MBA2099 How to Make More Revenue With Salutation Offers

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Hey, welcome to the $100BA show. No fluff, just the good stuff. Every single day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zedhome. I'm also the co founder of Webinar Ninja, an independent software company I started with my co founder back in 2014. And in today's lesson you will learn how to make more revenue with Salutation Offers. I got a question for you. Would you like to make 10 to 15% more revenue by just writing a couple extra sentences when you speak to your customers? What about lowering your churn or your refund rate and increasing your retention with your customers? What about converting more leads that are just asking questions into more customers? If you said yes or heck yes to any of those, then you're going to love today's episode. I'm going to share with you a strategy that I've never shared before that we've implemented in our business. It's called Salutation Offers. It's so simple yet so brilliant. And boy am I glad that we have started doing it in our business. I'm going to show you exactly what a salutation offer is, how to utilize it, how it actually helps you increase your revenue, make more sales, keep customers for longer, lower your churn all that. I'm also going to show you how you can easily get started with it. How you can just build a system for yourself or your team. Not something complicated or burdensome, but something that works already in your workflow. This one's an absolute gem. Let's get into it. Let's get down to business.

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Offers what is it? How do you use it? How does it work? Well, let me just start by explaining how I came up with this strategy. I noticed that our customer service team speak to hundreds of customers every single week. They speak to leads, they speak to people that have become customers recently, customers that have been with us for years. Customers that have been inactive have been active. All kinds of people. I, on the other hand, probably don't speak to our customers as often. I might see them on a webinar that I do or a workshop, but I'm not in contact with each one every single day. Also, I don't know the exact situation of each customer. Like customer service, we use Intercom to manage all our customer service, email and chat. It's the software we use and in that software and there's all kinds of software that you can buy for customer service. And they all pretty much do the same thing in the software that you'll use. It will outline what the customer profile is, what plan they're on, how long they've been a customer, how much they're paying, their lifetime value, all that and more. It also outlines if they're not a customer, how many times they visited your website, how many conversations you had before. Were they a customer before and they canceled all that jazz. So I thought how about our customer service team started to offer our leads and customers products, services, plans that will actually add value to their experience. And that's the key here. Salutation offers only really work if whatever you're offering is great value is improving. The experience is a no brainer. Kind of makes sense for them to type of offer whether they're a lead or a customer. Now they're called salutation offers because we wrap up a conversation with it. So if the conversation's going well, they're happy, they're asking questions, maybe they Got a problem solved, Whatever it may be, this is an opportunity. When you have momentum, when you have a smiling face, when you have a customer that is satisfied, this is an opportunity. At the end of that conversation in your customer service, email or chat, you can make a salutation offer. Now, in our company, Weather Ninja, we actually outlined about eight different salutation offers because there's a few different scenarios that each offer might apply to. I suggest when you get started, maybe just have a few and test it out. It depends on how complex your business is, how many different kind of profiles or type of customers you have. But let me give you some examples. Let's start with somebody who's not a customer yet, a lead, Somebody who's just asking questions, who's maybe comparing your product, your service, your coaching, your course to somebody else's. If they're having a good conversation, if the conversation is going well with customer service, whether you're doing customer service or somebody else on your team, if they're happy with the answers, this is an opportunity to try to make an offer to give them a reason to buy. Sometimes people just need a reason to buy. And an example of a salutation offer in this situation is, hey, if you're interested in signing up today, I can give you a 15% discount on our plan or on our program. And we tell our agents, we tell our ninjas, we call them in customer support, that they have the authority to give that discount and they can even just be transparent about it. I have this authority to do this. I see that you're interested. If you want to sign up today, I can give you this discount. Now, not every single person that gets a salutation offer is going to take it, but some will. Even if one out of 10 people take it, that's one more than you had before you did salutation offers. That's a 10% conversion. That's, that's pretty good. Another example of a salutation offer is if you have a happy customer that's been using your product or service, maybe is in your community, is paying monthly, you could say to them, hey, I see you've been paying monthly for the last six months. If you switch to annual, you can actually save X amount of dollars. You'll get two free months. In fact, if you went annual, you would be almost paid off for the full year already. Something like that. Will they all say yes? No, but some will. The point of the salutation offer is that many people that interact with your business don't know what you offer. They don't know all the options. They maybe just went on your website based on a recommendation or a review or a blog post or they saw something on social, they signed up, they got started, they're happy. But they don't know that you have an annual plan. They don't know there's a discount when you go annual. They don't know how they can save a bit of cash. The point here is that your job as a business is to make sure your options are presented and not assume that they know all these options, that they studied your website inside and out. Most people don't. The other thing I want to mention about these salutation offers is that it's a win win. You're not telling them to spend more, you're actually telling them to spend less. You're going to save money in the long run, going annual. I'll give you another example of a salutation offer that will help them actually get the most out of your product or service. We run some live workshops. We have some online courses that we sell to help our customers get the most out of our software webinar ninja. One of them is called the Automated Webinar challenge. It's a 30 day video course where I walk them by the hand, step by step. They look over my shoulder in building their very own automated webinar. So if a customer comes to customer support, emails them, chats with them, and is asking questions about automated webinars, a good salutation offer is, hey, do you want a bit of hand holding, a bit of support? When it comes to automated webinars, do you want a step by step guide and plan with templates and procedures and examples and a supportive community? We have something called the Automated Webinar Challenge. You can sign up here. It's $2.99, for example. That's a good example of somebody already expressing interest in something and you're telling them, I have something that can help you. And if you make the offer in a friendly, just helpful way, in a no pressure way, they're just going to take it and say, sounds good. Let me take a look again. Giving them exposure to what you offer.

