A quick CEO-level discussion about the great sales dip of 2024 and how to reach new leads to bring those numbers back up. It takes just 2 minutes 30 seconds to read (or listen to) so you can decide if this is the right strategy for you right now, and get on with your day.
Reading or listening time: 2.5 minutes
Here’s what we’re discussing in this episode:
- the significant sales slump many ethical business owners are experiencing this year that might be the new norm
- the solution that other marketers are recommending
- what we recommend doing instead, that leads to bigger profit margins and more sustainability during difficult years
- 3 things you can do today to reach new leads without ads or social media
Listen:
What To Do When Sales Drop And You Need New Leads » Fern CX & CRM Blog
Ethical sales and marketing tips to help your business bounce back from a sudden sales slump or industry-wide shifts.
Or read:
You might’ve noticed that sales funnel conversions are WAY down right now.
Some say 30-50% lower than the past 5 years.
Which can WRECK an ethical business’ ability to stay in business.
And if you ask around, many business owners are seeing the same thing happen in their tried-and-true funnels that have been optimized and stable for years.
And if it’s happening to those funnels, what does that mean for your Black Friday/holiday sales?
The natural thing to do is to PANIC! And start asking your team of experts how to fix your ads, optimize your sales page, or revamp your webinar.
But the uncomfortable truth is that this might be the new normal in an industry that has enjoyed easy income for over a decade.
Our favorite marketing experts are saying: “diversify your revenue streams.”
Which is good advice!
Instead of relying on the same webinar funnel that’s been at peak performance for years, it might be time to try a summit or create a new SLO.
But (if you know me!) I have a different take on the problem.
YES, conversions are down and we may have to get used to that. But that doesn’t mean your SALES need to go down too.
Instead of pouring *more* money into ads or spending another ten thousand dollars or more to create a new funnel, now is the perfect time to look at how many of those buyers are becoming your die-hard loyal fans who buy everything you sell and refer everyone they know.
Why spend twice as much to acquire clients or customers if your post-sale processes aren’t optimized to turn as many of them as possible into brand champions?
Instead, Increase Warm Leads
I’ve got loads of studies and real-life examples that show delighted customers often refer 7 or more people to the brands they love.
Brands they had an amazing experience with.
So before you spend more on ads, now might be the time to optimize your customer experience so it converts buyers into 7 referrals AND loyal fans who buy again and again.
Because if your lead gen conversions are down but your referrals go up, your sales will balance out and your profit margins will increase.
Because now you’re getting organic sales you didn’t have to pay for.
So you’ll actually come out ahead of the game!
So that’s my take on the big sales dip of 2024. If you’d like to put this idea into action, here are my recommended next steps:
3 Things You Can Do Today To Reach New Leads
1. Read more about the solution
If you want to find out if your client/customer experience (CX) has what it takes to turn buyers into brand champions who buy everything you sell and refer everyone they know, read this post next:
“How Happy Customers “Do The Marketing For You” (For Free)”
2. Book a 1:1 to optimize your customer/client experience right away
If you want a faster, done-with-you solution, book a CX Starter Kit session with us to get expert eyes on your CX and let’s get your funnels ready for the next big sales season:
3. Subscribe for more CEO-level conversations
If you like the idea of quick CX strategy discussions and want to be notified when we publish new episodes – including our next one about the friction points in your CX that might be stopping your clients/customers from referring others – subscribe to our YouTube channel or sign up for our email list:
