Increasing profits is an issue that every entrepreneur is working to solve. In this article, we will look at 5 possible options that will help achieve this goal.
Opt out of free
A free service, a promotion, a super discount, a second product as a gift – almost all companies make these template steps, wanting to attract and please customers. A very strange phenomenon that sometimes does business more harm than good. The gift is not perceived as a value, rather, as something that you are not sorry to give, respectively, probably you are not sorry for the rest, probably it is not so valuable?
Try to give up free services for a month and compare the reports.
Raise the price
There are several reasons to find, here are the main ones:
— Screening out unwanted, inadequate, low-quality buyers. Probably everyone has them. These are the ones who order 2-3 positions, on which you will earn so much that it is barely enough to pay for the services of the seller serving the order. Let there be fewer such orders, this will reduce the amount of work and raise the average check.
— Low price, low quality — such an association may take place in the thoughts of your client. Perhaps the client is willing to pay more, why forbid him?
And implement the average price method. You need three offers with different prices:
- few positions, low price;
- your running positions, standard price;
- everything that is at a high price.
The emphasis in sales should be on the standard. If the user sees an offer between “little” and “too much”, then the chances of selling it increase.
Play on one wonderful instinct
On the herd. Well, or you can call it a beautiful word “social proof”. The bottom line is that no one likes to be made a fool of. That is why they put a counter on the lead magnets “Downloaded 346 times today”, and in the online store they put a “Hit of sales” icon and what they buy so often, they start buying even more often.
Give the opportunity to buy collectively
Order lunch for the whole office and get a $1 benefit from every tenth! It is more profitable to sell to several people than to one. Offer customers cooperation.
All options are practical and applicable in many areas of business. By testing and implementing at least one of them, your sales will grow.