I recently visited a zoo with my family. If you have ever visited the zoo or most other amusement type facilities you know they have machines throughout the campus that allow you to turn an ordinary penny into a finely pressed work of art. Isn’t that against the law? I digress.
So naturally my kids are drawn to this machine. Even my youngest son who barely speaks was drawn to the “turn the crank” machine. The marketing worked and we were sucked into this transforming machine with the high hopes of receiving a newly created smashed penny—with the added value of a picture of gorilla.
There were several elements of the machine that grabbed my attention.
First, it had a big handle that you crank so it gets the customer involved.
Second, you can see into the machine and identify how the gears fit together and slowly crank over your real penny and turn it into a new creation.
Finally, it has a small opening at the bottom where the newly created penny clangs around upon completion—letting you know—and those around–that you had received your new creation. It becomes a full experience, and I become fifty one cents lighter.
As I look at my business and any brick and mortar business—yours included—I realize that businesses can be a machine just like this penny machine and they can have the same hypnotizing effect on customers. In the end, it’s a profitable venture for the company and the customer receives value they expected and everyone leaves happy.
So how can your business be transformed into a Success & Profits Machine?
How can your business generate a ton of new leads that all turn into profitable happy customers?
I have 5 gears that I think you can easily add or improve in your business to make it a better machine for your customers.
Each gear can be tweaked in your business to ensure that you are getting the most new leads, making their experience unique and captivating, and then turning them into life long profitable customers.
My latest book “Geared for Growth: A Parable About Transforming Your Business Into A Success And Profits Machine” can be found on Amazon by clicking HERE.
But I’ll show you how you can start thinking of your business like a machine by sharing with you the 5 gears now:
First Gear: Conversation
Every experience with a customer starts with a conversation of some type. It might be your website, it might be a phone call, it might be talking to a stranger on the street, or it could be having someone walk into your business. The conversation is always happening. You have to be sure your conversation is happening right and leading them along the path of becoming a customer.
Second Gear: Conversion
Once someone learns about your company your goal is to get them to become a customer. The goal of that transaction is to maximize the opportunity. What is their end goal and how can you help them achieve that for the highest possible value to your company and to them. It might involve pricing, upsells, packages, or premium offers.
Third Gear: Captivation
You have to captivate your new customers. Our world is loaded with average or below average service. It’s driving more people to buy online and creating more kiosks and auto orders. How can you stand out in that crowded marketplace of averageness? Say thank you, give them something extra, find a way to make them say “wow.”
Fourth Gear: Cultivation
Once they are a customer, what do you do with them? I send you this newsletter. I want to stay relevant and in front of you. You can cultivate a customer to want to use you as often as possible. Stay in front of them, make offers, be entertaining and informative. Cultivate your customers.
Fifth Gear: Cash Flow
Nothing is free. Cash is still king. You have to monitor your cash flow. Get deposits, monitor accounts receivable, know your current cash balance and be sure your whole team understands the importance of cash in a business
So, how are you using these 5 Gears?
Can you start tweaking each of these gears in your business to see added success?
I’ll discuss each in more detail in coming blog entries. Until then, start transforming your business into a success and profits machine.