Focusing on the positive is very important during challenging times. Today's ever changing economy makes it tough on business owners, but the smart business owner focuses on the positive and asked great questions. One of those being what can I do to increase the revenue in my business.
Start out by taking a close look at what you sell. How profitable is it? Could it be more profitable? Are there additional products or services that you could sell to make more profit? When was the last time you increased your price? These are just a few of the questions you should be asking yourself to increase the profits in your business?
Having the right relationship with your customer is important to the success of your business. It's important to show your customers and clients that you care. We do this by recognizing anniversary dates, birthdays, and sending out holiday cards. You can also send your customer a note when it's been a while since they purchased from you.
It's easier to keep the customers you have that is to get new ones. Smart business owners know that there are only two ways to increase your business, get the customers you have now to purchase more product or purchase more often. Packaging your products or services together makes it easy to increase your bottom line. A dry cleaner might price their shirt services at $1.25 per shirt or $10 for 10 shirts. They could also offer to clean customers close by the pound, which is cheaper and simply charge a monthly membership fee.
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.
Take a close look at your advertising budget. Too many business owners are still paying hundreds of dollars a month for ineffective yellow page advertising. Today, it's easier to Google a business than it is to go searching in the Yellow Pages. a simple e-commerce campaign is easy to do and cheaper 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.
Start out by taking a close look at what you sell. How profitable is it? Could it be more profitable? Are there additional products or services that you could sell to make more profit? When was the last time you increased your price? These are just a few of the questions you should be asking yourself to increase the profits in your business?
Having the right relationship with your customer is important to the success of your business. It's important to show your customers and clients that you care. We do this by recognizing anniversary dates, birthdays, and sending out holiday cards. You can also send your customer a note when it's been a while since they purchased from you.
It's easier to keep the customers you have that is to get new ones. Smart business owners know that there are only two ways to increase your business, get the customers you have now to purchase more product or purchase more often. Packaging your products or services together makes it easy to increase your bottom line. A dry cleaner might price their shirt services at $1.25 per shirt or $10 for 10 shirts. They could also offer to clean customers close by the pound, which is cheaper and simply charge a monthly membership fee.
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.
Take a close look at your advertising budget. Too many business owners are still paying hundreds of dollars a month for ineffective yellow page advertising. Today, it's easier to Google a business than it is to go searching in the Yellow Pages. a simple e-commerce campaign is easy to do and cheaper 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 e-commerce consultant specializing in Twitter 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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