Increase Just 12 Areas in Your Business by a Meager 1.4% and Your Profits Will DOUBLE!
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In the last post we outlined three more ways you can work on maximizing your current resources. They included:
Today we’ll highlight the final three areas you can work on to maximize your current resources. They are:
Presenting An Offer They Can’t Refuse
One of the secrets to success is remaining ahead of your competitors to maintain a competitive edge. In order to accomplish this, you need to make it easier for your customers and/or clients to say “yes” rather than “no”. This can be achieved by eliminating all the psychological, financial, physical, emotional and other roadblocks they present you.
You can eliminate perceived risks for your customers and/or clients by offering warranties and guarantees that make them feel more confident in you, your business and your products and/or services. You must be serious about your offer and prepared to honor it in the event that your customer is unsatisfied with a product and/or service. The quickest way to the bottom is by playing games and not honoring your promises with your customers and/or clients.
Upselling: “Would You Like Fries With That?”
Upselling is the oldest trick in the book. Honestly, how many times a week do you fall for it? Every time you sell a product or service, you should be offering an add-on, upgrade or back-end product to go with that initial sale. In order for this strategy to be successful, the products must be complementary to the original product being purchased and must create an overall higher perceived value to your customer.
Avoiding the Edge of the Cliff
Continuing to test and measure your systems, products, marketing methods and all other aspects of your business allows you to see problems before they arise, and ultimately, avoid falling off the edge of the proverbial cliff.
Here are some specific areas you can explore for potential improvements:
By examining these different areas, you may find prices of products and/or services that should be increased, others that should be lowered or offered as an incentive, and even some other key areas in need of improvement to better utilize your current resources.
This wraps up our series on how to maximize on your current resources. Please reach out to me if you need assistance with any of these strategies.