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Will You Add? - Business Tips - The Ultimate Profit Producing Formula
Although I still believe there is a place for advertising as a brand maintenance or brand affirmation tool, I am convinced that to build a brand today, you need PR. At one time advertising did build brands. But this was in a simpler America. That America, sadly, is no more.I’ve been re-reading The Fall Of Advertising & The Rise Of PR, by Al and Laura Ries, and it is their book that has moved me from suspicion of advertising’s demise as a brand-builder to conviction.<
Improving the average transactions per year - your customer may buy from you several times a year, once a year or even once every 7 years. So how could you encourage them to come in more often and buy from you? What other product or service could you offer them?
Whether you are a plumber, a salon owner or a dentist, focusing and improving on these 4 areas will guide you to business happiness and prosperity.
Copy
Whatever business organization is ventured into, the capital gain is what gets the most attention. Business procedures naturally generate a handsome amount of lucrative revenues. Service management is the term used to refer to the administering of serving producing companies. This is largely in contrast with that of the agricultural and manufacturing companies, because the term service management mostly applies to information and technology sectors and at times to auto repa
I see this happening very often in small businesses. The owners start out enthusiastically, then experience all the extra paperwork, organising and chasing that needs to be done and slowly the novelty wears off. For the majority of business owners it gets too hard and they give up, adding to the high failure rate of small businesses in the first 12 months.
It doesn't have to be like that!
There may be some tough times in any small business and there is nothing worse than wondering if you are going to sell something today. Wondering if the sales in the month will be enough to cover the bills. As a business owner you need to know, with a level of certainty, what your income will be next week, next month.
In lean times it may seem that the only solution is to cut costs, like cutting back on the advertising budget. But by cutting back on costs you may save 10% or maybe even 20% but it is far better to improve your income by 50% or 60%? There is a limit to how much you can cut costs but there is no limit to how much you can improve your income.
Take the time and energy that you would normally use to try and save money and refocus it on 4 areas of your business:
- Improving enquiries
- Improving the conversion of those enquiries
- Improving the average transaction size
- Improving the average transactions per year
Focusing on these 4 areas of your small business is guaranteed to ensure success. A 10% improvement in each area will multiply to a huge increase in profit.
Start measuring these 4 areas and keep a record of the results on a weekly basis. Your goal should be to gradually improve all 4 areas by 10% per month.
Improving enquiries - being creative in generating enquiries is the secret to customer attraction. The coffee shop offering a free muffin will win over the coffee shop next door without the free muffin. Find a point of difference... ask yourself "what will make a customer choose me over my competitor?" And when you find your unique selling proposition shout it out in every way you can possibly think of.
Improving the conversion of those enquiries - after all the cost and effort of attracting a customer it's now up to you to sell them something. You need to answer every objection, have a strong risk reversal guarantee with a product and service range for all their needs. Often this area can be dramatically improved in many businesses. I ask businesses what they believe their conversion rate to be and they usually say around 50%... They are always shocked when they start to measure it and it is less than 20%. This is a good thing though, as it leaves lots of room for improvement!
Improving the average transaction size - your total sales over the last year divided by the amount of transactions will give you your average transaction size. Again it comes down to creativity - how can you get customers to spend more. The easiest way is to offer a freebie if they spend over a certain amount. Look at McDonalds with their "Would you like chips with that?"
Improving the average transactions per year - your customer may buy from you several times a year, once a year or even once every 7 years. So how could you encourage them to come in more often and buy from you? What other product or service could you offer them?
Whether you are a plumber, a salon owner or a dentist, focusing and improving on these 4 areas will guide you to business happiness and prosperity.
Copyr
There are several ways to get your information into the decision maker’s hands.Use "The Stealth Mail Method". You've heard the expression if it walks like and duck and quacks like a duck it's probably a duck. Everyday the gatekeeper sorts through the bosses mail just like you and I do. Right over the trash can. If you don't make it into the "A" pile you're done for. So make your mail piece look like a personal letter. Don't use a business envelope that telegraphs "TH
In lean times it may seem that the only solution is to cut costs, like cutting back on the advertising budget. But by cutting back on costs you may save 10% or maybe even 20% but it is far better to improve your income by 50% or 60%? There is a limit to how much you can cut costs but there is no limit to how much you can improve your income.
Take the time and energy that you would normally use to try and save money and refocus it on 4 areas of your business:
- Improving enquiries
- Improving the conversion of those enquiries
- Improving the average transaction size
- Improving the average transactions per year
Focusing on these 4 areas of your small business is guaranteed to ensure success. A 10% improvement in each area will multiply to a huge increase in profit.
Start measuring these 4 areas and keep a record of the results on a weekly basis. Your goal should be to gradually improve all 4 areas by 10% per month.
Improving enquiries - being creative in generating enquiries is the secret to customer attraction. The coffee shop offering a free muffin will win over the coffee shop next door without the free muffin. Find a point of difference... ask yourself "what will make a customer choose me over my competitor?" And when you find your unique selling proposition shout it out in every way you can possibly think of.
