A few weeks ago I was in Bangkok, working with Hire a Hubby, one of the country’s fastest-growing franchise groups.
Over three days I presented a keynote, facilitated an interactive marketing workshop and hosted a best-practice panel — my favourite combination for a conference.
During the workshop I got the ‘hubbies’ to calculate their ‘3 x 3 x 3’.
This is an exercise where you dial up exponential sales results in just three years by focusing on your most loyal, supportive clients.
For the majority of the Hire a Hubby franchisees, it blew their mind and inspired many to take action while they were still in the room!
It works on a series of assumptions that go like this – in year one, your top three clients each refer you three new clients, yielding you nine new clients.
You implement a client nurturing program that results in each of those new clients each referring you three new clients in year two. That means 27 new clients.
What happens in year three? You guessed it – each of the 27 new clients each refer 3 new clients. 81 new clients.
Three years. 117 new clients. Multiply that by your average annual spend and for many of the businesses in the room, it resulted in hundreds of thousands of dollars in new projected revenue.
Why not 3 x 3 x 3 x 3? Well, at a total of 117 new clients over three years, I figure it gets harder to scale it at that point.
So what’s your 3 x 3 x 3? Think about your top three clients and how they may well be the gateway to you unlocking the true growth potential in your business.
If you’d like to explore ideas on a customer nurturing program that’s right for your business, click here to book your complimentary 20-minute zoom call with Amanda. Spaces are limited so get in quick.