If you’re like most business owners, you probably spend a lot of money trying to generate customers for a once off income boost.
How many of us are getting our clients coming back multiple times a year though?
This is what continuity is all about.
If you’re selling a product or service that is used often and regularly, you have the ability to put your clients into long term programs where the costs are automatically debited.
Why go to all the effort to get a customer to buy from you if you’re not going to get them to buy again.
Anyone can do this in his or her business.
- Software Companies
- Engineering Companies
- Personal Trainers
- Manufacturing Companies…
The list is endless.
You name a business, there’s a way to manufacture or engineer a continuity system into it.
Let’s take a look at a more difficult example.
One of my earliest clients was a pool company. They engineered, designed and installed in-ground pools into people’s homes.
They were quite a large company, doing over 150 pools a year at an average of $30,000 a pool.
You can see that they’re turning over a lot of revenue.
However, they were running at quite a low profit level.
When I talked to them about doing continuity services, they immediately thought I was an idiot.
“People don’t buy pools every 2 years!”
But there was a completely obvious, but non-existent side to their business: maintenance and upkeep.
You might find it incredible that a company with a $4mill+ turnover that sold pools wasn’t selling maintenance services… but it’s true.
And they weren’t idiots; they had just been focusing SO much on selling the pools, they didn’t think about what else they could do.
This actually happens in a lot of industries.
So what did we do? We started up a pool maintenance and care company. And everyone who brought a pool would get 3 months of FREE maintenance, then would continue to be charged $200/month after that. It would only cost them about $50 to send a pool cleaner to the property, and they’d make $150 profit.
We went back to all past customers (over 1000) and made the offer.
Within 7 days we had a pool maintenance company with over 200 customers.
That’s an extra $400,000 a year profit!
All from opening our eyes and connecting the dots of what was in front of us.
My hope is that after reading about this strategy, you’ll evaluate where in your business you could introduce a source of continuity income.
If you’d like to get help with putting this all into practice and making this strategy work in your business, give us a call at1300 680 223. We can help.