy for you to either offer or outsource.

One of our clients once was able to nearly double his net income just by finally asking what his current clients also wanted … and then simply offering them that after years of not selling them anything else! It’s amazing how much money is often left on the table by most businesses out there (even we’re guilty of that from time to time). You also might be surprised at what your customers say that they want, as it might be completely different than what you think they’d want.

So ask your prospects and clients what their needs are and what would help them the most and then provide them with a product/service that fulfills that need. Do more listening than talking to land the most sales.

For more help mapping out your upsells and sales funnels, so you can look at how you can increase your business, check out this software that helps you build out your sales funnel. BizFire's Free Funnel Maker & Analyzer.

How to Build a List by Solving People’s Problems

So you’re looking to build a list? This strategy is a great way to build a list of people that are interested in your niche. First, find relevant Facebook groups in your niche, join them, and take the time to see what people are complaining about. What are the common complaints that keep coming up again and again? What product or service could you come up with to provide a solution to these complaints? Once you’ve come up with a solution, sell it or give it away for free to build a list or following.

For example, if you run a wedding planning business, join Facebook groups in that niche and see what the common complaints among brides-to-be are. Perhaps they find that it’s very overwhelming, trying to remember everything to organize and knowing when to do what. You could create a timeline checklist, of what to organize when in the countdown to the big day, and offer it free to build a list of potential clients.

So join Facebook groups within your niche and see what the most common complaints are, then find a solution to these complaints and either sell it or use it to build a list or following by giving it away free.

For help with finding leads and building your list, you can check out a demo of WebFire's tools here and grab a special deal!  Web Fire

The Marketing Tip To Boost Your Sales: Sending “We Haven’t Seen You In A While” Cards With An Incentive To Buy

Most businesses tend to practically ignore their prospects and even their best clients. This is a horrible thing to do, as you’d be leaving a ton of money on the table in doing so.

One thing that you can do to help remind your prospects and customers about you is to send either an e-mail or a card with something like a thank you note along with an incentive to take some further action (like a discount or a freebie leading into a sales offer of yours).

For instance, if you have leads that haven’t bought from you but who’ve expressed an interest of some kind, you can either automatically (via an autoresponder) or manually follow-up with them by writing an e-mail saying how you haven’t seen them in a while, want to thank them for previously reaching out, and then letting them know about either a freebie you’re currently offering, which can lead into a paid offer, or a discount or other incentive/deal that you currently have. This can help revive old, “dead” leads into being active buyers.

Likewise, if you have existing clients that bought one of your offerings but haven’t been active since, you can send them a thank you for being a customer along with a similar freebie or special discount/offer exclusively for your members/customers into some other offer you have. This can be a great and easy way to make more sales without a ton of effort.

So follow up with old leads and past customers with a “we haven’t seen you in a while” message, thank you note, etc., along with a freebie, incentive, or discount to help drive more sales from them your way while also making them feel appreciated at the same time.

For more easy ways stay in contact with your customers and drive sales to your business, check out this tool BizFire's Free Funnel Maker & Analyzer.

How to Drive Sales and Traffic to Your Business Using Social Media Influencers

Did you know that some big influencers out there online can literally drive millions of dollars in sales, with a single post on social media, or mention on a big blog? In fact, there’s even billion-dollar businesses that have gotten their start from single big influencers mentioning their products.

And, surprisingly enough, it’s easier to do than you might think. Sure, it might be far harder to do a multi-million dollar launch overnight from a big star mentioning you just to be nice, but there’s plenty of well-known influencers that can still drive a ton of sales your way (and you never know when you might get lucky by landing a bigger one).

To increase your chances of this, you should take the time to reach out to these big influencers, blogs, news sites, etc., and offer them your products for free in the hopes that they’d be willing to review them.

Sometimes you can even pay these influencers to mention your products. And although some of the biggest influencers out there cost some serious money to do that, others will do it for virtually pennies on the dollar (think about it - $100 or so for a minute or two of their time is a very good deal for some even semi well known influencers).

Not sure how to find these influencers? Don’t overthink it! Search social media sites like Facebook, Twitter, Pinterest, YouTube, etc., on top of forums, blogs, big news sites, magazines, etc., and then reach out to them directly on those sites (either via messaging or finding an e-mail address).

You can also do a twist on this method by reaching out to relevant blogs, news editors (magazines or big news sites), as well as others in the media, and then offer to write up an article for them on a topic related to your product. As long as it’s not just a promotion, several of these editors often times are tasked with writing new articles but don’t necessarily want to do all the research and writing themselves. If you do the work for them, allow them to edit it any way that they want, and aren’t too sales pitchy, you can land some big publicity with some big influencer sites.

So take the time to identify and reach out to influencers and big sites to see if they’d be willing to mention your product (even if for a price) or review it for a free copy. Just a couple of deals can create a big boost in sales for you!

For more ways you can use social media to drive sales to your business, check out this tool here News Poster.