31/03/2021
Want to build a sustainable business that pumps cash month after month?
One of the challenges most business owners face is the ability to generate consistent monthly income from their business.
Yes that is why every business you know or have heard about keep showing up to milk their market share and build a sustainable system for the owners, investors and the employees.
Because on a daily basis, you will always have bills to pay, charity to take care of and even loved ones who look up to you for support.
But here is the problem especially if you are starting out or still trying to navigate the deep waters if building a business.
Before I go into the details, let my tell you a bit about an experience I had 13 years ago.
While I worked with one of the financial institutions here is Nigeria, the brand of the bank was newly opened and handed over to a manager to build.
The bank itself has built a name already but the branch in question was just new and needed to compete both with over branches of the same bank within the same city and other banks.
It was a tough call on the branch as we needed to build our own customer base,grow the business and generate consistent revenue to pay the owners, investor and the employees.
We began to deploy strategies that will help of convert strangers to loyal customers. We tried everything ideas and strategies.
While some failed, others produced success and I will be sharing them here.
If you can learn a thing or two from this and apply them, your business will skyrocket with paying customers and you can automate the process.
âś… We defined our target audience.
âś… We began to reach out to strangers within our contacts who are food fit for our offers inviting them to bank with us.
âś… We offered extra support services to prospects to encourage them to do business with us - cash pickup at no extra cost on them
âś… We gave out gifts to existing customers to keep them coming back to us.
âś… We built relationships with potential clients and prospects.
âś… We offered value upfront and connected with more prospects.
âś… We gave discounts and cashbacks to encourage higher turnovers.
âś… We up sold them with more services once they are in the door.
Applying these strategies helped us to gain more clients and close more deals. And in 180 days after experiencing many loses, we broke even and scaled the business.
We began generating consistent revenue and cleared every loses we incurred previously while trying to build.
But one thing stood out for us all throughout the journey - relationship building.
When you apply these listed above using digital tools, you can automate the process and scale.
Daniel
P.S - Happy New Month, Happy Selling
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