Somerset Area Accountant Explains A Quick (and Easy) Revenue Booster Strategy for Local Businesses

Somerset Area Accountant Explains A Quick (and Easy) Revenue Booster Strategy for Local Businesses

July 2 , 2012

I’m sure that you, like me, have been watching the Olympics. So many life and business lessons playing out right now in London, applicable to us as Somerset Area-area business owners.

Firstly, I was amazed at how quickly they were able to transform the arena at the Opening Ceremonies, from one section of the show to the next — which reminded me that business transformation CAN happen rapidly, especially with the right team in your corner.

Then, of course, there was the Phelps-Lochte duel. It all looked pretty rough for Phelps in the very beginning … but he sure does finish strong — which reminds me that once you know how to win, it’s that much easier to keep winning. Breaking through to that first place of real profitability in your business should offer you a template for continuing to win. It’s when you stop doing those first things which made you successful, that things have fallen apart for businesses I’ve watched.

I’m glad that we’re into the track & field events … I don’t really ever watch track, except for during the Olympics, but I find it oddly compelling, don’t you?

Speaking of oddly compelling … let me know what you think of this week’s Note.

Somerset Area Accountant Explains A Quick (and Easy) Revenue Booster Strategy for Local Businesses
People always say (the smart ones, at least) that your existing clients are the easiest people to sell additional services to.

And if a referral customer is the second easiest client to sell, then whom do you think is the third easiest client to get? The answer is your “lost clients.”

Again, most businesses totally ignore the clients that have NOT done business with them in several years, when in fact, these people are infinitely easier to sell than any new client – if you know how.

I’ve personally been “re-activated” as a customer by businesses who understand this dynamic, address me specifically as a “lost” customer and offer me something tangible as an incentive to win back my business.

This can be even more powerful in the B2B world, if you do it properly.

With all of the sophisticated database programs out there, it’s well worth it to add this tactic to your arsenal. And, even better, turn it into a replicable system. (As you no doubt know, I do like systems!)

Yes, this does require planning and organization…but it’s worth it.  The limits of the success of this program are the ones you place on it.