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.
by JayNaPier
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.
Start off by looking at the products and services that you sell. Are you making a profit on them? Are you making enough profit on them? other services you could sell along with the products that would make your company more profitable? how long has it been since you increase the prices for your services and products? Asher cost of doing business has gone up, is now time to increase your prices.
Look for the hidden assets in your business. It's easier to keep a customer than it is to find a new one, so ask yourself "what am I doing to make my customers and clients feel special?" Do you send out birthday cards? Anniversary cards? Christmas cards? What about, may be Thanksgiving cards?
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.
Take a look at your advertising budget. The Yellow Pages has become one of the easiest ways for you to eliminate costs in your advertising. many business owners are spending hundreds of dollars each month to advertise in the Yellow Pages, when most people looking for a business are going online. Today it's easier to Google a company or service that is to pick up the Yellow Pages. People like to key in what they're looking for, press the search button, and have many options to choose from without the hassle of thumbing through the Yellow Pages. a well run each commerce campaign will get much better results for less money.
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.
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