This week's key takeaway:
Get your customers spending more - with Ben Fewtrell and David Carlin
Episode intro:
It sounds obvious, but if you can crack the code of how your customers can spend more, you'll be onto a winner! Think in terms of 'cost of sale'. It's so much more efficient for your business to sell more to one person than to sell less to more people. You'll save on marketing and sales resources, and while you're at it, you'll make more money... win win!
By the end of this episode, Ben and David will give you actionable advice on how to increase the average spend of your customer without upsetting them. In fact, if you get it right, your customer will spend more money but feel like they're getting a better service.
In this week's episode you will learn:
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The importance of total revenue
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Why you need to know the average spend of your customers
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How do you find the number of customers to derive the average?
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The art of upselling
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How your customer spending figures can drive KPIs
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How to find the right package deals for your business
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Decoy pricing
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How to improve your cost per sale
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How customer service can drive sales
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When to put your prices up
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When to stop discounting
Show links:
