The Fierce Business Babe Podcast Ep 91: Three Things To Become More Profitable

In today’s episode I’ll be diving into a few tips on becoming more profitable! We will discuss some tools to set your business up for success; as well as some common tactics with customers to help accommodate them. We will navigate our way through easy steps to take to make your business thrive and your customers happy!

Three Things to Become More Profitable

By: Melissa Lin

Welcome back to the Fierce Business Babes podcast. There are so many new listeners and I want to say hello, welcome and thank you for hanging out with me and choosing to listen today. I started this podcast so that I could have a platform to dive even deeper into topics with you. When I started my first online business in 2014, I really utilized podcasts as I was still in my nine to five, which was more of a five to five, working twelve hour days, commuting over an hour and a half each way. And podcasts were a wonderful tool for me as I was getting started, and I'm hoping this is the same for you. So today I'm recording episode ninety one. Wow. We're almost to one hundred episodes. What should we do for episode one hundred? Something special! So almost to one hundred juicy business filled episodes.. So if you're new, you have plenty to catch up on. Today I'm diving into a topic that I feel is going to be very helpful for you because I want to help you make more money.

I want to help you become more profitable. I want to help you not make the mistakes I did when I first started. Things that were actually causing me to leave money on the table! And when I say money, I'm also meaning leaving the opportunity to work with more incredible clients and create more impact as well. So today i've jotted down three ways that you can become more profitable. And I cannot wait to dive into them with you. Are you ready?

Selling Daily

Let's move on to the first item. And I may or may not be adding in a bonus item at the end for you because I love just giving even more. The first item to become more profitable and your business is to sell daily. Yes. You get to be selling every single day of your business. And when we walk into the grocery stores, department stores, the malls, what do we see? Pre-COVID and post-COVID, what do we see? What do we feel? We see these stores literally selling everywhere. Every corner you look. Bam, they're selling something. Fruits, groceries, frozen pizzas at the grocery stores. And what do we think and how do we feel when we see this? Well, it's normal, right? I mean, we think, well, they're a business. Of course they're selling their product. That's not sleazy at all, it's totally normal. Yet there are so many online business owners that are afraid to sell themselves because they feel they're slimy for selling. They don't want to come across as greedy when in reality we are doing a disservice by not selling each day. If we aren't letting people know how we can support them, how we can guide them, how will they be able to solve the problem they're looking to solve? You have the solution.

We are being selfish by not letting them know about it. Does selling mean that you need to get on Instagram stories every single day and wave your hands all around saying, "hey, come buy this! I have this for you!" No, definitely not. There are so many different ways to sell so many different sales activities that you can be doing every single day. Connecting with those in your audience, for example, and letting them know about your offers. If we're only talking about our offers once a week, once every two weeks, once every three weeks, I can guarantee you that they don't know about your offer.

So connecting with those in your audience, letting them know about your offers, sharing your freebies, which then funnel into your offers, offering discovery calls, promoting your programs, and sending out an email about your offer. It is going to take anywhere from seven to ten times for somebody to see something before they go take action and purchase. So these are just a few of the many sales activities you can start to take action on today. But take one from that list and go and do it! Sell something! Go and talk to a hot lead. Go to your lead tracker, pick five. Warm or hot leads! Go and have a conversation with them today, you get to take action today and get out there and get selling.

Adding Up and Down Sells

Now, here is the second item. If you've started your online coaching or service based business, you most likely already have your signature core offer. If you don't, that's OK. I have past podcast episodes that help you with this. I have past podcast episodes that walk you through the ins and outs of how to actually create your first offer. So, go and take a peek at that. And then if you're actually looking for more; my coaching program, the fierce business academy, helps you do this. So if you're looking for guidance, support, video training, there's a direct link in the show, notes to the Academy page. If you're looking for that or send me a message on Instagram or Facebook and I can help answer any questions.

You have your core offer. Here's where we can add more profits in your business by adding an up sell or a down sell. So let's say that somebody gets on the phone with you for private coaching and they just aren't the right fit. Or maybe they really can't fit it into their budget at that time. That's OK. You can up sell or down sell them into either something up to better fit for them, or something that fits better with their budget. That's still gonna give them a quick win and get them prepared for your private coaching down the road. And this is part of what I like to call creating and expanding your product suite and creating a customer journey for your clients. So, for example, a hard core offer for a brand new business owner is the fierce business academy. Now, if somebody wants to start their business but isn't able to hop in, we have a few lower ticket courses they can get started with until they are ready for the academy.

Now, why does this help you? Adding in that up sell, adding in that down sell? This is going to help you serve more people. Instead of that person saying no and getting off the phone, resulting in zero sales for you, you can give them another option. It's not going to be as big of a sale. However, it's very likely they will come back and buy from you again. If you have one signature program right now that's amazing. What could you offer as a down sell? What could you offer as an up sell?

For example, let's say your core offer is private coaching and maybe you provide your students or clients with a course with your private coaching. A down sell could be the course without the coaching, support, and guidance. It could be part of that course or a smaller portion of that course. An example of an up sell could be you're selling a course and someone's looking for more guidance and support. You could offer some type of coaching with the course as an up sell, so it will be a higher investment.

Creating A Customer Journey

Now I want to go into the third item because it's going to go hand in hand with what we just talked about a few minutes ago with upsells and downsells. So this third item that I'm going to dive into is creating your customer journey for your business. I love talking about this because it's something that I see a lot of businesses lacking, especially in the online space. You have got to create a customer journey. Start to map this out and grab a big, blank piece of notebook paper and start to draw down like your customer journey. What is the lowest ticket thing you've got? What's the what are the mid tickets? What are the high tickets? Once Someone goes through one of your low tickets, what's the next step in their journey? What's going to take them to the next level and then what takes them to the next level after that? You want to create a customer journey for your clients so that they always have something to move up into!

