Each year, I sell close to ~$23,000 of gift cards just online. We sell another $25-35k in-store.
Has anyone ever bought a McDonald’s hamburger because they wanted the pickle?
According to McDonald’s – the company sells 225,000,000 burgers worldwide each year. 75 per second!
All so picky-eating pickle-flickers and flick their floppy pickles onto McDonalds’ clean windows.
In fact, I doubt McDonald’s would see their sales suffer at all.
And McDonald’s would save millions of dollars – and decades of wasted time – each year.
The Price To Be Paid is Bigger Than We Often Think
Every feature you offer comes at a cost.
It’s easy to ignore the cost of providing a feature when you’re so focussed on marketing and sales.
And this could lead you to retire entire products – or product offerings.
Burning Money with Jet-Fuel
Have you seen Antiques Roadshow.
“This is no ordinary dusty old trinket. It’s actually a priceless historical artifact”
The Priceless Historical Artifacts in Your Business
By far, the most valuable asset most businesses own is their past leads and customers.
But most of the time, your most valuable asset is stored in the attic – gathering dust.
The Irony of Advertising
How much should you charge for your products and services?
Whole PhDs have been dedicated to finding the best and most profitable price to sell an item for.
Forget about the meaning of life!…
I can understand why…
And that’s what we’re trying to do in this email series – increase your profits!
But improving the Items-Per-Sale lever is perhaps the hardest of all of the 7 Levers to improve.
It’s difficult because it requires a lot of thinking.
When upselling Items-per-Sale is done poorly:
When Upselling ISN’T Upselling:
Today, let’s get right down to brass tacks.
Let’s Get Some Big Sales Results – Fast!
If you want to increase sales, there are three key strategies
The Keys to Effective Sales Offers
There are 3 elements to an incredibly effective sales offer:
Have you seen Jeremy Piven in the TV series – Mr Selfridge?
The Red Gloves Scene
It was a battle of wills – between a well-meaning shop clerk, and the owner himself.
But Selfridge had a good reason for making this demand.
And part of the theme park model was making goods visible and accessible.
This one “tweak” to the way retail worked had an unintended side-benefit…
Every business owner wants to make more sales.
Running more ads makes sense – to an extent.
But Advertising Takes an Investment
So – at any point in time – there’s a limit to how much advertising you can run.
And then there’s the problem of FOCUS!
I love weird science experiments…
And Professor Stephen Morris is a Canadian physicist with a weird collection of dominoes.
The first domino is smaller than a Tic Tac – just 5mm by 1mm.
(This domino is so small that Dr Morris has to place it with tweezers.)
An Increase of Two Billion Times The Force…
Einstein was right.
The most powerful force in the universe IS compounding.
But Compounding Isn’t Just For Bankers and Physicists
It’s possible to achieve compounding effects in business too.
You just need to look for these 3 traits:
Archimedes – one of the greatest mathematicians who ever lived – once proclaimed:
“Give me a large enough lever, and a place to stand, and I can lift the entire Earth.”
At the time, he must have sounded like a crazy person…
But he proved all his naysayers wrong.
It Was An Idea That Changed The World
The key is to find a point of leverage.
Who Was Smarter: Al Gore, or George W. Bush?
Pete Williams is an entrepreneur, author, and marketer from Melbourne, Australia.