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Hi, Mike Johnson at Vexxt Business Growth. One of the things that we are going to talk
about now is the idea of the subscription sale.
Sales just aren't a one-off event. You want to be looking at ways you can make multiple
sales on recurring items throughout the calendar year.
So, start to think about your subscription model.
And also, this is something that would work for pretty much any business.
It can be the most mundane item: Coffee, Wine, Socks, Jeans, Books, Music,
Art, Candy Bars, Toys, anything could be set up as a subscription model.
Because what you're doing is, you are finding items that people need or want to replenish
and that they may not have the time to go searching for.
You are pre-selecting, you are kind of curating your items. Plus you are delivering them on
a certain schedule. And this does a lot of things for you.
One, it increases the consistency. You are pretty much training them to keep shopping
from you. You are increasing your opportunity both to
talk to them, to offer them other items, to upsell, to get feedback.
You are improving forecasting, for example, if you are doing something in the clothing
market or soft goods you know what sizes you are going to need.
This improves your forecasting. And above all, you are increasing your revenue.
This is a subscription model where they've agreed to pay over a set period of time-or
it could be an open ended subscription just a monthly subscription.
So you have certain dollars that you know will be coming in for this item.
So use that to your advantage. Put together your subscription model and use that as an
upsell and a way to get new clients in and reactivate old clients.
For more ideas like this go to Vexxt Business Growth at v-e-x-x-t dot com.