The focus of this article is on making more money. I think we can all agree that making some more money is a good thing. Helping us along on this journey is none other than mega icon Sylvester Stallone.
Way back in the early 70’s, a young man named Sylvester Stallone was trying to make it as an actor. His claim to fame at the time was a small role in the film called The Lords of Flatbush – a coming-of-age story set in the ‘50s.
The role got Stallone some attention – but little else. To Hollywood, he was just another bit actor trying to become famous in a crazy profession.
During those struggle years, Stallone met producers Irwin Winkler and Robert Chartoff at a casting call. Stallone wasn’t right for the part, but on the way out, he did something that would change his life.
As he was leaving, Stallone stopped and said, “I don’t know if it matters, but I also do a little bit of writing.” Both men seemed interested.
Stallone continued, “Yeah, I wrote this story about boxing.” Winkler said, “Why don’t you bring it around…”
The Did You Know Approach
What Stallone did is called the Did You Know question and it’s effective in business because it gives buyers another reason to buy from you.
We all know it’s much easier to get existing customers to spend more with you than it is to get new customers to start spending with you, right?
And one of the best ways of getting your customers to spend more is to simply talk about the services you provide.
I know. I know. Right about here you’re thinking, my customers already know all about all the products I offer.
Sorry to burst your bubble. They don’t.
Even if you have told customers over and over…they forget. That’s why the Did You Know tactic works.
Here are some examples:
- For a digital marketing agency:
- Did you know we also handle digital marketing as well as website design and development?
- For a personal coach:
- Did you know I also do group events both Zoom and in-person?
- For a B2B business:
- Did you know we also have a service department in the event you need ongoing maintenance?
You get the idea.
Just let people know the other services you provide and by taking that one little step, you are going to make more money.
The Reverse Did You Know (rDYK) Approach
The Reverse Did You Know asks the customer: What else do they need? It works because there’s always something more your customer will need.
Business growth consultant and best-selling author, Alex Goldfayn provides some examples of the rDYK questions for customers:
- What other products (or services) do you need for this project?
- What other projects do you have coming up that I can help you with?
- What else do you need to be quoted?
- What are you having trouble sourcing?
- I will have a truck in your area tomorrow, what else would you like me to add?
Goldfayn claims that after over 15 years of asking rDYK questions, four out of five times clients will name multiple additional products and services they need.
Now, that’s a pretty good hit rate and opens a TON of possibilities. And the best part – it takes no effort! And costs nothing to implement.
More money at no additional cost.
A Winning Formula
Back to Stallone.
He did bring that script around and he also went on to star in Rocky. Fun fact the original Rocky became the highest-grossing movie in 1976.
At one point, in the negotiation for the script, the studio offered Stallone $25,000 for the rights. Stallone held off and ended up getting a million dollars for the script, plus a cut of the box office profits. Plus, plus, he ended up starring in the film.
Believe it or not, the studio was considering Ryan O’Neil or Robert Redford for the role.
Today the entire Rocky/Creed franchise is a multi-billion-dollar piece of intellectual property!
The business is there. Sometimes all you need to do is ask.
