Atlanta Advertising Agencies
If you are looking to use any Atlanta advertising agencies
, also explore these alternatives to increase your profits. This article describes what some other business owners do to grow their business.
There are three ways to increase your profit that I will talk about here:
- increase your sales volume (leaving everything else the same)
- increase your sales price
- reduce your costs.
Getting more customers to buy your products will result in an increase of your sales.
The first technique in getting more sales is developing your relationship with your existing customers.
This will result in increasing the average transaction value of your sales and the number of times your customer buys.
The second method is increasing the number of customers that buy your product by partnering up with other businesses and sharing your client base.
That way you both grow your business influence and create a more dominant market presence.
Increasing your sales price is, of course, another way to raise your profits.
As most business owners, you might think that price is the number one purchase criteria with your customers.
Research studies show however that selection, customer service, quality and confidence in the product/service are usually more important.
And most of the time this means that you are most likely undercharging and earning lower profits than you could.
To overcome this stumbling block all you have to do is persuade customers that your product/service is different. This is called differentiating.
And with that you can then seriously think about increasing your pricing as a way to increase your profits.
You can also offer related up sells to the product that the customer is purchasing in order to increase the value of the transaction.
For example, if you sell fountain pens, sooner or later the customer will need ink, so why not offer an extra bottle of ink with their purchase of the pen at a discounted rate?
That way, they save money while increasing the value of the transaction.
If you sell ink jet printers, offer ink. If you sell shoes, offer shoe polish. And so on.
The idea is to offer the customer something related to the product that they can and will use at a discounted price to save them money in the long run but to increase the current transaction value for you.
Doing so will also save them an additional visit to your site or store, which can save them time or gas money.
Last but not least is to reduce your costs as a way to grow your profits.
I discuss this in detail in one of my other videos that are available at my website.
Most important to remember here is to choose one specific method you want to use to increase your profits and to create a clear step-by-step plan on how to execute it.
Once you have implemented one technique, you can then move on to the next one.
And finally you need to evaluate the method that was the most effective for your business and profits.
That way you know which technique you need to further work on enhancing, systemizing and duplicating to get to even more increased profits.
When spending money on Atlanta advertising agencies, also consider the above methods to increase your profits.
by: mdewitte
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