As someone using iSpionage (or thinking about it), you’re probably spending money on paid traffic. And that’s a good thing! A paid marketing funnel is the most stable, scalable, and reliable way to grow any business.
The problem is, most campaigns are simply not profitable enough. Since they’re not profitable enough, it puts a tight squeeze on your cash flow, making it harder to scale.
Today, we’re going to fix that problem.
In this article I’m going to show you a strategy you can use to double the overall profit per customer or client you’re seeing right now.
(Note: From here on out, I’ll refer to both customers and clients as clients to keep it simple.)
Better yet, it can be added to nearly any business. And in many cases (not all), you can get this strategy implemented typically within 7-14 days (based on a handful of different factors).
To start, let’s take a look into the mindset of your client.
The Breakdown of Your Clients
If you dig deep and analyze your clients, you’ll find a very interesting phenomenon.
- 80% of them will be “regular” clients.
- 20% of them will be open to spending MUCH more money with you.
As a quick side note, you’ll also find this phenomenon in every area of your business. 80% of your ROI will come from 20% of your keywords. 80% of your JV success will come from 20% of your JV’s. 80% of your complains/problems will come from 20% of your clients.
Today we’re going to focus on the 20% because that’s where the most revenue, leverage, and growth comes from.
These are your hyper responsive buyers. I’ve found that this amazing segment of buyers are typically willing to spend between 4x to 10x the money they’ve already spent, on something at a higher level than you’re giving them right now.
Here’s How You Target Them
Once you truly understand this principle, it’s impossible not to focus all your effort on putting something in place to leverage it because not doing so would waste an enormous opportunity.
Let your competitors worry about generating the most amount of customers, which is where the hardest work and the least profit is.
You’ll focus on finding and selling your hyper-responsive customers, which is the lowest hanging fruit and by far the most profitable.
Plus it gives you extra cash to put back into lead generation, which in turn puts this entire cycle on full blast.
The problem, of course, is finding out who they are.
You Can Do This Through One to Three Methods (I Prefer All Three)
Option #1: Surveys
When I work with clients, this is one of the first things we do. We set up simple surveys asking a few key questions about what major problems their clients are having, why they want to solve those problems, and what solutions they’re already looking for.
Option #2: Client Data Mining
Another method is simply looking through your sales records and sifting out the people who buy everything you put out. Don’t you think that’s a pretty clear indicator that they’re raving fans, and would be MUCH more open to anything else you can help them with?
Option #3: Phone Calls
This is similar to #1, but gets much better results. What you do is simple. Find 10 clients who’ve spent the most money with you. Call them up and talk to them about what’s going on in their life, why they resonate with you so much, what challenges they’re currently having and how big of a pain point those challenges are. The goal is to find out what they REALLY want from you.
These are the types of things we’re doing with our clients and getting fantastic results. YES, it’s hard work. But it’s worth it!
Doing all three will get you the best results. Set up the survey first and run it to your list. Then as it’s going, start on #2. When you’ve collected 10 names, start on #3.
So What Can You Sell Them?
What you’re doing here is getting crystal clear on every aspect of what you do and who you sell it to. Since this is a high-level offer, you can’t give a general solution and expect to get paid 5-10x what you’re currently charging.
It has to be extremely specific in terms of who you’re helping, what problem you’re solving for them and how you’ll do it.
In other words…
You AREN’T helping people setup traffic campaigns…
You’re helping them with a done-for-you Facebook campaign that brings them in an additional $20,000 per month, guaranteed, by adding a new revenue stream into their business.
You AREN’T selling a coaching program showing people how to lose weight…
You’re helping Mom’s over 40 lose a minimum of 15 pounds by re-balancing their hormones and removing inflammation.
See the difference?
Remember the big three…
- Who you’re helping…
- What problem you’re solving…
- The unique process for solving that problem…
And keeping in line with “3’s”, let me give you…
Three Examples From Three Different Industries
In order to make this really clear for you, I’d like to give you three different examples from three completely different industries. Then I’ll point out the very obvious theme between the three of them.
