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8 Powerful Tactics To Increase Your Profitability

1. Create Value Added Items / Services to Increase Profit
Increase the average sale by adding a related product or service into a Special Offer. Price this package lower than the total cost of buying each item separately - and promote it as a Monthly / Seasonal / One-time Special.

Don't complicate your special offer by including an option to buy any items separately. Limit customers to simple "buy / no buy" decisions. This will create more sales than confusing the customer with too many what if's.

2. Create Value by Understatement
Avoid claiming your product or service is 'the best' or 'vastly superior'. When your claim sounds inflated, your prospective customers will doubt the truthfulness - and they won't buy. Reduce any bold claims to a more believable level. We always say "Underpromise and Overdeliver".

Express savings claims as odd numbers - believable numbers. For example, "You save 14.5 percent" sounds more believable than "Our clients save 15 percent" ...even if 15 percent is what they actually save.

3. Make Yourself Available
Clients are more likely to buy a product or service from you when they get to know that you are the one responsible. Anser the phone - or at least make sure you are available for as many hours a day as possible. Make it easy for prospects and clients to reach you. Publicize your real name and personal contact information. Include your name, address and phone number on everything you use to promote business ...including your web pages and email messages. Few prospects will actually contact you. But providing the personal information is a powerful way to say you are proud of your work.

4. De-Focus Pricing and Fees
Emphasise the value, the creativity and the essence of the work. Take the client from focusing on the price to focusing on the shoot and the value of it.

5. Provide Contact and Feedback
Answer inquiries and questions from prospective clients asap ...while they are still interested and in the mind to buy. If you find yourself personally answering a lot of the same questions, create an FAQ page on your website. Use your voice mail to direct people to the FAQ page and the web site when they are on hold or leaving a message. Provide any answers as fast as possible.

6. Deal With the Problems
Give complaints priority attention. Unhappy clients can help you grow your business. They can also help negativity destroy it. Complaining clients are giving you an opportunity to resolve their problem and keep them as a customer. The goodwill that can be generated by actually solving a client problem in a timely manner can increase your bottom line. Service is abysmal in the US (as of this writing), and great service gets people talking.

7. Develop a Plan - Then Measure the Outcome
Continually measure the results of your advertising and promotional plans. Testing enables you to make adjustments to improve your total performance. There are many sites on the web that can help you determine the best strategy for testing your marketing. Run - test - run - test... that is the method that achieves the results you want.

8. Increase Each Part of Your Production by 10%
If you get 10% more from each customer and (10% more from each sale), 10% more customers and 10% more assignments from each - there will be a significant increase in your bottom line.

Lets say you have 50 clients with an average sale of $1000 with two assignments from each client (100 assignments @ $1000) That is $100,000 per year.

Now - let's increase each part of your process by 10%.

Now you have 55 customers. (50 X 10% = 55)

Average sale is $1100 (1000 x 10% = 1100)

121 assignments (110 assignments increased by 10% is 121 assignments)

Do the math.... hmmm - hmmmm ...Ok... now look at the figures.

Your new income is $133,100 - over 30% increase by simply adding 10% per process as a goal for growth. If you targeted only 5% per quarter, think of the definite growth in your bottom line. Over a year at 5% per quarter your growth is real and substantial. And adding 5% is a much less daunting goal than increasing your business by 30 - or 40%, yet the end is just that.

Try these ideas. You will succeed.

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