BIG MISTAKE (8 of 10) according to Peter Thomson

Not enjoying the TWO HIDDEN BENEFITS of using a referral system

• Referral systems temperature check your relationship with your customers because if they are not referring you to someone after you ask this of them, then something is not as good as it should be in your relationship with them
• Referral systems are themselves a retention strategy because if a customer refers you to someone else, they will remain a customer to stay congruent with them referral

BIG MISTAKE (7 of 10) according to Peter Thomson

Letting your customers continue slipping out the back door

Three strategies to eeep them close and buying;

1. Unconditional contact – i.e. without selling them anything, e.g. “saw this, thought of you”
2. Have a well-thought-out script for contacting them and use it
3. Send them blind bonuses (i.e. unexpected) – something with low inherent cost to you, but with high perceived value to them

Systematise your customer retention process and PERSONALISE THE EXCEPTIONS, e.g. how www.TGIMondays.com works

BIG MISTAKE (6 of 10) according to Peter Thomson

Struggling to increase sales and profits by NOT using the THREE GOLDEN QUESTIONS of exponential business growth

1. How do we increase the number of clients?
2. How do we increase the average order value?
3. How do we increase the average order frequency?
   
   

• Turnover is vanity, profit is sanity but cash is reality
• You must systematise your referral system
• Try aiming for 10% increase in sales, 10% increase in Price and 10% Decrease in costs and you might BE AMAZED at the results. Have a look at the pic in this post, to confirm the results for yourself.

BIG MISTAKE (5 of 10) according to Peter Thomson

Thinking we can manage time when all we can really do is manage ourselves

• We can only manage what we do with the time we have been given
• The BIG ONE is email distraction. ONLY turn it on at otherwise inactive windows during the day, then turn it back OFF
• Your “do lists” – it takes strength of character to answer focused questions to enable you to prioritise your ‘do list’ and re-prioritise as necessary
• Your goals need to be auditable goals. Find them by filling the blank to, “If only I’d ___” – write down what your mind tells you. Try this one: “Yes, I achieved my goal because I _____” – and stretch your mind while doing this, e.g. a a zero or two to your financial goal
• Adding in just one more hour per days gives you and EXTRA 2 ½ MONTHS per year!!!
• Ask yourself, “Is what I am doing right now making money?”
• Follow the 4 D’s: do it, delegate it, dump it or diarize it

BIG MISTAKE (4 of 10) according to Peter Thomson

Marketing without the awesome power of the three-letter word

• You must tell them WHY you are doing what your doing
• You must tell them WHY for everything; including WHY you are offering discounts, formats, special offers, etc

BIG MISTAKE (3 of 10) according to Peter Thomson

Leaving cash on the table that is identifiable using the Magic Matrix (TM)

• Do you know what you sell? If you don’t know, your customers don’t know either.


• Do you know who your clients are? If you don’t know, your clients don’t know either.


• The empty holes in the Magic Matrix are your primary windows of Opportunity where you are leaving cash on the table (see the pic in this post!)


• Do you use survey monkey or Fusion Soft (CRM tools)? You should, to keep on top of who is buying what, who is interested in what, etc.


• Books / booklets are the best business card you can have, to establish yourself as an expert and display what you sell (and to whom) brad note – check out my very first post in this blog to get yourself a copy of Jonathan Jay’s free book!


• You need to be clear how replaceable you and your company are and how difficult it is for others to learn what you do


• Your customers should know, like and trust you


• If customers haven’t bought any of your other related products / services from you, it’s because they didn’t KNOW you sell them


• You need to make sure they KNOW, via websites, emails, newsletters, service calls, face to face meetings etc…


• In the telling, you are doing some selling


• A great line to use is: “I’m ever so sorry, but I’ve been so busy I haven’t told you about the others things we sell”….
  
• You can lead a horse to water but you can’t make him drink – UNLESS YOU ADD SOME SALT TO THE OATS FIRST

BIG MISTAKE (2 of 10) according to Peter Thomson

Avoiding the richlist mindest – you have to live just south of a town called Arrogant

• get in the right state – not A right state!
  
• Confidence is simply the application of confidence
  
• Position yourself as the obvious expert, the go-to person
  
• Radio interviewing will provide you a low/no cost way to display your expert status