Improving the conversion of those enquiries - after all the cost and effort of attracting a customer it's now up to you to sell them something. You need to answer every objection, have a strong risk reversal guarantee with a product and service range for all their needs. Often this area can be dramatically improved in many businesses. I ask businesses what they believe their conversion rate to be and they usually say around 50%... They are always shocked when they start to measure it and it is less than 20%. This is a good thing though, as it leaves lots of room for improvement!
Improving the average transaction size - your total sales over the last year divided by the amount of transactions will give you your average transaction size. Again it comes down to creativity - how can you get customers to spend more. The easiest way is to offer a freebie if they spend over a certain amount. Look at McDonalds with their "Would you like chips with that?"
Improving the average transactions per year - your customer may buy from you several times a year, once a year or even once every 7 years. So how could you encourage them to come in more often and buy from you? What other product or service could you offer them?
Whether you are a plumber, a salon owner or a dentist, focusing and improving on these 4 areas will guide you to business happiness and prosperity.
Copy
Although formal ratification of a new ISO standard for testing colour printer consumables has not yet been completed, manufacturers have started to quote yield figures based on the new system - a sure indicator that the new agreed test methods will not change. Amongst manufacturers adopting the new system are Epson and Hewlett Packard, both of whom implementing it for their inkjet printer ranges.What is the new Colour Printer Yield Standard System?ons per year
Focusing on these 4 areas of your small business is guaranteed to ensure success. A 10% improvement in each area will multiply to a huge increase in profit.
Start measuring these 4 areas and keep a record of the results on a weekly basis. Your goal should be to gradually improve all 4 areas by 10% per month.
Improving enquiries - being creative in generating enquiries is the secret to customer attraction. The coffee shop offering a free muffin will win over the coffee shop next door without the free muffin. Find a point of difference... ask yourself "what will make a customer choose me over my competitor?" And when you find your unique selling proposition shout it out in every way you can possibly think of.
Improving the conversion of those enquiries - after all the cost and effort of attracting a customer it's now up to you to sell them something. You need to answer every objection, have a strong risk reversal guarantee with a product and service range for all their needs. Often this area can be dramatically improved in many businesses. I ask businesses what they believe their conversion rate to be and they usually say around 50%... They are always shocked when they start to measure it and it is less than 20%. This is a good thing though, as it leaves lots of room for improvement!
Improving the average transaction size - your total sales over the last year divided by the amount of transactions will give you your average transaction size. Again it comes down to creativity - how can you get customers to spend more. The easiest way is to offer a freebie if they spend over a certain amount. Look at McDonalds with their "Would you like chips with that?"
Improving the average transactions per year - your customer may buy from you several times a year, once a year or even once every 7 years. So how could you encourage them to come in more often and buy from you? What other product or service could you offer them?
Whether you are a plumber, a salon owner or a dentist, focusing and improving on these 4 areas will guide you to business happiness and prosperity.
Copy
As you know by now, if you have been a long time subscriber to our weekly E-zine, I'm a very big proponent of activity, labor and discipline. In fact I devoted one of the five major pieces to the life puzzle (in my book under the same name) to the subject of activity and labor. But now let me add another key word to the labor equation - skillful. Yes, skillful labor.We need the skills to help build our family's dreams, the skills to stir up an enterprise and make it
Improving the conversion of those enquiries - after all the cost and effort of attracting a customer it's now up to you to sell them something. You need to answer every objection, have a strong risk reversal guarantee with a product and service range for all their needs. Often this area can be dramatically improved in many businesses. I ask businesses what they believe their conversion rate to be and they usually say around 50%... They are always shocked when they start to measure it and it is less than 20%. This is a good thing though, as it leaves lots of room for improvement!
Improving the average transaction size - your total sales over the last year divided by the amount of transactions will give you your average transaction size. Again it comes down to creativity - how can you get customers to spend more. The easiest way is to offer a freebie if they spend over a certain amount. Look at McDonalds with their "Would you like chips with that?"
Improving the average transactions per year - your customer may buy from you several times a year, once a year or even once every 7 years. So how could you encourage them to come in more often and buy from you? What other product or service could you offer them?
Whether you are a plumber, a salon owner or a dentist, focusing and improving on these 4 areas will guide you to business happiness and prosperity.
Copy
Your fund raising letter must persuade the recipient to take an action that much of humanity thinks peculiar: to give money away.To accomplish this seemingly unlikely objective, your appeal needs to be built on the psychology of giving. Forget your organization's need. Instead, focus on the needs, the desires and the concerns of the people you're writing to. Your job is to motivate them.People send money because you ask them to. Public opinion surveys and
Improving the average transactions per year - your customer may buy from you several times a year, once a year or even once every 7 years. So how could you encourage them to come in more often and buy from you? What other product or service could you offer them?
Whether you are a plumber, a salon owner or a dentist, focusing and improving on these 4 areas will guide you to business happiness and prosperity.
Copyright 2006 Ian McConnell
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