New customers are the lifeblood of all growth-oriented businesses. Afterall, if you aren't generating new customers, then you likely aren't growing. And if you aren't growing, then you are just waiting to die.
That's harsh, I know, but there is truth to it.
What if I told you that I could show you how to acquire a new customer for effectively zero cost?
Imagine what that would mean to your business over the next six to twelve months.
Would that be something you would want to learn how to do?
The formula is something I've used time and time again to generate fresh customers for our clients.
The secret to this strategy is in how you contruct the very first purchase you ask you prospect to make. Let me explain.
Many companies will advertise their main product to the public and put most of their advertising budget behind that promotion. It's their goal to sell that product as the first purchase a new prospect will make.
For example, let's say you sell lawn care services. Many companies will advertise to service your lawn for $30 per week. Now this is a real committment in the prospects mind. Instantly the numbers start swirling around in their head and they are trying to calculate $30 x 4 weeks per month x 4 months of growing season...and they become overwhelmed. The conversion rate on this offer will be quite low due to the friction involved in the decision and the monetary committment.
However, let's say the same lawn care company knocks on your door and says the following, "Ma'am, we have a whole pallet of flowers I didn't need from a job we did for one of your neighbors. I think they would look beautiful in your front flower beds. My boss requires me to charge for my time, but I can give you the flowers for free. Would you be willing to cover my time for $12 and I'll get them planted right now?"
I'm sure you can see how this offer would generate a huge conversion rate. But we aren't done just yet, next comes the second offer...
After the flowers are planted, the worker shows the home owner how beautiful they look and asks, "Ma'am, I noticed that your yard has some weeds coming up in several places...these are very agressive and can take over your whole lawn unless they are treated. I can help you get rid of those while I'm here. I have a special this week for only $25 per treatment and I come back automatically 4 times per year so you don't even have to worry about it."
If you are a savvy business owner, then you can see how this offer will also convert like crazy.
Trust and goodwill was established with the flowers, as well as excellent results for the homeowner. This make the second offer much more likely to convert to a sale.
The same thing is true online.
By offering something of high value for very little monetary committment, you generate a customer very easily. In the prospects mind, the psychological barrier of being willing to trust your company is overcome by the overwhelming value compared to the perceived risk. This sale will essentially be a loss leader for you...however, not for long.
The real magic comes with the immediate followup offer, which is positioned at a price that will cover your advertising costs necessary to acquire a new customer.
You have now generated a new customer, and recovered all the costs to acquire that customer.
This effectively creates a zero-cost customer acquisition system and it works like a charm!
If you would like to learn more about how to sell more effectively to your leads or existing customers, we would like to speak with you!
We are standing by...ready to help.
Author: Ken Burge | Chief Strategist | Archion.io