That said, here is how to start thinking about this…
The Service Based Industry
Most service professionals go through the same boring process. Someone gets in touch with them on their website. They then setup a meeting to get more information. Next, they send a proposal, and it either gets accepted or it doesn’t.
Not only is this ineffective, it’s a disservice to your client.
Think about it. Can you REALLY provide someone with the best solution after talking with them on the phone for 30 minutes? Of course not!
While this works fine for your smaller clients on a budget, it’s disastrous to people who can afford higher fees for better work.
And that’s why you should think about offering some type of PAID, in-person consultation. This is where you meet with them for an entire day to map out their strategy. THEN you send the proposal, after you’ve been with them for an entire day.
Not only will you get your clients better results because you put so much effort into the strategy, but you’ll get higher fees because you have an entire day to demonstrate your skill.
So how do you double your profit?
Let’s say your average client is worth $5,000 to you, and you get 10 of them every quarter. That’s $50,000 per quarter.
I know for a fact that if you position yourself correctly, you can sell two of them on a $30,000 package … assuming everything I discussed earlier is in place correctly.
That means you’ll sell eight $5,000 packages ($40,000 in revenue)… plus two $30,000 packages ($60,000 in revenue)… for a total of $100,000 per quarter.
You’ve just doubled your overall revenue.
(Note: I know these examples are achievable from personal experience.)
The Information Product Industry
Let’s say you want to build an information product business and you have a couple products. Let’s just say they are…
- Low End: $47
- Mid-Range: $147
- High-End: $499
Let’s also say that you’re driving 1,000 leads to your offers per month. 5% of your total leads then take your $47 offer, then 2.5% take your $147 offer, and 1% take your $499 offer.
That gives you the following numbers…
Low End: $47 * 50 = $2,350
Mid-Range: $147 * 25 = $3,675
High-End: $499 * 10 = $5,000 (rounded up)
That’s a total of $11,025. Great start. But how do we add another $11,000 per month to double it?
That’s actually really easy. You come out with some type of service with hands-on access to you, and guaranteed results.
Think you could sell 0.5% of your leads on that? I do! 0.5% of 1,000 leads is 5 people. If you’re selling a $2,200 program, 5 people gives you the extra $11,000.
You’ll easily find 5 people out of 1,000 who will pay $2,200 for guaranteed results.
Software Businesses
I’m absolutely astounded by how many times I’ve purchased software and have never been asked to purchase anything else.
What about a lifetime plan, or a two-year plan?
If you know your average customer stays with you for 3 months at $49/month (for a $150 lifetime customer value), and you get 33% to upgrade to a lifetime plan for $600, you double your revenue.
Here’s the math for every 10 customers…
Existing: 10 customers * $150 value = $1,500 per 10 customers
New: 6.6 customers * $150 value = $990 + 3.3 customers x $600 = $1,980 = $2,970 per 10 customers
We’re $30 off of doubling which is close enough.
As you can tell…
The Magic Is In The Math
The process here is fairly simple.
Know your numbers, figure out what it would take to double those numbers, and then add in some type of new product/service/offer (sometimes you need two) that you believe has a realistic chance of allowing you to hit those numbers.
Make sure your offers are targeted to a SPECIFIC segment of your audience, offering them a SPECIFIC solution, using a SPECIFIC process.
Then, it’s game over!
And that, my friend, is how you double your revenue by targeting the hyper responsive buyers in your marketplace.
So my next question is, what are YOU going to do with this information? Let me know if this article has opened your eyes and what your next plan of action is.
Author
Jeremy Reeves is a marketing funnel specialist who has produced over $40M in real-world results for his clients. His specialty is finding untapped profit centers and building automated marketing funnels to capitalize on those new revenue opportunities. Go here to learn about Jeremy’s results, clients, and how he can help you.