Now, as I mentioned, goes hand in hand with the last item. We always want something available for your client to move into next. What's next in their journey? Do you have another container for them once they graduate from the current program they are in? What does that look like? So I will give you a quick breakdown of my business and the customer journey that we've created that are low level offers. We have a few courses to get people started. So our low level offers give our clients a great start in their business. We have a few courses to help them get started, such as Hot Leads Machine, Sell Like a Sales Queen is another one. We have a boot camp. I have workshops that I hold. And as our clients complete some of those, they naturally move into our mid level offers, such as the Fierce Business Academy to help them scale the five key months in their business. Or my launching program, Five Figure Launch, to help create 10K and above and beyond launches over and over. Literally, step by step.

And so that is that customer journey for the beginner business owners, mid-level business owners. Then our higher level offers include mastermind's private coaching. And we're adding a few more into each of these levels this year. So definitely keep your eyeballs open. Get ready for those. Yes, they are coming.

You're probably asking yourself. But, Melissa, where do I pitch to my current clients? What does this actually look like? I'm giving you the 411, all the behind the scenes right now. So for those that go through our courses, they will usually receive an email from us or have some type of communication from me once they've gone through a certain amount, of course, or once they've hit a certain time frame. So we'll send an email or they'll receive communication. Maybe I'm chatting with them in the DM's and that is where we'll talk about that next level for them and helping them go into that next level as long as that's where they're wanting to go.

So, of course, we get into their goals, you know what's next for them, because we want to make sure that it's also the right fit for them. So you're probably asking, as I said, like, where do I do this? What does this look like now? You can pitch to your current clients, and I definitely recommend doing this before the time has ended. I usually recommend three quarters the way through.

So what this could look like is maybe you've got a group coaching program that you're running. You could pitch to the entire group on a call like on week nine or 10 of your program out of twelve weeks.

If this is a private client, you can have that conversation on a private call or have some type of wrap up call that you have together. And anytime that we do this, we want it to be a no-brainer for them to sign up. So you get to add bonuses, you get to add slight discounts, something to make it a total no-brainer for them. So it is always, always doing this. Having that customer journey, letting them know and not everyone's going to be ready for that next spot in your journey. That's okay, they will be at some point. So once you've completed one of your programs, follow back up with them, see how life is, what's going on in their life. How are things going with whatever it is you help them with their transformation? Where are they at? Where are they wanting to go four weeks after they finished working with you?

Maybe three months, maybe six months or whatever that time frame looks like for you. You get to do that. And so always be keeping in touch.

Bonus Tip

And this is going to go into a little bonus tip. So far in this episode, we've discussed how adding an upsell or downsell is beneficial to your business. How you are going to create a customer journey? Then to be selling daily in your business. Now, I want to add in a special bonus item to help you create more profits. I kind of mentioned it a minute or two ago, and it's following up with potential clients or even past clients.

Follow up, follow up, follow up.

This is where you see so many people fall short and leave money on the table by not following up. Now, a lot of us can create that story of, "well, I don't want to be too buggy. If they wanted to buy, they would have responded to me right away. If they wanted to buy, they could have clicked that link in my bio." Here's your reminder that the fortune is in the follow up, literally. You were leaving money on the table by not following up.

Are you ready to hear why? Because life happens. Your message could have been accidentally opened. Maybe they were in the middle of typing out a caption for Instagram. They thought to themselves, "oh, we'll get back to her in a minute" and they just completely forgot. Maybe they're sending their mom a text message or something and they just simply forgot we're human. It happens.

Maybe these are your Instagram stories and thought to themselves "Well, you know, I took too long to respond. All of her spots are probably full now" and they just end up not reaching back out to you at all because of that story they've created in their heads. They may have a few more questions about your program but feel like they don't want to bug you. So at the end of the day, they end up not asking at all.

Follow up. Follow up. Follow up. Follow up. Follow up.

So now you've got those three items plus bonus, follow up. So four items that you get to add into your business to create more profits and make sure that you're not leaving money on the table. You already have a homework assignment. You already get to get out there and talk to five of your warm or hot leads. Now, I am so excited because you get to generate more profits. I would love to hear your biggest take away. Send me a message on Instagram. Let me know how you love the episode. Take a screenshot. Share it everywhere and we'll see you in the next episode.

Topics we cover include:

When to sell your business or service
Various sales activities
Creating and expanding your product suite
Creating the customers journey
A special bonus tip

And so much more!

Times to check out:

(7:10) When and where to sell your services

(8:42) Sales activity suggestions

(10:45) Expanding your business suite

(11:53) Benefits of upselling and downselling

(13:27) The customer journey

(18:26) Bonus tip! :)

GET IN TOUCH WITH MELISSA:

Hot Leads Machine (new course):

https://www.themelissalin.com/hotleadsmachine

Are you ready to take your online coaching business to the NEXT level? Have you been wanting to start coaching, finally start making a full time income doing what you love? The Fierce Business Academy might be the right fit for you! Head to the link below for more details and to hop on the waitlist!

The Fierce Business Academy:

https://www.themelissalin.com/academy

The Caption Capsule

https://www.themelissalin.com/caption-capsule

Promo Code: PODCAST to save $$$ on The Caption Capsule!

Sell Like A Sales Queen Crash Course:

https://themelissalin.lpages.co/sell-like-a-sales-queen/

Five Figure Launch:

https://themelissalin.lpages.co/five-figure-launch

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