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MYB128: 7 Ways to Increase Average Spend in Your Business

Published 2 months ago
Description

In this episode of the Max Your Business Podcast, hosts Ben Fewtrell and David Carlin unpack why you do not need a constant stream of new leads to grow your revenue. They explore the untapped potential of your existing customer base and the power of focusing on client fulfilment.

Growing your business is not just about expensive customer acquisition campaigns. It is about maximising the lifetime value of the people who already trust you. Ben and David share practical strategies to increase average spend, add real value, and move from being a simple order taker to genuinely helping your clients.

If you are tired of paying high acquisition costs to hit your revenue goals, this episode will show you how to boost your bottom line with the customers you already have.

Episode Highlights:

00:00 Welcome to the Max Your Business Podcast

01:07 Travel catch ups, potholes, and dodging cyclones

04:58 The common business mistake of chasing leads over client fulfilment

07:27 Acquisition costs versus the cost of keeping a customer

09:25 How to calculate your average spend and why it matters

10:55 The McDonald's effect, upselling, and retraining your customers

18:41 Shifting your mindset from taking orders to helping your customers

22:32 Adding value instead of discounting to win the heart share

27:52 Using package deals to increase perceived value

34:58 Increasing your prices and dealing only with A and B grade customers

Key Takeaways:

  • Focus on Fulfilment: Your existing customers already know, like, and trust you. Give them reasons to stay and spend more.

  • Measure Average Spend: You cannot improve what you do not measure. Track your revenue and customer numbers to set clear goals.

  • Ask the Question: A simple upsell or cross-sell can dramatically increase profits without adding acquisition costs.

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