How To Easily Grow Sales 20% With Your Ideal Customers

How To Easily Grow Sales 20% With Your Ideal Customers

One of the biggest mistakes entrepreneurs and business owners make is not being clear about their ideal customers. In the excitement of launching a new business, publishing a new website, and getting a social media pages set up, they don’t slow down long enough to figure out who their business is actually for

As business owners, you are driven to grow sales. And there’s plenty of help out there. Marketing gurus want to sell you their courses, you could read a hundred books on the subject, millions of articles are waiting for you online, and you could spend all your time in webinars and workshops. An entire industry has been built around teaching you how to make more money in your business.

However, if you aren’t completely in sync with your ideal customers, there’s no course, book, article, webinar, or workshop that has the ultimate the secret to growing sales. The benefits of getting totally clear about your ideal customers are huge and I can almost guarantee your competitors aren’t focused there.

Growing Sales: The 80/20 Rule & Your Ideal Customer 

Are you familiar with the Pareto Principle? More commonly known as the 80/20 Rule, it can be applied to all kinds of things; but for business, the definition is this:

20% of your customers represent 80% of your sales. 

If you take a look at your sales figures, there’s a chance the 80/20 rule applies to your business. In the following example, I’m going to show you how you can increase your sales revenue by 20% by merely becoming hyper-focused on your ideal customers. 

It makes no difference whether your sales figures are lower or higher than in this example. The concept is the same, so stay with me here…

Grow Sales By 20% Using An Ideal Customer Prototype

Let’s say your annual sales revenue is $300,000

  • You have 20 customers who each spend $3,000/year.
  • You have 12 customers who each spend $20,000/year. 

Here’s what can happen when you focus all your attention on prospects who are your ideal customers (spending $20,000/yr. customers in this example). Let’s see how many new ideal customers you need in order to increase your sales revenue by 20%…

Today’s Annual Sales: $300,000

  • 12 customers each spending $20,000/yr. = $240,000
  • 20 customers each spending $3,000/yr. = $60,000
  • Total customers: 32

Increase Annual Sales by 20%: $360,000 

  • 15 customers each spending $20,000/yr. = $300,000
  • 20 customers each spending $3,000/yr. = $60,000 
  • Total customers: 35

You only need to land 3 new customers to grow sales by 20% and have $60,000 more coming in. Only three new ideal customers can change your business and your life!!

So, Who Is Your Ideal Customer?

Your Ideal Customer is the person who:

  • Immediately sees value in what you offer
  • Is willing and able to pay you for it (without a discount)
  • Buys more than once from you
  • Tells friends and colleagues about you

When you increase the amount of ideal customers who buy from you,  not only do you have more money in your pocket, but you also become known as a business who caters to that type of person, which gets you better referrals. And, among other benefits, you have more free time.  

But, this only works when you are totally clear about your ideal customers. You’ll have to dig way more in-depth than demographics. You’ll have to learn how to be inside their heads and hearts and thoroughly understand them. When you do, you’ll find you run your business differently, you are more focused, and you feel in control. 

And, maybe even grow sales by 20% or 30%, or 40%, or 50%!

Do you agree? Leave a comment:

 

About Me

I’m Betsy Kent and I’ve taught hundreds of business owners how to identify their ideal customers with extraordinary results

Interested in getting started? Download my free workbook, 5 Things You Must Know About Your Ideal Customer or feel free to reach out to me for a quick consultation at betsy@bevisible.co. 

Betsy Kent

Betsy Kent

I've guided hundreds of clients through my signature process and formula and as a result, they’ve generated millions of dollars in new business revenue with more ease and confidence than ever before. THE CHANGE IS MILLIONS.

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