Looking for ways to stay profitable while gaining new customers, and keeping existing ones? Here are Harv Eker’s successful business tips for diversifying your product offering two product lines: products to get them in and products to keep them there.
You mean there’s two sides of marketing?? This is probably news to a lot of people. Most business people, if they’re thinking about it at all, think that marketing is mostly compromised of getting people’s initial interest. While that’s obviously a huge part of the success-building game.
Getting customers in the door the first time is the costliest and most time-consuming part of a company’s life. In fact, it costs five times more to gain a new customer than to keep the one you already have; another crucial aspect many businesses fail at. Offering one product to a new customer is great, but not offering more, different, or ever-newer products keeps them as one time customer.
Diversify Your Product Line To Increase Your Business and Succeed
Unsuccessful businesses fail to follow up with additional products or services. They don’t have an array of complementary items to offer.
Successful businesses that do have a variety of offerings create perpetually-new customers by delivering ever more products and services to the same people, while still gaining new customers.
This is the only way to build more revenue and gain their trust, and the next most important thing you can capture from a customer after you’ve gotten their attention and interest is trust.
In this age of ever-increasing skepticism and cynicism, trust is hard to come by. If people don’t trust you, they’re less likely to listen to you, and even less likely to spend their money on you.
Stop yourself from becoming too bogged down and overwhelmed with these three strategies, and diversify your product line!
When customers return, they developed a trust with you. Create a circle of trust where you deliver with satisfaction. Satisfaction is where the money’s at.
These customers are providing your future wealth. You’ll make some money from one-time customers, but obviously not as much as repeat customers.
— T. Harv Eker (@T_Harv_Eker) June 15, 2017
Offer Products To Get Them In and Products To Keep Them There
So one end of your marketing strategy is to get first-timers in the door, and the other end is to have a line-up of products and services that you can offer once they’re in.
Two marketing systems, two product lines.
One gets them into the circle; the other keeps them in. You almost have to treat these two ends as if you’re running two separate but similar businesses. That’s how separate they should be.
How To Apply This Concept:
Your exercise is to set a line-up of front end and back end products and services for a business you have now or, a business you’d like to start in the future.
Creativity and imagination are your allies. If you can’t think of products or services, make them up! Innovations happen by creative people figuring out how to make something that exists even better, or by being imaginative enough to anticipate future wants and needs and creating something that may not even exist now.
Also think; “What am I absolutely great at that I could duplicate beyond me, over and over again?”
Look at what your clients want and how you can support them. If you execute this right, you’ll go from a decent income to real wealth relatively fast. The headaches are in the front end, but the money comes back!
Harv’s fitness company went from zero to millions and millions of dollars in revenue in under 2.5 years because he followed specific principles and unique marketing strategies.
He reveals a lot of what he used in his 500 Million Dollar Secret web class, and he’d like to invite you to join him as his guest on one of his upcoming calls.
So now it’s your turn! Have you set up both ends of your marketing? If so, share with us your experiences, success, and struggles. Do you have a product idea? How did you come up with it? Share with us here so others who are stuck at this stage can learn from you. This online blog community is for you, so make sure you take advantage of it!