If you sell a service rather than a product, you will sooner or later run into the problem of bringing in new clients. As in, it takes a lot of time and effort, and the rate at which your bills accumulate starts to outpace that of profits rolling in.
Many service companies and freelancers accept periods of no work and no income as a necessary evil. But you don’t have to – and here’s why. There is a big (potentially unlimited) source of profits right at hand! I’m talking about your existing customers.
Which is easier: persuade someone who has never worked with you to pay for a service, or do the same with a client who already values and appreciates you? Why not give them a chance to fall even more in love with your business by offering more value – for more money?
“But I don’t want to take advantage of a client!” you might say, with or without indignation. But is it really like that? I heartily recommend you apply the strategies outlined in the post – not just for the sake of generating more income (an obvious primary goal), but also for keeping your customers happy.
Several proven methods exist that will increase your profits with existing customers. Some of them are stupidly simple and obvious. Others are brilliant and unexpected – at least that’s how they seemed to me back when I discovered them.
When putting these strategies together, I tried to go beyond upselling and played to the main strength of a service-based business – the relationships that develop with clients.
All of the approaches you will find below are under-used to the point of negligence. Yet any one of them, even when used in isolation, can increase your income by 50% or more, easy. So let’s dive in!
Editor’s Note: this is the second post in a series on how to explosively grow your audience-based business. Hassan had so much to say on the subject that we asked him to write 3 in-depth posts all about how to grow your business!
Do you ever feel like your audience based business isn’t living up to its potential?
Your fingers ache from creating killer content, you’re burnt out from all the networking you’re doing, and your brain is numb from thinking of new ways you can help your audience.
But you still feel as if your business could be better. You feel as if your audience could be bigger, your relationships stronger, and your profits higher…
The first step to living up to your business potential is to generate more leads. And thanks to the strategies in part one of this series, you’ve got loads more people viewing your website, product, or blog.
This alone will increase sales, but the next step towards exponentially exploding your business is to increase the percentage of people that buy from you. Now, it’s time to focus on conversions.
But what about you, the creative individual? What about the artists who are really great at selling their work in-person? How do you navigate the transition from offline to online success smoothly?
It’s certainly not easy, but it’s definitely doable. Artists already have something to begin with. You have a passion. A talent. A skill set. Something that others want to buy into.
But online there is no venue, no gallery, no agent selling your work for you.
The biggest problem when it comes to transitioning online is learning how to build up authentic relationships with potential buyers.
There is a way for artists to make it work without a monetary investment. But it does involve time, energy and patience. Because building up an engaged audience online that will buy from you is not an easy task. But, if done correctly, you will reap the long-term rewards.
The key to getting those long-term rewards is to follow a 4-step process that walks you through how to transition the creative genius that the world needs to see into a profitable online business.
You’re starting to get regular, solid traffic. Your email list numbers in the thousands, and it’s steadily growing. You launched explosively and overcame many of the problems that plague online start-ups. You’re gaining recognition as an expert in your niche, and other bloggers are starting to ask if they can guest post on your site.
Everything’s going well. Momentum is building.
Then you wake up one morning to find that your hosting service has taken your whole website offline. They’ve received a complaint from a copyright holder that a guest post on your site was stolen from someone else.
Your entire business has just been cut off at the knees.
You’ve got to get your site back up — and fast.
How did this happen? And how can you prevent it from ever happening again?