Denny Lee offers the following royalty-free article for you to publish online or in print. Feel free to use this article in your newsletter, website, ezine, blog, or forum. ----------- PUBLICATION GUIDELINES - You have permission to publish this article for free providing the "About the Author" box is included in its entirety. - Do not post/reprint this article in any site or publication that contains hate, violence, porn, warez, or supports illegal activity. - Do not use this article in violation of the US CAN-SPAM Act. If sent by email, this article must be delivered to opt-in subscribers only. - If you publish this article in a format that supports linking, please ensure that all URLs and email addresses are active links. - Please send a copy of the publication, or an email indicating the URL to [email protected] - Article Marketer (www.ArticleMarketer.com) has distributed this article on behalf of the author. Article Marketer does not own this article, please respect the author's copyright and publication guidelines. If you do not agree to these terms, please do not use this article. ----------- Article Title: 10 Simple Ways to Increase Your Business Income Author: Denny Lee Category: Word Count: 1033 Keywords: increase sales, grow sales, maximise sales, more money, more cash, more profit, increase profit, Author's Email Address: [email protected] Article Source: http://www.articlemarketer.com ------------------ ARTICLE START ------------------
Do you find yourself struggling, week after week, making enough money to live on? Imagine, what you could do if you made just a little more money each week. Would you: a]Buy a new car? b]Buy a new house? c]Go on a real holiday? d]Send the children to a better school? e]Pay more off your debts? As a business owner you have some control over how much you make. It is your choice!! One way to increase your business income is to increase your sales [also known as revenue or turnover] There are many different techniques to increase your sales, however 10 of the more common strategies are: 1.Increase the price of the products you sell. This may seem like a simple solution, however, many business owners do not consider this approach. Many business owners are concerned that their clients will not pay the higher price or even that they will lose clients. This concern means the business owners believe that their clients come to them only because of price. The business owners are ignoring the clients they retain because of their relationship, their service, their convenience, or their advice. Research indicates that many clients will not object to minor price changes. So why not consider a 10% increase in price on a regular basis? It is never wise to judge how much someone else is willing to pay for your goods. 2.Send out Reminders to your existing clients. You should send reminders to your clients to encourage them to do business with you more frequently. Ideally, the reminders will be triggered by an anniversary or a scheduled service date. I have seen this approach used by doctors, dentists, automotive repair shops, optometrists, etc.. Pharmacies have also adopted a similar approach by storing the medical prescription at the pharmacy so the clients keep returning to the same store. If you get more of your clients to shop more frequently with you then you can significantly increase your income. For example, if 1 client has one transaction for $100 in January and comes back 6 months later with another $100 transaction you have doubled your income [assuming the client would not normally return]. 3.Sell more products to your clients. This can be achieved by selling complementary products together with the main product line. For example, footwear stores selling polishes and brushes with their footwear. This can be done by automatically offering these products with every sale or, alternatively, having a checklist for your staff and clients to use as a prompt to ensure the client has all their needs satisfied. An additional $1 on every $10 sale is an increase in turnover of 10%. This means if your current sales total $500,000, it will become $550,000 after a 10% increase. 4.Have your business associates promote your business to their clients. This strategy is designed to increase the number of clients you have. A recommendation from your business associate is likely to provide a better, warmer lead than one sourced through standard methods of business promotion. With your associates recommendation your prospects are more likely to buy from you and consequently produce more sales for you. 5.Broaden your range of complementary products and substitute products. Increasing your product range gives your clients more choice so they do not go to your competition to see what they have to offer. A broader range also allows different price levels to be covered and also allows your sales staff to provide comparisons between products and have the client identify with a product that more closely matches their needs and making the job of your sales staff much easier. It is far better to offer 2 different well known brands than to say we only have XYZ brand. 6.Display in a high profile position high profit margin impulse buy products. These products include drinks; snacks and confectionary. If positioned correctly, and even promoted by sales staff, they can lead to an increase in cross product sales. 7.Increase your sales conversion rates by offering free gifts or service guarantees. Benefits such as free gifts or service guarantees remove the risks of purchasing from you that a client may have. It is important to make clients more comfortable and increase the likelihood they will buy the product from you. If you can increase your conversion rate you will increase your sales. 8.Recruit staff with the right attitude and train them in appropriate sales techniques. This is possibly the most important way to increase your sales particularly in sales where the client has to make a decision about the purchase. Clients make decisions when the purchase is not one that could be considered an impulse purchase. Correctly trained staff will not only help you achieve the sale now but can also produce repeat business from your client. 9.Undertake networking activities. If you are to raise your sales it is helpful to participate in networking functions. Networking will raise your profile, it will increase word of mouth referrals [because people actually know you] and it will increase your sales. It is also helpful to network with people who are Centers of Influence. Centers of Influence are people who are exceptional networkers with a wide range of contacts and have the ability to recommend your services. Alternatively, you can network with people who have sizeable client bases who can also recommend your services. 10.Undertake a communication program with your clients which mentions the services you offer. All too often, clients only think you sell the product that they have previously bought from you. They do not consider that you may offer a particular product or even that you may have added the product to your product range. Clients need to be told repeatedly so you become the first choice for any of their products. Part of the reason for needing a communication program is that clients often only see and hear products that they need at that particular time. Unless you communicate your services regularly, in a range of ways, your existing clients may not even consider you when their next need arises. An appropriate communication strategy will increase your sales. While 10 methods of increasing your income have been given there are many other ways of achieving this result. Interestingly, a small change in each area can lead to significant increases in your total income. Denny Lee has 30 years experience in the finance industry and holds a number of tertiary qualifications. Denny Lee is the author of the Making Money Manual, a free subscription service that is distributed by email weekly. If you wish to subscribe go to http://www.makingmoneyhelps.com today. ------------------ ARTICLE END ------------------ [Non-text portions of this message have been removed]
