August 6, 2010
This is going to be one of those "basic" posts that provides some very simple yet profound information that "everybody knows".
However, I'd be willing to bet at least 9 out of 10 business owners are not actively thinking about and operating off what I'm about to share.
And yet THEY ABSOLUTELY SHOULD BE… regularly during the day-to-day managing of their businesses… because these are the only ways to increase business profits.
It's truly amazing how we sometimes have to remind ourselves of the very core basics of what we do in order to quickly and easily make more more money.
I find it's often these elements – the simple base principles and not the fancy techniques – that are the keys to serious profits.
So here we go with…
1. Increase the number of people you sell to – this is simple and just means get more people through the front door and sold to so you have a larger number of customers
2. Increase the size of each transaction – this is making more profit from each sale you make by creating higher-profit products that increase your profit-per-sale statistic
3. Increase the frequency of transactions – this is making more sales to the same person so coupled with #2 above you're continually increasing your profit-per-customer statistic
How simple is that right?
And it's very simple to keep track of how you're doing on each point.
If you just keep the statistics of "Number of customers", "Profit-per-sale" and "Profit-per-customer" you'll always know exactly where you need to improve to boost your current profits.
So let me ask you… how are you doing at each point and how can you increase them right now?
Answer those… then put your answers into action.
I guarantee you'll be taking home a lot more money as a result!
Filed under Business Tips, Direct Response Advertising, Direct Response Marketing