Christo: Hi there! In this tip, I want to share the answer to a common question that keeps coming up: How do I get higher returns from my marketing expense? So one way to do this can be a little shift on your thinking; think about how you can maximise every sale because when you maximise a sale, youâve then got a higher return like you increase the average sale, youâve then got a higher return from the marketing activity that got them there in the first place. So one way to make our marketing work better is actually to make more sales, like generate a bigger sales amount, a bigger volume, like increase the average sale. If you sell for $100, sell for $120, and that way youâve suddenly made enough money to maybe cover that advertising expense. And once your advertising expense is covered and youâre still making a profit, then you can increase the budget, you increase the advertising spend. So itâs always something we want to be looking at is actually what happens after the sale to increase that average sale amount. So a couple of things to keep in mind is if anyoneâs buying anything from you at all right now, keep in mind are there~ upsell can sound a bit like a cheesy wordâlike, âWould you like fries with that?â itâs like youâre trying to like squeeze people for more money, but to put it in a nicer way, what else do you have that they could be interested in? Let them know what else you have. Like when you purchase something on some websites and it says, âPeople who bought this were also interested in this, this, and thisâŠâ you know, make sure that no matter what anyone buys, they see the other things because the reality is, as business owners we often think that our customers know everything we sell, or theyâre going to look all through your website. But think about itâwhen you are a customer, when youâre buying something, you usually come into a business, you get the thing you want, you get out. You donât go browsing through all the products pages and services pages and seeing everything else they offer. So it doesnât matter if you sell a product or service make sure you show when someoneâs buying something, weâve got to think of ways to show them other stuff you sell it could be as simple as send a âthank you for your purchaseâ email and âby the way here are three other product lines or three other services, or, something we offer that you might be interested in as wellâ to increase that average sale. So then if you get that extra sale tacked on to the original sale, suddenly thatâs come at zero extra marketing spend and usually zero extra effort as well because often if sometimes for you a sale might take a bit of back and forth, or a bit of conversation and that additional sale comes without all of that extra work. Another thing to do after the sale is there should be a process to ask for referrals, so if you can generate a customer who buys something, if they can share your products or services with someone else and that generates an additional sale, thatâs still revenue coming from that initial marketing activity that got the first customer there in the first place. So it increases the results from that marketing activity once again. And that could be another email, it could be as simple as you know, âI hope youâre loving our products and services as much as we do; if you know anybody else who would benefit from these products or services, please forward this email on, weâll look after them like a VIP as a friend of yours, or, if you can give them a â$20 voucher by forwarding this emailâ, or whatever works, but the key is: ask for referrals. Another thing you can include after a sale, obviously to help your credibility, is to ask for a review. You could link to Google reviews for your own business so people can leave a review, or on Facebook, or wherever you collect your reviews, but yes, we want to be thinking about increasing the average sale amount to increase our return from our marketing expenses. So I trust youâve got some tips out of this one. Even if you think youâre a bit of a ninja at this itâs worth going back to your products and services and just having a look at your process. because I can guarantee no matter how long youâve been in business, and how good youâre doing at it you can always make it better. You can always come up with better ways. It could be a personal video after someone purchases that says, âHey Johnny, thanks for your purchase! Here are some other things we offerâ, so there are always ways we can make it better and any questions, get in touch with the Basic Bananas team. Look forward to hearing from you soon!
