Getting Your Customers To Enjoy Spending Their Money With You
By: Sandi Krakowski
A question came up in the middle of the first day at our live event that I was just waiting for. The subject of money. Your customer's money. This business owner was struggling to maintain her value in the marketplace and wanted advice on how to do deal with client's who don't want to pay for anything or always want a deal. Low-balling is what many business owners call it.
This is not the first time I've been asked this question. Having sold multiple millions of dollars in products through the last 14 years, collecting money from my clients has quite honestly never, ever been a problem for me. Believing they don't have any money and I should just give my products or service away has also never been something I'm tempted to do. I just don't believe it. I've seen money pop out of no where, extra work come, increased resources pop out of hidden places and more. As a matter of fact several people were at this event in Indianapolis, IN with stories such as this- being given free plane tickets, finances increasing 5 days before the event, and big commission checks that were not expected arriving just a week in advance.
Do you struggle with the topic of money?
Before you think I am heartless or insensitive please know that I've given away products, offered deep discounts with an honest heart and understand totally that it can be very hard for some people to find or create extra cash. But this article is about the 98% out there, the majority of customers.
These customers shop regularly online. Studies show from merchant account activity in the month of December 2009 that more than $ 42 BILLION dollars were spent online during what was called "The Second Great Recession". People had enough money for gifts, goodies at QVC and the jeans they previously couldn't afford. Whether it was the guilt of the holiday, an instant holiday loan or other hidden resources, I've seen it happen every single December that I've been in business.
People love to buy. Write that down. People love to buy things and they absolutely enjoy and even crave the rush and satisfaction that comes from purchasing things….and they love spending money! How do I know? Because banks, governmental agencies and merchant account reports show it to be true. The data doesn't lie.
If you are struggling to get your customers to pay full price or to spend money regularly with your company it really isn't an issue of whether or not anyone has the money. It's a bigger issue.
Sometimes people will share with me that they've 'done all the right things' in setting up their business and they 'have the results' and they swear they 'have the testimonials' but for some peculiar reason they just can't seem to monetize their site and regular income isn't coming in.
I always ask to see the data. Having 'results' with 12 customers and stories from 9 isn't enough. It's not even demonstration of credible skill or a viable business yet. That has to be multiplied several times over until 'proof' of a profitable business establishment can be shown. In these kind of situations I always tell my clients to "GO get more!"
When we built our freelance marketing and copywriting firm it wasn't until we had served more than 40 clients that we began to really see a waiting list, momentum and the kind of income that made me super excited. Those 40 results and clients were our proving ground. This was the demonstration of credibility and turned into proof that I could create a result repeatedly.
But what if you think you have the skill, the small results, and the great products that people need, or services, and you still are not seeing the kind of cash flow you want to?
If you are constantly hearing, "I just don't have the money, I really can't afford that, that is totally outside of my reach" the issue isn't money. It's really not.
The reflection you see in your business is a reflection of yourself. And if you know without a shadow of a doubt that you have an amazing product because others are selling it, people are already making money with it, a mentor has told you it's an amazing product or service and you still can't make money with it- I'd get some help if I were you.
Most of, if not all the sticking points I've experienced in business when cash flow wasn't that great had NOTHING to do with the recession.
One of the biggest memories of this I've seen is when the CEO loses heart, lets go of the vision, buys into the delusion that he or she can just walk away from their business and it will run on it's own. Rather than looking at themselves first and the fact that they aren't marketing like they used to they find some economic excuse for the profits lost. Never mind their own issue, ego and problems, they end up blaming the economy, the 'recession' and the current financial status of our country.
Let me make it very clear- it just ain't so. No way. If it were than everyone would be seeing it. On the contrary, I've seen online, in ecommerce, marketing, copywriting, direct response marketing world, it's not true at all. Those who are struggling financially have simply bought into the agenda. It's not easy to stay immune from it! Showing up on every magazine stand, news station and water cooler gossip are the programmed beliefs and opinions of people who have bought into the marketing campaign of the federal government to shut everyone's mind off.
We used to make our home in Elkhart County, IN. This is the city where President Obama came to the RV industry to give some hope and some help. Here I was, quietly in my home making a huge income as a copywriter while ONE niche, one industry was falling around me. The President of the United States came to pay his respects like the Vice President himself had perished.
Please don't think I'm heartless but here's something to consider- I didn't see in that county restaurants doing less business, department stores hurting and other industries that could have crashed. They didn't. Here I was thinking everyone was huddling around their generator waiting for the end of the world and they weren't. They were at the movies, going out to dinner and shopping at Target just like they always did!
Did people lose a lot during this crash of the RV industry? Yes, they sure did! But my point is this- people kept spending money like they always do in many industries and niches in the same town. As a matter of fact because many people enjoy spending money when discouraged and depressed, many vendors and storefronts saw huge increases.
Take note of this.
The problem that most customer's are having is not an economic issue, rather it's an issue of making a decision.
Yes, most people struggle with making a decision more than they do spending money. At our live event in Indy we elaborated on this in great detail. Showing specifically that we train our customer's what to expect it became apparent to me that many company owners in the room were giving far too much away.
Laying out the strategy that allows you to give away things of great value, offer competitive prices but never destroy your own cash flow was a huge breakthrough for more than half of the room. People left that day realizing that they themselves had issues with money and buying into the agenda. Many in that room had previously had 'financial' struggles and were now seeing money flow. Some had realized they needed to spend money more wisely so they could continue bringing in cash flow.
Decision making is the bigger concern when it comes to sales. Your customer's need help making a decision. You have to write copy that sells. Period. You must learn the fine art of helping them make a decision. If you don't help them make a decision QVC will gladly do so with a Value 3-Part Payment Plan. Because you see, people love to spend and they simply adore buying things that make them feel valued, important and good inside.
Work through your own issues with money. Be very honest with yourself. Do YOU struggle to invest into your companies future? Do you have a hard time when it comes to buying the burger for $ 12.50 and the one that is $ 24.95? Do you still hear your Grandmother's voice in your head when it comes to buying something of value, "Listen here child, we're all struggling so don't buy yourself a thing. That's what the rich and famous do and we're not rich or famous" ?
Money issues in your customers can be a symptom of money issues in the mindset and belief system of the owner of the business. Remember, when all other factors have been considered, if you are repeatedly being haggled and low-balled or your customers seem to love being with you, love your products and services but never seem to have the money, it could be something you have to work on first.
To hear more on what we taught regarding money, mindset and tripling your profits, click here.
Sandi Krakowski spent 6 years in the Direct Sales industry building a $ 4 million dollar company that was run 100% online through eCommerce, building large sales forces in network marketing and home business industries. After earning $ 1.8 million dollars in a home based business market in 31 months, she went onto build a 7-figure marketing and copywriting firm in just 20 months. Currently she runs one of the fastest growing training venues teaching beginners to experts how to really use the internet to it's fullest capacity.
