Three incredibly simple ways to increase your profits without spending any more money!
Have you ever heard the advice given by some of the top small business marketing mentors/coaches and consultants, which goes, “don’t make business difficult?’ And of course you’re wondering out loud, how the heck is that type of totally generic advice, supposed to help you increase your profits?
It’s really quite simple; boil it down (as far as you can) and take the simplest necessary steps you need to take, in order to start generating (and or) creating the precise results you want.
For ex: you’re trying to generate more and more profit correct? And you’re trying to do so for the least amount of upfront out of pocket expense, correct? Then by all means, do read on to discover how! (And who knows, maybe you’ll discover some simple, proven evergreen marketing strategies to implement from now on, along the way!)
How To Increase Your Profits Right Now!
(Without Constantly Having To Spend More Money!)
Granted; certain strategies may not be viable for you now (especially) if you’re just starting out and money and other valuable resources are a little tight. Meaning- you may not be able to simply try and increase your current number of customers or clients.
But even if you can afford to pursue this type of traditional marketing strategy, you definitely need to be aware that, simply adding more customers to business and or practice, can also be a long term recipe for disaster, if it’s not done correctly!
Because remember, initially (on average) that brand new first time customer or client (unless) they’re a referral, will probably cost you about 500% more than usual! and it takes a look of repeat sales before you break even and or start to show you a profit!
so if they only buy once, you’ll probably lose money, so you want to extremely careful about simply trying to add more first time customers or clients.
Three Incredibly Profitable Ways To increase Your Profits Really Fast!
(Without Necessarily Having To Spend More Money To Do So!)
Without getting to bogged down in the math (and causing readers eyes to glaze over), here are three incredibly simple, proven ways to increase th long term profits of (practically) any business, product or service!
And it’s definitely not brain surgery! nor does it require an MBA from the prestigious Harvard Business School!
1.) Strategy # one: Simply put; as often as you can without attempting to slam dunk your best customers and clients, find and implement strategic ways to increase their average order size.
Because if they go from spending $38.75 on average, to spending $45.97 per average sale ( or more!). My friend, you just increased your daily, weekly and or monthly gross profit margins by an additional 16%!
Without adding anything extra to your upfront fixed cost! (and of course, if they spend even more on average, your percentage increases will be even better!)
2.) Strategy # two: And while your at it, work on proven ways to get your best repeat customers and clients to increase the number of times per week, month, quarter or year, that they buy from you!
Sounds simple enough, but boy is this one incredibly powerful when implemented correctly.For ex; if 50 of your best customers, typically spend $50 dollars each visit, and they go from visiting your store or website twice a month to doing it three times per month.
You’ve just added an additional $2,500 dollars per month to your bottom line to an additional $30,000 dollars per year! (50 customers that spend $50 each = $2,500 extra per month x 12 months = an extra $30,000 gross per year! (Minus your minimal cost to produce it of course.)
Email and or text messaging to the rescue.
3.) Strategy # three: Systematically increase your customer and or client referrals, because now you’re leveraging your best repeat customer and clients social influence.
Obviously, this particular post is outlining the overall general concept and not about implementing the specific tactics and strategies, used to accomplish it.
That said, that’s how to increase your profits, without having to constantly putting more money!
List at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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And be sure you grab your explosive free 22 step small business marketing idea kit series, because it will help you increase your profits by at least 25% in the next 90 days or less.
And help you master your effective communication in marketing skills.(No matter what your particular niche market is.)
It’s a $97 dollar value and it’s free!
