3. Charge more, or make more per transaction
Another option is to charge more money so each transaction will gain more profit. Many marketers focus on making more sales by increasing their customer base, but making more per transaction requires loyal customers. It’s much easier to sell to customers you have already built trust with, so focusing on personal relationships with current customers can provide far more opportunities than constantly trying to reach new ones.
Just recently I cleared a large portion of my contact list. This may seem like an odd choice for a marketer, but I only want to give my attention to people I can effectively communicate with. Instead of trying to scale your customers, get dedicated followers that will pay more for your products.
Note: This article was created from the conference Achiever II, and is rewritten from the speech given by John Morgan.
After building and selling a successful real estate business, John Morgan became the founder of ACHIEVR: a company that provides coaching for entrepreneurs and leaders. He currently runs the ACHIEVR Tribe group coaching program and acts as a mentor to select entrepreneurs.