How he 9xed his monthly sales…in <1yr [4 of 7]
Just focus on getting two extra customers.
It doesn’t sound like much of a sales strategy. Definitely not one that can double your sales–unless you only have two customers!
So how are two more customers ever going to make a difference?
With compound gains, according to Juan Martitegui founder of Mindvalley Hispano (MVH).
Juan uses a framework to double his sales, over and over, with mathematical certainty…and it all starts with two extra customers…
I’ll explain how it works in just a minute, but first, check out what his framework did for MVH sales:
He went from $6,500/mo to $58,000/mo…in less than a year. Doubling sales over and over, with mathematical certainty.
“It’s very significant, especially if you take into account we’re selling to Latino American customers, who have no credit card sometimes,” says Juan.
So what’s his secret framework?
First, Juan says all businesses grow by pulling one of four levers:
- Get more prospects to your business
- Convert more prospects into customers
- Increase the transaction amount when they buy
- Increase repeat business (or extend their subscriptions)
So each month, he focuses on growing one of those four areas by 20%.
For instance, he might think, “This month, I want to find a way to convert 20% more prospects into customers. Is it about changing the landing pages, is it about adding a guarantee?”
He picks one method, and tests it.
“Now you are learning and your ideas have structure,” says Juan.
That’s a lot different from the approach most people take, which is more like throwing a bunch of spaghetti at a wall. When you do that, “you do not have the predictability that you will double your business, because you are shooting all over the place,” he says.
But how hard is to pull a lever and improve by 20%? It sounds like a lot…
“Suppose you get 1,000 people to your landing page,” says Juan. “And you get 1% of the people to buy. That’s 10 out of 1,000. From the 990 people that did not buy, you just need to do better with two of them. You can just talk to the designer and say, ‘Improve these landing page conversions by 20% by testing the colors…”
Your challenge right now: In your notebook or Google doc, brainstorm about how you could implement this framework to double your sales.
If you HAD to use this technique, what are the steps you’d need to take? Which of the four levers would you pull first? How would you try to boost it by 20%? Who on your team could run that test?
Take just a few minutes and write down your answers now, while the this strategy is still fresh in your mind.
I loved this strategy, btw. It’s one of those deceptively simple ideas that are so easy to dismiss, but can multiply your current revenue month after month.
-Andrew
Founder, Mixergy