GROWING YOUR BUSINESS THE SMART WAY

1. GROWING YOUR BUSINESS THE SMART WAY 3 specific ways to do it

2. Three Ways to Increase Your Sales and Grow Your Business • Increase the number of customers • Increase frequency of Repurchase • Increase the average value of the transaction

3. Three Ways to Grow your Business INCREASE Frequency of Repurchase INCREASE Value of Sale INCREASE Numbers of Sales

4. How Do I Increase Sales? • Number of customers • Attrition and Frequency of Repurchase • Value of the transaction

5. Maintaining Your Old CustomersAttrition • Reducing attrition should be part of every company strategy, but it is almost universally neglected.

6. What is Your Attrition Rate? • If you have 500 customers this year • If you lose 100 customers per year • Your attrition rate is 20%

7. What Do You Have Now? Value of your Current customer base

8. What can you expect? Value of current customer retention

9. Problems Problems in Auto Repair Industry Auto repair and servicing is a blind item which requires solutions that are not easily addressed to - or understood by - the general public: All this creates mistrust, anxiety, and uncertainty among consumers. A recent AAA survey states the 25% of all car owners feel that they cannot afford to repair their cars.

10. Why Did They Stop Buying From Us? • The did not get a comfortable feeling when they came in • They do not understand that the costs may vary from your estimate once you have inspected the vehicle • None or limited communication with customers that have not come in at least once a year • They no longer feel they benefit from your shop • They are unhappy with your company • Don’t know of your new offerings • You are not giving them any new reasons to buy • Competition doing more and better promotion and marketing

11. How to Reduce Attrition • Frequent Communication with Customers • Emails and/or Email programs • Direct mail • Telemarketing • Advertising • Website • Social media

12. Increase Your Customer Retention Rate • Greet all customers when they arrive • Keep a personal diary of major customers and their needs and personal matters • Delivering higher than expected level of customer service by carefully explaining up front and in writing at the end the reason for the charges and making sure you have their email addresses • Communicating frequently with your customers to nurture them especially after a visit for a repair

13. Increase the Frequency of Repurchase • Contact Inactive Customers • Running Special events and information nights • Price or gift inducements • Programming customers with Loyalty or programs including price inducements for frequency • Develop backend products • Communicating personally with your customers ( telephone, letter, email social media, etc.) to maintain a positive relationship

14. How Do I Increase Sales? • Frequency of repurchase • Increase Number of customers • Value of the transaction

15. Increase the Number of Customers • The number of customers can be increased by • Referrals • Increasing the lead or inquiry generation • Increasing the customer retention rate • Increasing the conversion from inquiry to sale

16. How to Increase Number of Customers • Unique selling proposition • Advertising • Increasing number of leads guaranteeing purchases • Delivering higher than expected levels of customer service • Preemptive marketing Direct to consumer /business sales visits • Using public relations • Increasing value through better customer service • Increasing perceived value through better customer education • Social media • Website

17. Increase your Lead/Inquiry Generation • Using Direct mail • Telemarketing by you or an outside firm or person to make appointments • Special event and information nights. Join the local Chamber of Commerce • Using qualified lists that target your prospects • Referral systems • Acquiring clients at breakeven and profits on the back end • Guaranteeing purchases through risk reversal • Host beneficiary relationships • Advertising

18. Increase Your Conversion From Inquiry to Sale • Increasing sales skills of your staff • Qualifying leads upfront • Making irresistible offers • Educating your clients by giving them reasons why

19. How Do I Increase Sales? • Frequency of repurchase • Add-ons • Number of customers • Value of the transaction

20. How to Increase the Average Transaction Amount /Sale • Increase your prices, and hence your margins • Upsell and cross sell • Offer greater or larger units • Change the profile of products to be more upmarket • Use point of sale promotions • Package complimentary products/services together • Put less expensive impulsive products in strategic and counter locations

21. Results : Value of working your plan Reaching your goals

22. 10 Steps to Grow Auto Repair Shop Sales #6: Analyze everything about customers #7: Sharpen your axe #8: Interact with existing customers #9: Increase your pricing #10: Have a plan #1: Avoid the HIPPO #2: Cut traditional media #3: Talk less about you and more about customer needs and wants #4: Stay focused on marketing #5: Pay attention to ROI

23. The Biggest Hurdle to Getting Extra Sales • Commitment • Focus • Consistency .

24. Summary • There are only three ways to grow your business • Increase number of customers • Increase average value of transaction • Increase average frequency of repurchase

25. Available Take Home Information • 10 Steps to grow Auto repair shop sales • Value of Improving Customer wait time experience • Improve your return on marketing • Other material • 50 retail marketing ideas • Monthly ideas • Techniques to increase sales • Sales promotion in todays economy Just email us at info@scoresb.org , goldmanmarketing@cox.net or go to our website www.sbscore.org for the all or any of the enclosed promotional materials or discuss with your personal counselor /mentor.

26. How Can Score Help You Thank you for allowing me to make this presentation ! Santa Barbara SCORE, in conjunction with the Small Business Administration, helps small businesses and start-ups by offering free individual objective, confidential mentoring/counseling in all fields of business with the assistance of individuals possessing deep experience in those fields. If you are interested in FREE Local Mentoring/Counseling: Go to our website: www.sbscore.org Click the green box: “Request a meeting” Fill in the information requested Click ‘Submit” You’re done. You’ve registered to receive mentoring services, and normally within 48 hours you will be contacted.