If I needed to generate new revenue quickly and urgently, here are five actions I would take immediately:
- First, I’d call as many of my past customers as possible, for as long as I could. I’d start with the most recent and work my way back in time. I’d ask them how they’re doing, what’s new, and catch up. I’d ask where they’re at, and where they’re trying to get to. I’ll see if I can help them get there more quickly, more easily, or more affordable. I’d listen closely for opportunities where I can help them.
- Second, I’d create a high value, “easy yes” offer, at a reduced price. If the goal is quick cash, give people a way to pull the trigger easily.
- I’d share this offer with my entire list electronically, by snail mail and Fedex to top prospects.
- I’d ask for three referrals every day. “Who do you know like yourself who would benefit from my kind of value?”
- I’d incentivize people for helping me. I’d create ways to make it in people’s best interests to help me. For example: if somebody makes a referral who buys from me, I’d do something nice for the referrer. Either a month of coaching, or a free year-long subscription to my video series. If somebody previously bought something small, I’d let them apply the full amount they’ve already spent with me towards a larger purchase.
Mostly, though, I would understand that the amount of new revenue is directly proportional to my communication activity level.
You can apply these concepts to products as well as services.