July 6

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Double Your Profits At The Spin Of A Wheel

By David Holland

July 6, 2016


If someone were to come up to you in the street and tell you that you could double your profits with 1 simple methodology switch, you’d wonder how long it’ll be until men wearing white coats would take that person off back to the asylum.

Now, I may be a bit quirky but believe me I’m not wearing a straitjacket!

David Sandler talks a lot about selling smart, and if anyone’s ever studied the Sandler selling system there’s an important paradigm shift which he talks about in his teachings.

In a nutshell, it’s all about verticals.

If that’s an unknown concept to you, I’ll give you an analogy…

Imagine your business is the hub of a wheel. You’re spinning at full throttle, but you’re limited to how fast and hard you yourself can work. At 100% effort you can only go so fast, and using this model the only way you’re going to spin faster is by putting more effort into spinning.

This model is fine if all you want to do is spin as fast as you can, but for achieving sales growth in a business, you need a way of that effort translating into the car going faster.

This is where verticals come in – they’re some of the spokes on our wheel.

Spokes on a wheel enable that same effort to amplify, resulting in the car going faster. That 100% effort with a long enough spoke lets you achieve 200% payoff – possibly more.

The most common spoke businesses use are referral schemes – why put all that effort into 1 sale when you can get 2 sales, or 3+.

Achieving this with consistency comes down to 2 things – a fantastic customer experience and a systemised (and possibly incentivised) referral programme.

Most people who buy your product/service will have someone in their life who could also use your product/service. The two reasons they don’t give you those names willingly is 1 – you didn’t ask, and 2 – they are afraid of dropping a friend or colleague into a poor experience.

Giving your customer a fantastic 1st experience of you opens up a huge opportunity, not only in the form of potential repeat business from the customer, but also for referrals.

Having a system that 1 – delivers a fantastic experience, and then 2 – asks if they know anyone who would love the same, will open up huge windows of opportunities. Referrals are some of the easiest sales a salesperson will ever make. They know that trusted friends would not recommend experiences if they’re not something truly special. The guard is down on the prospect because they have been told by someone they trust that your product is going to blow their mind, and they must have it.

So, to quickly sum up before I’m taken away back to the asylum – focus on the end of your sales process and include an automated approach to getting customer referrals (note that automated does not mean dehumanising, maybe have Infusionsoft create a task for you to call them in a week to ask for a referral!) this will open up a plethora of easy sales.

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David Holland

About the author

Nice bloke with practical ideas. Former Procter & Gamble, Kraft and IBM sales and marketing executive. Became a business owner 20 years ago. Started multiple businesses including EXELA which is the most successful Keap® & Infusionsoft™ reseller in the EMEA region.

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