Ep 421: Use Your Existing Customer Base to Double Your Business | Nikki Nash Episode Recap

AJV (00:02):
All right, y’all, let’s talk about three things that you can do with your existing client base to help you double your business. Now, it does not matter what kind of business you’re in. These are three things that are universal that you can actually start to do now to help you grow and scale your business. And this is all within the context of the clients you already have. So I will say, I’ll preface, you need to have clients for this to work. So if you’re at the very, very beginning stages of your business earmark this particular training, come back to it when you have a handful of clients because this is gonna be most useful to you once you already have an existing client base. So how do we grow our business from within our current client base? I’m gonna just talk about three quick ideas.
AJV (00:48):
First one is create new products and services that can serve your existing client base. One of the things that we talk about at brand builders a lot is the concept of fractal math. And I’ll go through this very high level but just let’s say you have a hundred clients. The assumption using fractal math is that at least 10% of your clients will spend 10 times the amount that they’re currently spending with you. So if you have a hundred clients, again, for easy math that are each paying you a hundred dollars, at least 10% of those people, 10 people would likely spend 10 times the amount that they’re currently spending a hundred dollars, which 10 times that would be a thousand dollars. So if you have a hundred clients that spend each spend a hundred dollars with you, then at least 10 of those people would be willing to spend a thousand dollars with you.
AJV (01:48):
That is fracked on math. That goes down again. So if you now have 10 clients that are spending a thousand dollars with you, the assumption with fractal math that at least 10% of those people would also spend 10 times the investment. So if you have 10 clients, then at least one person would be willing to spend 10 times their current investment, which would be 10 times a thousand, which would be $10,000 with you. So if you have a hundred clients, then you have at least 10 of them who would be spending a thousand dollars with you, and then you have at least one of those who would spend $10,000 with you. And so a huge part of what we need to do is not create brand new programs to go out and market into the community trying to get new clients, but is to figure out what is the most meaningful, what are the deepest ways that I can serve the people that I’m already serving, right? Your existing customer base, what more do they want from you? What more do they need from you? And how can you package that in a way that they would be willing to spend more money with you to get more access to you, more time with you more work done from you, whatever it may be.
AJV (02:59):
So it’s that concept of fractal math. And if you don’t know what to offer, the best thing you can do is just ask your super clients, right? Go to the top five, top 10, how many of your clients you have, top 20 clients that you have that have been with you the longest, love you, the most that you know of, spend the most money with you and go, Hey, if I were to create something new, what would you want? I’m coming up with some new program ideas and I wanna create it for your, you know, your avatar. You are who I wanna serve. What more would you want from me? And just ask. It’s the best market research you can get is asking your current customers who already know you like you and spend money with you. So that’s the first thing is just find new ways to serve your existing client base.
AJV (03:45):
I e sell more to your existing client base. Number two, keep your existing clients . Like even if you don’t sell anything new to them, you have to go. It is so much easier and cheaper and faster for you to work on retaining your existing clients than it is to go find brand new ones all the time. So you need to reduce your churn, reduce your turnover, and you need to increase your retention. So what do we need to do to do that? I think most of us, it’s a prerequisite that you have to deliver an amazing service. You have to deliver incredible value. That’s a given. I’m not even gonna talk about how to make your program and your services better. That’s a prerequisite for this conversation. What you do has to be awesome. You have to overdeliver. What I know that most of us forget to do once we’re in client service mode, once we’re in client delivery mode, is we forget to actually talk about the sale component.
AJV (04:43):
We forget to continue to market and sell what we do. And so if you’re selling, you know, 12 month agreements or three month or six month, it doesn’t matter what you’re selling. You have to continually talk about, hey, this is the initial terms of our agreement and this initial year together and this initial phase together and these initial steps together. So you wanna help people know, it’s like this is not a 12 month program, right? It’s phase one is 12 months, right? The initial term is 12 months. And that is a very intentional verbiage and language that you need to use in marketing, your initial sales conversations on every single client interaction in your ongoing marketing in your ongoing communication. You need to create that atmosphere of, I have more to give that extends 12 months. So you may not choose to be here 12 months, but my program goes beyond 12 months. We just choose to review and renew at 12 month increments. And so one very quick tip that I’ve always done since the beginning of my coaching years, which, how old am I, how long have I been doing this for? Almost 20 years, that feels impossible to say that,
AJV (05:56):
That for almost 20 years, this has been one of my key policies, key philosophies in retention is that from the very first call, very first coaching call or client engagement, doesn’t have to be a coaching call, consulting, engagement, whatever. As I always talk about the next three calls or the next three months or the next three things. And so at the end of every call or training, I talk about the next three, right? So let’s just say it was a coaching call. At the end of today’s call, I’ll say you know, Hey Terry after our call that I’m gonna send you a recap and I’m gonna go ahead and put together what I think based on our time today are the three topics of conversation that I wanna map out for the next three months. And so we talk every month.
