Do You Want Fries With That?
Business Growth Central is back and this week Nigel shares one super simple tactic that you can swipe and deploy TODAY to get your existing customers to spend more.
NOTE: This works for B2C and B2B businesses, involves chocolate bear claws, McDonald's fries and pickled onions!
Discover this clever tactic for yourself in this week's episode.
In this week's Business Growth Central I'm going to give you some practical help to get more money from your existing customers.
I'm going to talk to you about bear claws, pickled onions, and four letters. Veteran EC members might remember a very funny guy called Geoff Burch standing on the EC stage several years ago now and telling the story of the fish and chip shop from Barnsley. It was revolutionized when the owner implemented a simple phrase with every customer that came into his shop. "Shall I pop a pickled onion in that for you?" The compounded impact of that was over 30,000 pounds of additional revenue every year, which is game-changing for efficient chip shop.
Now you may or may not know that the national delicacy of Canada is not poutine as many people think, but it is, in fact, bear claws, and in one particular chocolate shop in Whistler, which I had the pleasure of being able to patronise, the average spend per customer was just over $5 until, that is, one enterprising members of staff started to ask a simple question to every customer. And here with that question is the EC's very own token Canadian, Claire.
Have you tried our world-famous bear claw?
And the asking of that question pulled the average spender from just over $5 to more than $10 because their bear claw costs over $7.
We all know, of course, about McDonald's asking if you want fries with that, but we somehow kind of forget, or seem to think, these things are not relevant to our businesses, but they are. There'll be things that you could offer systematically, that's the key, to every customer. That collectively will significantly grow your revenue in the weeks and months ahead.
And the final little strategy is for all of you that think this doesn't apply to half the customers coming into my shop. I'm B2B, maybe. Perhaps you give quotes. Well, my friends, this one is for you. Comes courtesy of my friend, the forklift truck salesman. His name is Paul, and Paul is a genius when it comes to maximising the order values from his customers, and he attributes that predominantly to four simple letters. Because if you're selling to customers who are going to place an order or get a quote, a big old transaction, at some point in the sales process you'll say to them, "What's your budget?" And when they give you an answer you simply reply with this simple four-letter word. "Up to?" And in almost every case, they'll give you a higher number. Bingo. You have just stretched the budget, increased the spend, grow the turnover, and, if you know your numbers properly, that will lead to significant uplifts in your bottom line.
That's what Business Growth Central is all about this week. Pickled onions, bear claws, and four little letters. I'll see you next week.
Today's takeaway: our sale's not always final. You can always get a little bit extra out of your customers. Squeeze that little extra bit with a bit more thought. Might just be simple as four letters or a pickled onion.
Yogi, do you want one of these bear claws?