While many business owners are focusing on news and recession, profitable business owners are focused on how to improve their business. having the right focus for your business will make a difference between failure and success in these challenging times.
Take a close look at what you sell the services and products and see what you can do to make those services and products more profitable. It might have been years since you've increased your price, so now's a good time to do so.
staying connected with your customers and clients is important to every business. It easier to keep a customer than it is to find new ones. What are you doing to thank your customers for their business? Are you sending out Christmas cards? Anniversary discounts? what about wishing your customers a happy new year and letting them know that you're not increasing your prices for the new year?
There are two key ways to increase your profits and your revenue in business. Get the customers you have too purchased more or more often. One of the easiest ways to increase your revenue is to offer a package deal. Let's say you own a lawn care company and your average customer gets their lawn mowed 20 times per year. if you're charging $40 per cut, that customer is worth $800. Now, let's look at a package option. At the beginning of the year, offer to cut your customers lawn for $700 for the entire year. This is not only a good value for the customer, but it also locks that customer into your services for the entire year.
It's a great idea to offer bonuses with a purchase. Our company gives away free Flip Mino HD video camcorders with purchase of our monthly video marketing program. a dry cleaner might give away a free lint roller with every $50 in cleaning.
Where you advertise is just as important as how you advertise. Many business owners are still using the Yellow Pages to advertise their business, but I ask you one key question: "When was the last time you picked up the Yellow Pages?" These days most customers go online to find listings for businesses it's much simpler to Google a business and find what you're looking for than it is to go out and find the heavy phone book and flip through all the pages. a well-run e-commerce campaign can get you better results for less money than the Yellow Pages.
Do you have a customer list? If not, now is the time to do one. Four years direct marketers have sent out marketing pieces to announce new products, new services, special sales, promotions, and remind customers that it's time for a visit to the doctor. Today's list builders use technology instead of direct mail. It's cheaper and more effective. You can easily use this technology when you've had a slow week. Simply, send out a quick e-mail with the details on a special, silent promotion giving customers a 20% discount this week only.
A buy local campaign is one of the best options to bring attention to your business and the many others in your area. The objective is to simply remind local residents of your business and the many great businesses that make up your community. Start with your own business and family first, commit to buying everything you can from a local business owner versus a big box retailer. While many chambers of commerce promote the idea of buying local, if you invest in the marketing that would support such a great idea. Build a group of 50 to 100+ business owners who'll commit to help promote a local portal designed for your community. Each business owner will put a sign in their window that notes the website and the buy local logo that associates you as a part of the local community campaign. "A recent study found that for every $100 spent in a chain store, $14 went back into the local economy. For a locally owned business, it was $45," , says Stacy Mitchell author of"Big-Box Swindle.
When you consider your options are sink or swim, I've always found that swimming is a lot more fun.
Take a close look at what you sell the services and products and see what you can do to make those services and products more profitable. It might have been years since you've increased your price, so now's a good time to do so.
staying connected with your customers and clients is important to every business. It easier to keep a customer than it is to find new ones. What are you doing to thank your customers for their business? Are you sending out Christmas cards? Anniversary discounts? what about wishing your customers a happy new year and letting them know that you're not increasing your prices for the new year?
There are two key ways to increase your profits and your revenue in business. Get the customers you have too purchased more or more often. One of the easiest ways to increase your revenue is to offer a package deal. Let's say you own a lawn care company and your average customer gets their lawn mowed 20 times per year. if you're charging $40 per cut, that customer is worth $800. Now, let's look at a package option. At the beginning of the year, offer to cut your customers lawn for $700 for the entire year. This is not only a good value for the customer, but it also locks that customer into your services for the entire year.
It's a great idea to offer bonuses with a purchase. Our company gives away free Flip Mino HD video camcorders with purchase of our monthly video marketing program. a dry cleaner might give away a free lint roller with every $50 in cleaning.
Where you advertise is just as important as how you advertise. Many business owners are still using the Yellow Pages to advertise their business, but I ask you one key question: "When was the last time you picked up the Yellow Pages?" These days most customers go online to find listings for businesses it's much simpler to Google a business and find what you're looking for than it is to go out and find the heavy phone book and flip through all the pages. a well-run e-commerce campaign can get you better results for less money than the Yellow Pages.
Do you have a customer list? If not, now is the time to do one. Four years direct marketers have sent out marketing pieces to announce new products, new services, special sales, promotions, and remind customers that it's time for a visit to the doctor. Today's list builders use technology instead of direct mail. It's cheaper and more effective. You can easily use this technology when you've had a slow week. Simply, send out a quick e-mail with the details on a special, silent promotion giving customers a 20% discount this week only.
A buy local campaign is one of the best options to bring attention to your business and the many others in your area. The objective is to simply remind local residents of your business and the many great businesses that make up your community. Start with your own business and family first, commit to buying everything you can from a local business owner versus a big box retailer. While many chambers of commerce promote the idea of buying local, if you invest in the marketing that would support such a great idea. Build a group of 50 to 100+ business owners who'll commit to help promote a local portal designed for your community. Each business owner will put a sign in their window that notes the website and the buy local logo that associates you as a part of the local community campaign. "A recent study found that for every $100 spent in a chain store, $14 went back into the local economy. For a locally owned business, it was $45," , says Stacy Mitchell author of"Big-Box Swindle.
When you consider your options are sink or swim, I've always found that swimming is a lot more fun.
About the Author:
Jay NaPier is an internet marketing consultant specializing in Article Marketing, Video Marketing and Text Message Marketing NaPier is also the Founder and Owner of Live! White House, a White House, Tennessee Directory.
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