Hey guys Lindon Talbot here, CEO of TLC Media group and like I’ve, said before we specialize in helping local businesses like yours, grow. Okay. Today, this is the second video in the short series we’re doing and we’re on the second A in the AAR method.
The last video was all about acquisition, acquiring a new customer so from acquisition we go to ascension. Now this is once you have the customer now you have to escalate the value of that customer by selling them more of what you have to offer.
You have to sell more of what you’ve got, conversion rates for this part of the method is 60% to 70%. This is massive guys now what are you doing in your business to sell more of your products or services? What are you doing to make more money from the customers you already have, now once you have a customer, this part should be the easiest, getting them to spend more with you, because they’re, starting to know, like and trust you.
This is how and why they will spend more with you, now when we finished the last video I mentioned, you need to give them a good experience, not only a good experience, but a great experience do this chances are they’ll come back again, get them back three times and you’ve got a customer for life. This is where the money is. We’ll talk more about this in the third video.
Now, as I said, the second day, ascension is all about sending them up the ladder.
Depending what you sell you start them on something of a low value, then you up-sell them cross-sell them down-sell them, do whatever you have to do to get them to spend more with you.
Say you’re, a restaurant, you want them to buy the more expensive wine, a dessert, coffee., another drink, one way you can do this is get your wait staff when they take the main course over to them and say “don’t forget to leave some room for your dessert the chocolate fudge in here is to die for”.
Get them to talk to them like it’s, a secret. Now, most of the time the wait staff will say, “Would you like to see the dessert menu” at the time when they finish their main and most will say, Oh god, i can’t fit any more in, but you have to say this as you serve the main they’ll think about the dessert or maybe another dessert they prefer, and this will boost your chances of up-selling them. If they still say no, then obviously you immediately cross-sell them with, say a coffee or another drink. You could also down-sell them say if they don’t want a dessert because they’re too full say. “Well, you could try and share, you could share it with somebody else at the table. Think in your business what you can do to up-sell, down-sell and cross-sell to get the average ticket spend up.
You have a 60% to 70% success rate with this, and this is all extra profit. You’ve got to start selling more stuff to the customer that you have in front of you.
Now the last video is how to keep that customer and turn them into a lifer.
I’ll, see you in the next one guys