AJV (06:41):
So this is my plan. I’m gonna put that in the email. I want you to think about it. If we need to change things and adapt things, then we can, but based on today, I’m gonna go ahead and map out our next 90 days, our next three months together. And I would do that all the time from the very first time. So when I get to month 10, 11, 12, it’s not new for me to go in month 12 at the end of the agreement of, hey, just so you know, we’re coming up on our 12th call. Here’s the mapping for our next three calls. However, our first set of engagements ends at this next call. Do you want me to go ahead and keep mapping those next calls? Or do you wanna talk about an an exit plan? So we’ve got a continuity plan or we have our exit plan and it’s a very natural ease of transition because I’ve been talking about the next three months from the very first month.
AJV (07:30):
So when I get to month, whatever is the end of my program, I’m still talking about the next three months as if they’re going to continue. And then it’s an easy transition to go. And by the way, like we can use this time to talk about the next three months, or we need to talk about what it looks like for you to carry on in the next three months without me, but would love to keep it going together, right? So that would be the second thing with just retention and renewals of always having a plan for the future and always talking about that. Then. So, okay, let’s just recap. So we’ve got sell to our existing clients. We have to retain our existing clients. And then last but definitely not least is we need to get referrals from our existing clients. That’s real important. So a couple of things.
AJV (08:14):
Getting referrals starts in your marketing language. This should be a part of your company culture. It should be a part of your sales culture, your operations, your customer care, your delivery. Everyone should be talking about growing your business through referral. So it has to start in marketing. Number two, it has to be all the places all the time. So it needs to be visible everywhere you go. It’s not that you’re gonna depend on one person asking for referral. It’s like, no, we talk about how our community is word of mouth. People ask me all the time, it’s like, Hey, aj, is there anything I can do for you? I’m like, yeah, you can give me referrals to help grow my business. , yeah, there’s something you can do for me. Yes, and I would love to do the same for you.
AJV (08:54):
But when people go, Hey, how can I help? I’m like, honestly, you can help share the word of brand builders group. That’s how you can help. Genuinely, we are a word of mouth business. We do very little paid marketing. We are a referral based business. So I depend on people like you telling the people that you think would be a good fit that we exist. So that’s how you can help. It needs to be easily found on your website or in your learning portal, in your email marketing, you know, like a brand builders group. We have a whole slogan for it. It’s called B B G for free. And it’s like, Hey, we want you to invite your friends to be a part of this community. Help us grow the community with people that you wanna be in community with. And it’s called b g for free.
AJV (09:36):
And it’s if you refer people to us we actually pay you referral fees where they’re gonna pay it to a paid marketing agency or we’re gonna pay it to our customer base. We’re choosing to pay it to our customer base. So we’re choosing to pay you to help be our marketing force versus paying a traditional advertising company. So make it a part of your culture, then make it easy. Give people multiple ways to refer you business. So I can just use Brand Builders Group as an example because that’s what I know the best. It’s so it’s like you can click on a link and you can populate your own U R L. Now that’s easy to do for you the customer. That’s not always easy to set up on the backend. It took us a long time to set up that infrastructure, but it’s like you can just click a link, make your own custom a referral link and use that.
AJV (10:24):
We also have a simple form that you can just fill out a form and emails our sales team notifying, Hey, there’s a referral to be had here. You can also click on a phone number and talk to someone and go, Hey, I’m not really sure, but this is someone I think, so that we have three different ways that you can actually refer us business. And it’s like, what’s easiest for you? Do you wanna just talk to us and have us reach out on your behalf? Do you wanna click this form and just give us the info and we can take it from there? Or do you wanna click this link, make your own u r l and you can send it out on social media, send it to your friends in an email send an email out to your list. We’re trying to make it easy for you. And so, again, how do you double your business from your existing clients? It’s one you sell new programs, new services to your existing clients. If you don’t know what, ask them. Remember the concept of fractal math. Number two retain your existing clients. Keep them longer. It’s the cheapest, fastest way of going your business is you’re not having to replace your clients. And then number three, get referrals from your existing client base. So there you go, three ways that you can start to double your business from your existing business.