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SUCCESS-Icles
Articles
Written for YOUR SUCCESS
10 Ways to SAVE
& MAKE More Money in Your Business in 2006
Don’t you just love Paul Simon? The lyrics to his songs are not only
pleasing to the ears, but can be inspirational. Imagine yourself
enjoying the warm autumn sunlight while listening to Paul's song, “50
Ways to Leave your Lover”. Now, stretch your imagination just a bit and
think about how many "Ways" you can come up with for saving and/or
making more money in business...
“The
problem is all inside your head
She said to me
The
answer is easy
If you
take it logically”
So,
let’s look at the problem logically for a minute. Here are four basic
ways you can increase your profits:
1. You can charge
more for your products or services.
2. You can sell more of your products or services to your existing
clients.
3. You can find additional clients.
4. You can find ways to cut back on your business expenses.
"Slip Out the Back, Jack" (Simple
ways to save money):
So, if you’re on a shoestring budget (and who isn’t these days?), then
obviously you need to do everything you can to save as much money as
possible, and make as much money as possible, as quickly and easily as
possible. Here are 10 simple ideas you can use:
1. Know your target market. Who are your “ideal” customers?
Where do they shop? What do they read? What solutions are they looking
for that your business provides? The more you know about your
customers, the better you’ll be able to target your promotions towards
them, which will increase your bottom line two ways – it will save you
spending money on advertising that doesn’t work, and it will increase
your sales, because you’re offering your customers what they really
want.
2. Get double duty out of any contact with your customers. If you sell
products, put your contact information on everything –products, bags,
invoices sales receipts. Make it easy for everyone to find you. Give
away something free. If you have a Website (and if you don’t, then get
one), give your customers something for giving you their contact
information. Free Ebooks, reports, or software are all good choices
(just make sure it’s relevant to your customers). Anytime you send your
customers anything – a product, a newsletter, an invoice –include a
coupon or information about your latest products or services. To save
money on postage, if you have a brick and mortar store, put a copy of
your latest newsletter or an informational flyer in your customer’s bag
after each sale.
3. Reward your customers. Set up a reward program. Offer them a reward
for anyone they refer who becomes a customer. Or give your customers a
free gift when they spend $50 (or whatever amount makes sense in your
business). When they’re eligible for the free gift, offer them an
upgrade to something bigger or better for a few dollars more. Start a
customer loyalty program. Provide “customer only” sales, or promotions.
Let your customers earn points, or “magic money” that they can use to
redeem your products or services.
4. Get ready for your close-up. When you’re brainstorming about
creating a promotion or advertising campaign, don’t forget about your
local cable TV channel. You may be pleasantly surprised by how low
their rates actually are. Create your own television commercial or
infomercial. Although you may not be ready for prime time, you can
still target your ad to reach your customers.
5. Get involved in your community. Find a nonprofit organization that
is doing work you believe in, and either publicly support their
program, or be one of their sponsors for an upcoming event or
fundraiser. Use the advertising spot to let people know about the
fundraiser (and, incidentally, your business). You could put together
an inexpensive ad campaign that will help those in need, increase your
visibility and let your potential customers know that you're supportive
and aware of the needs of the community.
“Make
a new plan, Stan” (Business Planning Basics):
6. Beef up your business plan. If you don’t have a business plan, make
writing one a priority. Your business plan is more than just a way to
interest investors. It’s a road map that will help you get from where
you are now to where you want to be. That old saying, “If you fail to
plan then you’re planning to fail” really is true when it comes to
business.
"No
need to be coy, Roy" (Ask your customers):
7. Get testimonials from your satisfied clients. But don’t stop there.
What about creating your own television commercial that you can run in
your store? (With a video camera and a little ingenuity, you could even
create your own infomercial that shows customers how to use or get the
most out of your products or services. If you’ve got a Website, put an
audio testimonial on there. (And don’t forget to include pictures).
8. Speak up. Again, keeping in mind who your ultimate ideal customers
are and what their most pressing problems are, write an article, offer
a free seminar, or offer to be a speaker at local chamber of commerce
or other organization or community meetings. Being perceived as an
“expert” is a relatively easy and inexpensive way to get the word out
about your business, and bring in more customers.
"Just
hop on the bus, Gus" (Expand your business potential)
9. Create joint ventures. Even if your primary business is a brick and
mortar one, you can still create a joint venture that will help you
save money by sharing the costs for advertising. What about creating a
special “sidewalk sale” with other business owners on your street or in
your neighborhood? Or finding businesses with complementary products or
services to yours, and creating a “package deal”? If your business is
only online, look for ways you can partner with other businesses –
maybe you could create solo ads and promote each other’s products or
services in your mailing lists. There are a lot of ways you can save
money and increase your client base if you’re willing to get creative.
"Just
drop off the key, Lee" (Provide the key solutions)
10. Let your customers know you know what their problems are. It's sad
but true that your customers don't care how good your products or
services are. They only want to know two things: do you understand what
their problems are; and can you solve them. Give your customers the
"key" to their problems, and you'll have evangelistic customers who
come back again and again.
-Brad Ross
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This article may be distributed freely on your website, as long as
this entire article, including links and this resource box are
unchanged.
Copyright 2006 Brad Ross All Rights Reserved.
MakeMagicMoney.com
http://www.MakeMagicMoney.com
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