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We’ve all heard the saying, “more is more,” especially in the business world. You know what they say… If you want to succeed, you need more offers, more products, more services, and more revenue streams.
But what if I told you that this widely held belief might be misguided? What if, in fact, the key to sustainable growth, success, and personal satisfaction doesn’t lie in piling on more offers?
Today I’m going to share a different perspective from the ‘hustle’ mentality that has infiltrated our lives and businesses… And I’m going to show you that LESS is more when it comes to embarking on the path to prosperity, and focusing on quality over quantity!
Are you ready to challenge the notion that more offers are the holy grail of success? If you are, then let’s dive into this eye-opening exploration of why, sometimes, simplicity and focus are the keys to reaching new heights.
Stick around, because by the end of this episode, you might just find yourself questioning your own approach to business and life!
Feeling Overwhelmed? You’re Not Alone
I recently had a conversation with a friend who was feeling overwhelmed and scattered in her business. She had a million ideas and was trying to do too many things at once. I could sense the overwhelm in her voice, and it reminded me of how easy it is to spiral when things aren’t going as planned.
So, I suggested that she shift her focus from doing MORE to doing less, but doing it BETTER.
This idea of going deeper instead of wider is crucial. We often fall into the scarcity mindset of thinking that we need to create more and more to make more money.
In fact, the Pareto Principle states that for many outcomes, roughly 80% of consequences come from 20% of causes (the “vital few”). Another name for this principle is the 80/20 rule, which you may have heard. It basically means that 80% of our results come from 20% of our efforts.
So, in order to drive better results, the answer isn’t MORE effort! Because a lot of times we are spreading ourselves so thin that we’re not optimizing anything.
The Dangers of Over-Exerting
The dangers of over-exerting ourselves as business owners are rarely talked about – sure, we hear phrases like “avoiding burnout,” but what does this ACTUALLY mean? How can we REALLY ensure that we’re not hustling and grinding ourselves to the bone without enjoying the fruits of our labor?
Well, in my opinion, the answer lies in my unpopular opinion… You don’t need more offers!
This year, my team and I have focused on ease. We’ve realized that we don’t need to constantly create new products or offers to grow our business.
In fact, we’ve seen a 40% increase in revenue and profits by simply going deeper with our existing offerings! We’ve refined and improved our signature programs, and every time we launch them, they get better and better!
If you’re with me on going deeper with your current offers and customers instead of coming up with more offers to make more money, keep reading for 3 ways you can get started.
1. Increase the lifetime value (or LTV) of your customers.
Recently, a friend of mine discovered that by focusing on retaining their current customers and reducing churn, they could increase their revenue by $750,000 without acquiring a single new customer. This made her realize that acquiring new customers can be much more costly than retaining existing ones!
In fact, studies suggest that depending on the industry you are in, acquiring a new customer can cost five to seven times more than retaining an old one.
To optimize the lifetime value of your customers, I suggest focusing on providing excellent customer service, improving your products and services based on feedback, and reducing churn. By going deeper with your current community and giving them a better experience and support, you can drive massive results.
Things like delivering exceptional customer service, improving your products and services based on their feedback, reducing churn and building relationships can all increase the lifetime value of your current customers.
2. Optimize your website.
Another key aspect of increasing customer lifetime value is optimizing your website. This involves making your website user-friendly, ensuring it loads quickly, and providing clear call-to-actions.
By tracking and measuring your website’s performance through tools like Google Analytics, you can identify areas for improvement and create a seamless and easy experience for your visitors.
If you’re not sure if your website is intuitive and leads to the sale, my recommendation is to hand your computer over to a friend or family member who isn’t very familiar with what you do and hasn’t been on your website before, and just WATCH them navigate it. Don’t guide them, don’t speak… Just watch how they scroll, read, and click. This is a SUPER eye-opening experience!
Finally, Donald Miller has a lot of great free resources about how to optimize your website. We are in no way affiliated with or sponsored by Donald Miller, but this is his expertise, and he really provides great free value at 5minutemarketingmakeover.com!
3. Increase the conversion of your existing marketing efforts.
Lastly, let’s chat about the importance of increasing the conversion of your marketing efforts. It’s not just about getting new customers, but rather focusing on optimizing your current strategies to drive better results!
Some ways to increase conversion are:
- A/B testing: Conduct A/B tests to compare different versions of web pages, CTA buttons, and forms to identify which elements yield the best results.
- Reduce friction: Simplify lead generation forms and the purchase process as much as possible – only ask for essential information because the more your customer has to ‘work’ to buy your product or service, the more money you’re leaving on the table when they inevitably get distracted or bored by the process.
- Follow up: Not following up with leads is a HUGE way that business owners lose money. In fact, according to a really interesting article on Woodpecker.co, the most optimal number is 2-3 follow-up emails before you give up! As you probably know by now, in addition to email marketing, my team also uses chatbots on Instagram to follow up with those who’ve inquired about our courses in the past (DM me “CHAT” on Instagram to see how this works!).
There you have it, Goal Diggers: you don’t need more offers to find success!
Remember: quality, focus, and intention can often outweigh the sheer quantity of offers. So, as we head into the new year, consider how this Unpopular Opinion might reshape your path to success, both in your business and your life!
Before you go, let’s keep the conversation going! I want to hear your thoughts and experiences related to today’s topic, so join the discussion on Instagram @goaldiggerpodcast. I can’t wait to chat with you there!