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5 ways to get cashflow – FAST!

September 10, 2015

Sometimes you need to get some cash in the door quickly, and to do that you have to make sales happen fast.  Here are some proven ways you can get the ball rolling quickly and crank up your sales.

1.  Make an enticing offer to your existing clients or customers, with the aim of getting repeat business and add on sales.

If you own a dry cleaning business for example, you could offer customers a special deal on their next dry clean. It could be something like two shirts for the price of one. The result will be repeat business because you have provided something to entice that customer to come back to you (and you could promote this special to customers who normally don’t bring shirts in too). If you are a plumber you can offer say a special deal on replacing all their tap washers whenever you’re doing a job for a customer (you can promote this special offer to prospective customers as well).

2.  Make an offer to somebody else’s clients.

Look at your business and ask what other businesses would have clients or customers like yours. For example, a young woman who buys a phone today could well be looking for a pair of jeans tomorrow. If you sell jeans, go to the phone store and give them $20 vouchers redeemable in your store to give away to customers who buy a phone.

Explain to the other retailer that this enhances the deal they’re doing with their customer but it will also encourage that customer to go into your store. If they then give you vouchers for your customers to spend in their store you’ll then be able to send all of your customers their way. This is called cross promotion and it works gangbusters.

It’ll work in any business too! A painter can set up a cross marketing deal with a builder and easily say “When I paint your home, I’ll give you a voucher for $750 worth of building improvements that you’ll want to have done once you see your home looking so good!” and the builder can say “When I do your renovations I’ll set you up with $400 towards getting your painting done!”

Of course there’s an extra powerful motivator that makes this work so well. And that’s simply… the credibility of word of mouth recommendation. Your customers or clients know darn well that you wouldn’t recommend some other business unless you were happy with that business. And that’s powerful stuff!

3.  Use the power of promotion, promotion, promotion!

Promote the pants off your product or service using the power of the personal approach. Be upfront and approach people who are in the area when you are quoting, or are about when you actually are delivering the service or who are walking past your shop.

For example, you are quoting for some building renovations at someone’s home. Find out from them the names of the neighbors on both sides and those across the road as well. Go and knock on their doors and tell them what you are doing. Explain, “Because you will be doing a job in the neighbourhood they could get themselves a great deal if they wanted something done at the same time.” This approach consistently averages two extra jobs for every 5 neighbours seen.

If you operate a retail store have someone with a great smile and a friendly personality standing outside your shop giving out vouchers that offer something for free. The secret is to get a voucher in the hand of everyone who strolls past along with a cheerful comment that emphasises the offer like “This is for your piece of free carpet!” or “They’ve got 25 dollars for you inside!”

You must adopt this fun approach because, if you just have some wooden faced person glumly handing out a piece of paper, most people will take it and not read it. If it’s fun and done with a smile with a spoken offer many more people will act on it. If you or your team members don’t have the aplomb, the personality or the courage to do it, hire a casual team member with the right skills to do the job. It will reap huge rewards.

4.  Advertise.

Put together an ad that grabs people’s attention. Use a compelling headline that drags people in, even if they weren’t in the market for your product or service. Of course the copy you write that amplifies and explains the headline must be just as compelling. As they read it they should be thinking “Hey, this is about me and the answers to my problems, I’m really interested in this.” To get them to act straightaway have a coupon with an expiry date in your advert that entitles customers to an irresistible special deal.

Then do something most people don’t do. Measure the sales you make from the advert and, if it works for you, keep doing it!

5.  Stay with prospects.

Many business people make one attempts to get the business and, if the prospect doesn’t buy then, they forget them.

That’s downright crazy. You see when we talk with a prospect we know that they are interested in buying but we just don’t know when.

Some people are ready to make a decision then and there, some are getting ready to buy next week or next month and some are just gathering information for a purchase sometime in the future. If they don’t buy now despite your best endeavours, it’s important that you find out when they are planning to purchase and then stick with them until they buy or die!

Of course this means that you’ll need to have their contact details so that you can stick with them but naturally you’re getting those from every prospect you meet, aren’t you?

And that raises a final thought. Why don’t you go back to prospects you saw recently who didn’t buy then and see if they are ready to buy now? You’ll be amazed just how much business this will generate for you.

These techniques are simple, effective and will get results!

At Eclipse Accounting Group, we’re about so much more than just numbers.

We’re invested in the good of our clients, our team and our families, and we strive to make a difference in the wider world.

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