Who Says You Can’t Increase Your Gross Profits With Extremely Limited Resources!

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Who Says You Can’t Increase Your Gross Profits With Extremely Limited Resources!

If you’ve been in business for any length of time, you definitely know it’s possible, (and at times), highly probable, you can steadily increase your sales revenue, but not necessarily increase your long term gross profits, correct?

Especially if your semi resourced challenged small business and or service,is only focusing on the front end of your sales funnel.

Because for any number of reasons, you still haven’t fully developed the back end or your business or service yet.

Believe it or not, your failure to do so, is putting some totally unnecessary strain, on the potential long term growth of your business and or service.

The remainder of this particular post is dedicated to, demonstrating how you can not only generate more sales faster, but increase your long term gross profits too.

Developing A Gross Profit Margin Formula Is A Great Place To Start Improving The Health Of Your Business!

Say for example. You run a single location bakery. And you specialize in some extremely great tasting, exotic gourmet donuts, pastries, bagels and exotic coffees and teas etc.

And your ideal customers stops in at least 3-4 times per week and usually spends, anywhere from $5- $8 dollars per visit.

And they’ve been doing so, for the last six or seven years. Which means your ideal customer, has a fairly size able, total lifetime customer value metric.Don’t you agree?

This being the case. You can and definitely should, target your most loyal customers, who routinely spend over $7 (or X amount of dollars) per visit, at least a couple of times per week.

Increasing Your Gross Profit Percentage Doesn’t Have To Empty Your Bank Account!

So you could easily take two of the traditionally slowest days of the week and give every customer who spends over X amount a dollars, any large beverage of their choice, for just $1.29.

When it would normally cost $4.79 dollars or X.  😀 Your regular customer will definitely love it.

And they’ll enthusiastically help spread the word, both on and off of social media. Right? For sure.  😀

Here’s the other thing. Typically, you’ll read about another extremely marketing savvy entrepreneur, who because their ideal customer has a rather large, total lifetime customer value metric.

They’re more than willing, to invest X amount of dollars, leveraging another non directly competing vendors customer base.

You Can Definitely Increase Gross Profit As Percentage Of Sales Volume Improves!

You can actually take a two pronged approach.

1.) Potential marketing approach #one: First, let’s suppose you inexpensively test, to see what potential long term affect, giving the 1st 10-20 customers, (initially) a large cup of coffee, free with any purchase over X!

Or just charge them your actual hard cost, for a large cup of coffee, (and or) large beverage of their choice, between the hours of X to X.

Again, you initially test what, (if any) type of long range positive affect, this low hanging fruit marketing approach will have, on your traditionally slowest days of the week.

2.) Potential marketing approach #two: Next, you can and definitely should, steadily develop some battlefield tested marketing strategies or tactics,which initially target local small business owners and or service providers.

And start by giving your small business owners/service provider owners, discounts off  purchases of at least a dozen donuts, pastries, bagels or more.

And by extension, offer them periodic special discount coupons, to give to their employee/associates.

By Periodically Performing Customer Lifetime Value Analysis Will Definitely Open Your Marketing Eyes To Some Previously Untapped Possibilities!

Piggybacking off the last point.Let’s say there are at least 15 or 20 local small business owners and or service providers, (to begin with) who’ve been incredibly loyal customers of yours for years.

By extension.Both the managers and periodically changing employees/associates, can very inexpensively, be converted from one time customers, into long term repeat customers.

For ex: you give the owners of these local businesses, periodic, extremely time sensitive discount coupons and or gift certificates, to give away to their brand new employees/associates, who’ve been with company their first 90 or X amount of days.

And give them to customers, who are celebrating the birth of a 1st, 2nd or third child etc.

Give them away, to the owners, so they, their managers and or employees, can celebrate their wedding anniversary. 😀

The Steady Growing Of Your Business And Or Service Is Matter Of Strategic Networking!

Are you starting to smell the long term, untapped marketing possibilities here? Say yes!  😀

These local entrepreneurs, can also use them to celebrate, the grand opening of their new or second location.

Or give them away annually, to their very best customers and or vendors, they’ve been doing business with for years.Right?

They can them away, for national secretaries day. And or give them away, when their associates decide to retire and or relocate.

Think about the potential,viral positive word of mouth and mouse buzz, these type of small, yet meaningful gestures will have.

Who Says You Can’t Grow Your Bakery Business Without Relying On Outrageously Expensive Traditional Advertising Methods!

Not only to your immediate employees and or associates.But by extension, all the local people, within their professional and inner circles.

Remember, some of these individuals, are single parents with kids, are they not? Others are happily married couples with kids, correct?

Either way, kids have annual birthday parties and other celebrations, do they not?

Well, why shouldn’t your bakery be their primary source, for those types of extremely great tasting goodies! Right? 😀

You’ll have to do far less traditional advertising, and you’ll continually grow your sales and net profits a whole lot faster.

Starting And Growing Your Business Can Be Far More Likely With The Right Marketing Strategies And Or Tactics!

Case in point. Obviously, not every potential first time customer, who samples your extremely great tasting wares for the very first time, will automatically convert into, a long term repeat customer, correct?

But here’s where the the vast majority of your would be local competitors completely miss, a potentially profitable opportunity, which could have easily fallen into their lap.

Even if as little as 3 out of ten, or 30% of the initial 1st time customers, develop into some extremely loyal, long term repeat customers and local goodwill ambassadors to one degree or another.

By carefully monitoring your numbers of converts, from 1st time customers, into repeat customers.

Especially your business owner customer base. Now you know and can project, with a fair amount of marketing certainty.

For every 1,000 (or X number) of potential first time customers, who sample your outstanding tasting gourmet goodies. Typically about 30 (or X%) of them (or more) will become a repeat customer of some kind.

So hopefully going forward you can now better appreciate how and why, you can definitely increase your long term gross profits, on both the front and back end of your business and or service.

Even if you are initially starting out, with some extremely limited resources. Don’t you agree?

P.S.Now as is customary during this part of our show.

Please share your extremely valuable comments (in the comments section below) that you can

apply to your business, product or service in the next 30 days or less!

As always, if you got any value out of this post, please Google Plus or tweet this.Thanks!

And be sure you grab your explosive free 22 step small business marketing idea kit series, because it will help you increase your gross profits by as much as 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!