Starting a business is the easy part.
You are stoked, leaping off buildings, shouting from the rooftop about your new product or service. Probably even your new profound meaning of life.
But this wears out.
Especially when you are not making sales.
One month turns into the second month then the third and the sixth comes along and your bottom line is nowhere near the breakeven point.
You get frantic. And wonder how dumb are people to not see how mind-blowing your business is.
But it doesn’t have to be that way. In fact, you can start a business making sales right off the bat. Another way to know if you should either keep pursuing your business idea or just flash it down the toilet is through testing. Test various marketing methods as you analyze their effect on your business.
Also Read: How to be an Amazon Affiliate Associate
Finally, your business is like a baby, within the first couple of years, it requires dedicated attention.
So let’s get to it.
Create bundled products or services vs only individual choices
Bundling of products or services is taking a couple of your product or services that compliment each other and offer them for a lower price than if someone was to buy each individual item alone. For example, if you are selling someone a piece of cake for their birthday, you can have a package of the cake alone, another package of delivery and another package of delivering the cake with extras (this would include, drinks or birthday card).
Inform your client, they can pay for the entire package of whichever they choose for this and this amount for a low price of $$$. If they choose to add that package later, it will cost you $$ much more.
Since nobody likes missing out on deals, you will get your client to re-think their options.
The fewer the options you have for a certain package the better for you. So 2-3 options is what you should be targeting.
Also Read: You know your business sucks if…
Another example of bundled products is collaborating with other business partners who share the same market with you and their product or service compliments yours.
If you sell web design and development, partner with a web-hosting company.
This in fact creates a win-win situation for everyone; the client, your business and the other business person involved in this partnership of bundled products or service.
Set specific exclusive offers (student, animal owners)
You can have offers every month. But rather than having offers similar to everyone in the market. Have offers exclusive to a certain group of people. Remember to have your ideal client in mind when you are creating an exclusive offer.
Your offers don’t have to cost you an arm and half your lung. No. Your clients just want to know that they are special to you. Not just another means for you to make a buck.
So you can have offers ranging from discount coupons to extras after someone makes a purchase. More on this on point four.
This will keep your fans on the edge. Always looking and checking if the offer this time round is targeted towards them.
Increase anticipation by letting your fans know there will be an offer coming up but it will only be available for a limited time.
Design specific referral programs
Creating referral programs makes your customer feel appreciated and you don’t have to work twice as hard to get a new client.
You can create affiliate accounts for your customers where they get a certain discount or commission when someone purchases using their special code.
Co-market with non-competing businesses with similar clients
Do you recall how we mentioned creating of bundled products or services in the first point?
Sometimes, you only have one product or service you are selling. Especially, if you are just starting your business, you are still testing the market.
So as a business owner, you would like to increase your market reach. What better way to do it than through partnerships. You will be reaching to the market your partner has and they will be doing the same thing.
For example, if you design African shoes for the ladies, why not partner with someone who already has a clothing market established.
Pair your shoes and their clothes together and sell them as a bundled product.This bundled product should definitely cost less bought together than bought separately, even if it is by a margin of 4%.
Create an ADD-ON item/service to offer customers at purchase time
An add-on item or service at the shopping cart or immediately after someone has made a purchase is called an upsell.
The logic behind this, is once a customer has opened up their wallet for you, they already trust you. So you can easily sell them something else before they leave your website.
To make the point clear, let’s say you have an online course that you are starting. For the course you have created different packages. Package one is the basic package where the customer get’s all the modules but does everything else for themselves.
The second package has swipe files and cheat sheets included in them. This is probably the ideal package.
And the final package gives a more detailed one-on-one sessions with you and group calls where you answer all their questions. This is the most expensive package.
Now most people will not purchase the most expensive package but to entice the customers that have purchased the other two packages to spend more once you create an upsell of a discount where they can get replays of the group calls at a lower cost.
Run or sponsor an event for your community
The event can either be online or offline.
Running or sponsoring an event increases your reach. More people getting to know you, you increase your chances of getting more customers.
Don’t fret, it doesn’t have to be expensive. You can start a simple giveaway online with other entrepreneurs or business owners who have the same and diverse market reach from yours.
Create a product or service that will be low cost for your bottomline. You could even use already done for you services for previous clients or customers.
The main agenda here is increasing your market reach and your trust factor to the said market. So no shoddy business. Put up a soddy job, and you have yourself to blame.
Personally, I would recommend running your event. This gives you the final say on who else can have a giveaway and what kind of giveaway they should have and the standard of giveaway.