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It feels good to save big. It feels good to Geico. So how do you start implementing salutation offers? We'll start with just three offers for three different types of customers or leads. Draft this offer, just the copy, you know, a few sentences, and offer them to your team, your agent, your ea, or just have them for yourself if you're doing the customer support. Messages and communication, these are not copy and paste. These are templates that they can modify that you can modify based on the conversation. It's sort of a guideline. It's a way for them to kind of use the language and customize it to fit the conversation they're having with the customer. Next, track how many offers you make. Just literally how many people do you tell them about an offer? Right, so at the end of the month, you know how many offers were extended, how many were taken, and how much revenue you made. It's very important for you to track this, especially for the first few months, so that you can improve and optimize the system. The first thing you're going to be surprised by is like, wow, I made some money doing a very small thing, a little small tweak. But you might realize that one offer is not doing so well. One is doing great, one is doing mediocre. Let's see if we can optimize these offers. Maybe we just remove that offer and replace it with something else. Maybe we're offering this thing to the wrong person. You're going to have to experiment a bit, but it's exciting because you're helping your customer, you're giving them options, you're giving them more value and you're able to get more revenue for your business so you can continue to serve them better. Thanks so much for listening to the hundred dollar ratio. That wraps up today's lesson. If you love what you hear, hit, subscribe, hit follow and give us a rating and review on your favorite podcast app Right now. You want to show us extra love share this podcast on social media right now. Twitter, Instagram, Facebook, TikTok, whatever you like, just let people know that, hey, I'm listening to this podcast. It's called the Hundred Dollar NBA Show. Here's a link. Thanks so much for that. It's a huge help to not only help the show grow, but help other people help themselves to improve their business. Before I go, I want to leave you with this. You don't get what you don't ask for. Sometimes you just gotta ask customers, hey, would you like this again? Not everybody's gonna say yes, but some will. And those people that said yes, they would never say yes. And you would not have this opportunity if you didn't ask. Your job is to make sure you make the offer, that you tell them these things are available, that you ask for the sale. Thanks so much for listening and I'll check you in tomorrow's episode Q and A Wednesday where we answer the question from one of our listeners, am I too nice to be an entrepreneur? Sometimes I feel like I get pushed around, get taken advantage of because I'm kind. I give people a lot of excuse and a lot of slack. But I think sometimes it costs me business. Am I too nice? Powerful question. We'll be getting into it in tomorrow's episode. I'll see you then. Take care. Foreign.

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