Ep 19 - Insider Secrets to Stopping Profit Leaks

Can you identify the potential leaks in your profit plan? What if I told you there's a solution for every stage of your customer's journey to plug any profit draining gaps. That's right. Tune in today to this episode where I share with you and we discover the 5 stages of the customer journey and how a strategy for each stage can turn those leaks into success. Don't let profits slip through the cracks, CEOs. Join us and amplify your financial game. Are you a successful business owner who has a laundry list of ideas and struggles to achieve your big goals? Welcome to the CEO Amplify podcast. I'm your host, Donna Dube, and my goal is to empower you to drive meaningful change and amplify your profits without they overwhelmed. Join us as we provide actionable solutions for visionary CEOs like yourself to up level your CEO skills, streamline operations, and master strategic prioritization.

Learn how to scale your business to new heights, working smarter, not harder. If you're ready to reclaim your time and accelerate your growth, let's dive in and start this exciting adventure together. Remember, the only limit to your business growth is the one you set for yourself. Welcome back, CEOs. Today, I just wanna share a podcast review which was left by Anna. She says, great time management tips. Just listened to episode 4 on time management tips to create CEO time and found it so helpful. I think Donna speaks such truth.

We have to learn to say no to things because not everything will help to build our businesses in the way we want. Thank you for this motivating and inspiring episode, Anna. Thank you, Anna, for such a lovely review. And if you've been listening to this podcast for any length of and you've resonated with what you've been hearing, I would love, love, love if you could hop over and leave a review. Not only do I enjoy reading your comments, but it also helps to get This podcast out in front of other business owners who can value from it. Alrighty. Let's dive in. Today, we're gonna be talking about profit leaks and how we find them as a business owner or CEO.

And so when I think about a profit strategy, we really want to make sure that our marketing and our sales and Our customer delivery are all working together. Those are 3 main systems in our business, and we need to make sure that we have a strategy so that all 3 of those are working together. We wanna take our potential customers right through the customer journey, and we need a strategy for each of those. If we currently don't have one strategy for each of those 5 areas, which we're gonna talk about shortly. That's when we can see areas for profit leaks. So let's dive in. The 5 parts of the customer journey. I like to start them all with c's so I can easily remember.

Captivate, connect, cultivate, convert, and celebrate. So let's go through each of those. We'll talk a little bit about what they mean. And then of course, where we can look for profit leaks And some questions we can ask ourselves. So first up captivate that is attracting brand new audiences to your world. And the old saying of, "If I build it, they will come," is not how it works anymore, friends. Unfortunately, we have to let people know that we exist. We have to tell people who we are and what we do.

And so there's 3 main ways we can get in front of new audiences and attract new people to our business. The first being in getting in front of other people's audiences. So things like guesting on other people's podcast, presenting in someone's mastermind, speaking on a stage. All those things are getting in front of other people's audiences. The second way is SEO, search engine optimization. While it's a good one, it's a long game. We're not gonna get SEO results overnight. And the 3rd kind is paid advertising.

Again, can be very effective, but we need to have some capital to put in first before we're gonna receive See that return on investment. So I want you to ask yourself out of those 3 buckets, other people's audiences, SEO, and paid advertising. Saying, what is your one strategy for attracting and engaging new audiences to learn about you? I want you to start with 1 strategy, and I want you to get good at it. Honing in on just 1 strategy See, for each of these sections of the customer journey really allows you to get traction and build momentum. It allows you to create a rinse and repeat system that your team and you are comfortable with. It's rolling week after week like a well oiled machine, and it's bringing in new people. You don't have to think twice about how am I gonna bring in new people this week? It's going. It's rolling.

Alright. Step 2, Connect. Or this is how we engage with these new people. So we've just brought new people into our world. They just heard about us. They click something. We want them to stick around. And so, generally, we will give them something of value, a free resource, in exchange for their email address.

So we want to get their contact information so that we can continue to follow-up with them. We know already that 99% of the people aren't going to buy from us they first land on our website or they first hear about us. They're in the research stage. They're trying to get more information, and we need to meet them where they are. So we need to build on what we've already done and give them some value and let them know a little bit about who we are. So in in this stage, you need to ask yourself, how many new clients do I need to engage with each week? How many new people do I need to connect with? So they've heard about me. Now how am I going to start that relationship building with them? And a good thing to look at here is if you're not getting enough clients into your business right now, really look at these 2 stages for leaks in your profit journey because without attracting Enough new people and without engaging and connecting with those new people, you're going to have leaks in your profit. So that's the first place to Start.

Do I have a strategy for both connecting and for, getting in front of new audiences for attracting? Okay. What I like to call Captivate. Alrighty. So those are the 2 steps in our marketing. The 3rd piece of our marketing, which is one you're probably most familiar with. When I think about marketing This is what everyone gravitates to, and I call it cultivating, which is nurturing. It's building relationships with that we now have. It's where we're providing real value.

And friends, this is not about pitching. This is about letting them know more about us, providing value, helping them solve their problems. So for me, I depend on teaching. That's my strategy in in this section, and so I'll strategically teach something new to my audience each and every week, and I use the podcast as a vehicle for that. Other people are different and they would rather inspire and motivate people. So think and do some reflection on what type of person you are and how you want to be cultivating and building that relationship. The key is that nurture content has to be consistent each and every week. You're building trust, you're providing value, and you're showcasing your expertise.

So you can ask yourself, what strategy can I focus on in this area for the next 90 days in my business, making sure I have one strategy that is built, So system behind it, my team knows, I know, and it's running smoothly? Alrighty. Moving on to step 4, convert or invite. So this is now our sales system. So now we're taking a potential client and moving them to a paid client. We're inviting them to join us. So ask yourself, how are you doing this? You actually have to invite clients to work with you. They're not going to know you have something to sell unless you make it easy for them and let them know. So you want to make it easy for them to buy, you want to tell them what you have to offer, what it'll do to help them with what it'll help them with and what the next steps are.

So do you have a plan? Is it emails? Is it social media? What is your plan for converting and inviting people to come and purchase with you? Do you have a set system in place so that each month you know what program product or service you're selling Crossing your fingers is not a plan. Let's be proactive and plan this out And the 5th step of the customer journey is celebrate or delight. And this is where we're doing customer experience. So now we've sold something, and now we are having a system and process in place to help our clients get the results they are looking for. This needs to be intentionally mapped out from day 1, from the time the clients sign the contract with you, and start working with you during the process of getting the result and off boarding and finishing with So you need to go above and beyond what they expected, and when you do, it leads to referrals and reviews. You wanna make sure Your clients are well cared for throughout the whole experience. It's much more than just giving them a gift when they sign on. It's about their customer experience through the whole time they're working with you.

So ask yourself, what is your plan for customer service, customer experience. Do you have an onboarding plan, a process, and a system in place for getting them the results they're looking for as well as an offboarding system when you're finished working with them. And so at the end of the day, we really wanna make sure, are we doing the right things in the captivate, the connect, and the cultivate. So attracting, engaging, and nurturing new audiences. And if we don't have 1 system in place that's solid that we can rinse and repeat, that's where we need to start because that's probably where we're seeing a leak in our predictable profit plan. And this is exactly what we spend time doing, implementing, and strategizing on within my 90-Day Sprint program for CEOs just like you, to help you ensure that you have a rinse and repeat system for each step of the customer journey, ensuring that we're stopping any profit leaks. Alright, my friends. I hope this episode was helpful for you. Until next week.

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