Most of us in business have to wear many hats. We are the owner, sales manager, marketing real estate agent, production supervisor, customer service representative, finance manager and janitor along with probably a dozen other less difficult. But as the owner, we are in charge of the health and welfare of our business. So on the next few articles I will provide some answers to your most pressing problems. Problems like: the way to get more customers, getting more money from my existing customer, how to motivate your employees and how to improve the profit margins in the current sales.
This article will give attention to ways to get more money from your existing customers. Regardless of the sort of business you own, customers will be the life blood. Without the customers you don't have a business. So why is it we have so many problems keeping them? Your business aren't live without your customers. We spend hours and hours and hundreds to thousands of dollars attempting to get new customers, but how much time and money do you spend keeping the ones you have? The old saying is that it is easier and cheaper to take care of current customers than it is to get new customers is very true. Existing customers already know your products and services. When they are repeat customers, they are satisfied with your service and quality. It truly is for those reasons that numerous business owners avoid think Press Business about their current customers. You already did all the hard work of getting them and are probably spending your time, money and energy attempting to get new customers. But what are you leaving on the table?
Once you last visited your preferred fast food restaurant, were you asked "would you like fries with that" or "would you like to super-size that"? How about that 99 cent hamburger, did you buy fries and a glass or two to go along with it? The fast food industry does a great job of having us to spend only a little bit more and they do it with high profit items. Think French fries. One of the cheapest kinds of as well as we spend an additional $1. thirty or more when we add it to our meal. How could you take a lesson from the fast food industry? Do you have a long guarantee that you can provide with your product? Think about an addition service that complements the one you are proceeding to perform?
But what if your goods and services don't have something that you can bundle? How do you get the customer to buy more? Well, you could offer them something special that they cannot buy anywhere else in your store. Some special promotional product with your logo printed or embroidered on it. Something no person else has. Parenthetically your average customer sale is $50. Offer them an exclusive item (promotional product) when they spend $75 on any one visit. You have just increased your sales by 33 percent!
What high-profit item to you want to sell more of? Your customers love a bargain, but cutting prices with sales often again fires. So rather than a sale, bundle! Offer a special deal. Buy this lawn mower and weed whacker for the low price of $599 and save 50 dollars! Or buy this coat and get this one of a kind book bag (promotional item with your logo embroidered on it). Bundling is a great way to increase sales and prevent the customer from shopping the competition. Following all how can they compare prices when you are giving them two items for the same price? Even if the competitors has a lower price, there is no way to compare the savings with your two for one deal.