How to increase business profit

Conversion rate (ctd)
22  Convenient payment scheme
(NETS, Credit card)
23  Offer installment schemes with
zero interest
24  Allow mail order/home delivery
25  Address concerns/possible
objections upfront
26  Sell on value not price
Number of Repeat Business
1  Direct mail offers of the month
2  Keep in touch every 3 months
3  Inform your clients of your entire
range of services
4  Target likely repeat customers
5  Send special occasion cards
6  Make customers feel special
(super experience)
7  Build a close relationship
8  Create a loyalty program
Average Dollar Purchase
1  Focus on a higher income
target market
2  Use a shopping list
3  Sell add-ons/up sizes
4  Make sure your client knows your
full range of services
5  Suggest most expensive fi rst
6  Create value packages
7  Buy three get one free deals
8  Ask people to buy some more
9  Increase prices by 10%
10  Arrange easy fi nance and payment
11  Free gift/lucky draw with
$xx purchase
Net Profi t Margins
1  Increase prices
2  Sell on value/service than
price/discounts
3  Set monthly budget targets
4  Track costs weekly and aim to
reduce by 10%
5  Stop running ads that don’t work
6  Sell more higher margin items
Leads
1  TV, Radio or Newspaper advertising
2  Industry newsletter advertising
3  Internet/email advertising
4  Magazine advertising
5  Outdoor advertising
6  Flyers
7  Hold a promotion or sale
8  Ask for referrals
9  Offer a free gift
10  Insert into other company’s invoice
11  Letterbox fl yers
12  Sales teams
13  Telemarketing
14  Buying or swapping database
15  Hold seminars, events or roadshows
16  Attractive window display/video
17  Posters and large signage
Conversion Rate
1  Defi ne your unique selling
proposition
2  Set sales targets
3  Have excellent customer service
4  Introduce yourself
5  Survey your past customers
6  Sell key benefi ts passionately
7  High quality in store
posters/brochures
8  In-store sales scripts
9  Act as a consultant/problem solver
10  Give a money back guarantee
11  Have a benefi ts/testimonials list
12  Give free bonuses that
increase value
13  Greet prospects and use their name
14  Learn closing techniques
15  Ask for the sale more than once
16  Personal grooming/high
dress standards
17  Video in store displays
18  Leave price to last
19  Study and prepare for objections
20  Have specialized knowledge about
your product & industry
21  Focus on the client’s needs and
emphasize benefi ts
Strategies to Increase Your Business Profi ts