Wednesday, May 4, 2011

The Client Cloning Formula

Let me pull back the curtain and share with you a business-building concept that, up until now, I have only given to paying clients.

I call it The Client Cloning FormulaTM, and it's the basis for my whole company, Client Cloning Systems.

It's a mathematical answer to this vexing question: How do you get more clients like your best clients?

The formula is this: EE x S + R + R = Cloned Clients

Now, let me explain the four parts to The Client Cloning Formula ...

1) EE x S

This stands for "Expectations Exceeded, multiplied by Speed."

What does it mean?

It's not enough to meet your clients' expectations for performance or, heaven forbid, fail to meet them. Today, with worldwide competition only a few clicks away on Google, and with client reviews about your business popping up every day on Yelp, Twitter, Angie's List, and other sites, you must exceed expectations if you hope to stay in business for more than 6 months.

Not only that, but you have to exceed expectations as fast as possible. Speed thrills -- and it pays you back, in the form of delighted clients who tell their friends.

That's why speed is, in military terms, a force multiplier -- it increases the level of happiness you deliver for clients several times over.

2) EE x S + R

This first letter R stands for "Re-sales."

What does it mean?

It's not enough to sell to clients one time. Anyone can do that -- just offer a 99% off coupon and voila! You've made a sale. But that's no way to build a business.

All things equal, you will rarely make a ton of net profit on the first sale, once you figure in acquisition costs -- the time and money you spent to get the prospect in the door and turn them into a client.

The real money is in the second, third, and subsequent sales. So plan accordingly.

Note: if you can upsell the client on their first purchase ("Would you like fries with that?") so much the better.

3) EE x S + R + R

This second letter R stands for "Referrals."

Yes, it's nice to exceed expectations fast for clients, and resell them, but you're still under-performing if your clients aren't serving as a volunteer sales force -- and referring more new clients to you.

That's why it's critical to systematically ask for and reward referrals.

You can never, ever, ever, ever expect referrals to come in naturally, on their own. That's like expecting your kids to cut the grass on their own. Ha! Good luck with that.

Instead, you should regularly ask for referrals, then reward this behavior with gifts, cash, discounts, or something else that's appropriate and tangible -- just like getting your kids to cut the grass.

4) EE x S + R + R = Cloned Clients

Cloned Clients are those clients who buy again and refer others. They are the most profitable kind, the kind you want more of and would clone, if you could.

So there you have it, The Client Cloning FormulaTM -- a simple equation to help you grow your business faster and more profitably, with minimal effort: EE x S + R + R = Cloned Clients

You'll find more ideas like these in my Free Report, Guaranteed Marketing.

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