These days everywhere you look you can find sales and marketing advice. The purpose of this article is to boil some of that information down and provide you with five practical tools and tactics that you can use in your business today to help you make more money. These tactics apply to you whether you are a business owner, entrepreneur or freelancer. The following tactics can be used by you or shared with your team to help your business grow.
1. Implement Tiered Pricing
Your business is selling itself short if it is just offering one price or custom pricing only for its services. By offering tiered pricing for your services you can open the door to greater financial opportunities for your business. In your pricing your want to include:
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A basic option
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A middle option (that’s just a little bit above the lower option)
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A VIP or premium option.
Giving customers options will make them more likely to stay with your business because they have options they can consider to meet their needs. Not only should you tier your pricing but you should also have a clear distinction of products or services offered in each tier.
Anchor Your Pricing
The point here is not necessarily to try to get everyone to buy the most expensive tier but to make the lower tiers seem like a great deal through comparison. This concept is known as anchoring.
The two biggest benefits of anchoring are:
- The VIP pricing is so astronomically big that it makes your other offerings look like a steal.
- Every once in a while, you may be surprised to have a customer or client that only wants the best of the best and purchases your VIP tier.
The purpose of anchoring is to make your standard offerings appear more affordable and occasionally attract clients who want the best of the best. Look at Allstate insurance and how their tiered pricing led to astronomical sales. They saw success because each upgrade in car insurance added more value, encouraging customers to spend more. By implementing tiered pricing, you provide customers with choices and potentially increase your average transaction value.
2. Reevaluate Your Onboarding and Offboarding Processes
Onboarding is the first experience that your customers or your clients have as soon as they walk through the door or after they purchase your product. Make your onboarding process stand out, by creating engaging and delightful onboarding experience using tools like Typeform or Gravity Forms for visually appealing questionnaires.
Additionally, make your discovery calls more interactive by sharing your screen and using scripts to guide the conversation. Onboarding should be exciting and should eliminate any buyer’s remorse. The same goes for offboarding – ensure it leaves a positive lasting impression, as this can lead to repeat business and referrals. A proven process, whether you’re in B2B or B2C, differentiates you from competitors by showcasing how you deliver your services uniquely and efficiently.
3. Create a Proven Process
Having a proven process is a powerful differentiator. By having a structure and tools to help clients understand or connect with your business in a way they are not with other companies will help you stand apart. Having a consistent process and structure increases customer trust in your brand. It is how you deliver your product and service that will ultimately set you apart from competitors.
Become a Valued Partner
At Big Red Jelly, we emphasize our proven processes across branding, building, and growing businesses. By showcasing our unique methodology and philosophy, we immediately differentiate ourselves from other agencies. A clear, visual representation of your process can elevate you from being just another service provider to a valued partner.
4. Get Creative with Revenue Streams
Diversifying your revenue streams can significantly boost your business. For instance, we recently advised a tutoring company to explore additional revenue options beyond hourly sessions. They could offer an affordable subscription service for access to online tutoring materials or host group sessions and webinars.
Do not be afraid to get creative. That some time to evaluate ways your business might be able to bring in recurring revenue. A recurring revenue model when successfully implemented can help your business capitalize on financial opportunities and lead to future growth. While it may not immediately be intuitive, taking the time to incorporate it in some form will only help your business in the long run.
5. Be Encouraging of Thought Leadership and Content Creation
Every person in your business should be encouraged to have a personal brand and encouraged to use that brand to contribute to your business thought leadership. At Big Red Jelly, all team members – from marketing to sales to leadership – are required to produce original content. This not only improves our online presence but also establishes our team as experts in their respective fields.
Anyone Can Create Content
Google values expert-first content, and having your team members share their knowledge and experiences can significantly enhance your brand’s credibility. Encourage your sales team, product development team, and leadership to share insights, success stories, and industry knowledge. This approach will boost your marketing efforts, improve conversion rates, expand networks, and generate more referrals.
To Conclude
These five practical sales and marketing tactics – tiered pricing, improved onboarding and offboarding, proven processes, creative revenue streams, and thought leadership – can immediately impact your business. At Big Red Jelly, we believe in actionable strategies that drive results. Implement these tips, and you’ll see significant improvements in your revenue and overall business growth. Schedule a Free 30 Minute Consultation today so you can see how your marketing can 3x your revenue!
Written by Isa Patey
