- How to use the power of the “butterfly effect.”
- These small changes can yield outsized results for your business.
Have you heard of the butterfly effect? It’s a way of describing how small changes can have a seismic impact on a complex system.
Here’s one way it’s often explained. If a butterfly flaps its wings in California, the breeze could grow and eventually alter the weather in New York. Business leaders can harness the power of the butterfly effect by making minor adjustments to their current plans and then harvesting significant rewards in the form of revenue or customer count.
Here are four quick “wins” that you can implement today that have been shown to lead to substantial business growth and profitability.
1. Website optimization
Some business leaders have a “set it and forget it” approach to web development. But by making minor adjustments to your company website, you can convert more clicks into loyal customers. Here are a few quick examples of ways to improve your website.
Design and layout
A clean, uncluttered website will make it easier for visitors to engage with your content. But don’t be afraid to use labels that reflect your unique value. For instance, instead of just listing “products” or “services” in your menu, use a keyword that reflects your business.
Compelling value proposition
Every visitor to your website should almost instantly understand what you’re all about. That means more than keeping your core products and services front and center. It’s also about defining what makes your business distinct from your competitors.
Think about the problem your business is uniquely positioned to solve. Your website should connect with visitors’ pain points and provide a clear (and even visual) explanation of how you offer the solution.
Clear call to action
A shocking 70% of B2B websites lack a clear call to action (CTA). But your CTA is one of your greatest tools for converting visitors into customers.
What would you like visitors to do after viewing your website or blog post? For example, you might ask visitors to:
- Contact you
- Click for more information
- Join your mailing list
- Like or share on social media
- Request a demo
These requests encourage your visitors to take the next step, which can be crucial in gathering leads or increasing your customer count.
Web users may quickly abandon your site if your contact or intake forms look outdated or difficult to fill out.
This also means the form should be easy to use on all devices. Roughly half of all web traffic now comes from mobile devices. Mobile-friendly forms ensure your visitors complete them.
2. Follow-up process
Congratulations! You’ve converted a new lead. At this point, this new prospect is at the very top of your customer pipeline. It’s up to you to design a process that leads them toward committing to your business. Here are some tips for converting these leads into committed customers.
Chances are that you won’t have much success by following up with customers a few months down the line. Ideally, you should find a way to initiate the follow-up process 12 to 24 hours after receiving a new lead.
Many of your new leads may require several follow-ups after the initial contact. Unfortunately, many sales reps give up after just one. Sure, you don’t want to be too aggressive, but it’s okay to use consistent communication (follow-up emails, notes and more) to nudge your prospects to take the next step.
Create a follow-up schedule to help you build a relationship with your new prospect. This might include:
- An initial email (within 24 hours)
- A follow-up email (within a week)
- Text messages (within 1 to 2 weeks)
- A phone call (within a month)
This will also ensure you use every channel to connect directly with your new lead and encourage them to walk through your sales pipeline.
Make it personal
Many customer relationship management (CRM) platforms can send automated messages to new leads. But make sure to use the right tools to include personalized messages.
For example, your message might contain information about a specific product or service, then ask if they have additional questions. This way, you’re nurturing your leads with helpful content specific to their needs.
3. Cross-selling to existing customers
Sometimes, your current customers make your best “new” customers. Encourage your current or past customers to consider a new product or service whenever possible. After all, these customers are already familiar with your brand and the overall customer experience. Now, all you have to do is introduce them to something new.
Do your homework
Start by researching the right cross-sell offers. You might tap into information sources such as:
- Trade publications
- Competitive analysis
- Transcripts from customer service calls
- Interviews with current/former customers
This qualitative data will provide insight into what might appeal to your customers in the future.
One of the most direct ways to boost revenue is by up-selling. In this strategy, you’re seeking to introduce your customers to a better-quality version of a product or service they’ve previously purchased.
For example, software-as-a-service (SaaS) providers might prompt their existing customers to explore the advantages of the next-tier package. The benefit of up-selling is that the customer is already enjoying the current version and may need only a little encouragement to consider an upgrade.
True cross-selling is the art of introducing your customers to a new product, though it may be adjacent to a previous purchase.
Retailers, for example, might reach out to their customers with additional products or accessories. Electronic distributors might promote things like chargers, storage, screen protectors and other related products that encourage customers to make a new purchase.
4. Asking for referrals
Your satisfied customers may be an untapped source of new customer leads. Don’t be afraid to proactively ask your customers for referrals. Word-of-mouth advertising can be a powerful way to build your brand and solicit new customers. Here are some ways to mobilize your customer base to obtain new referrals.
Send a follow-up email
Send a follow-up email once your sale is complete. This might be shortly after the initial sale or up to a year afterward. At the very least, this keeps your brand at the forefront of your customers’ minds, encouraging them to recommend you to any friends who need a similar product.
Create a referral program
The most direct way to obtain referrals is to create a referral program. You can even incentivize this approach by offering customers a discount or reward for any referral. Advertising this program on your website, social media or email marketing campaigns might generate more sales from those who anticipate a referral-based discount.
Publish customer reviews
While customer reviews won’t generate referrals in the traditional sense, they still provide real-world feedback that can encourage future customers to commit to your business.
Small changes, big results
By optimizing your website, following up effectively and tapping into your current customers for cross-selling and referrals, you’ll drive more sales and improve your bottom line.
Best of all, these “wins” don’t require a major change in your infrastructure to implement. Like the butterfly effect, these small changes can have a big impact on the health and longevity of your business. Why not get started today?
Thanks for reading! Do you want to create thought leadership articles like the one above? If you struggle to translate your ideas into content that will help build credibility and influence others, sign up to get John’s latest online course “Writing From Your Voice” here.