Wednesday, February 22, 2012

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Boosting those profit margins

An all too commonly neglected subject is profit. Turnover is easily measured so it is often used as a barometer of business health but a business not making net profits will soon go under or burn through investors cash.

"With a value stacked irresistable offer
prospecst will pay whatever you want them too"


Make more margin from each sale you make

If you had 10% more leads coming into your business and you managed to convert more of your total leads into sales, and you managed to increase the total profit made on each sale, would your business grow?

Of course it would. In fact, if you work with us and fix your lead generation systems, and begin converting more leads to sales with an improved sales conversion system then you are already well on the road to doubling your profits this year. If we now focus on squeezing more profit from each sale made then things really start to move up.

So how do we increase margins?

  • Reduce overheads
  • Reduce cost of sale
  • Increase Price
  • Sell more at point of sale
Now we're assuming that you have a pretty tight grip on your overheads and cost of materials etc. You're smart enough to be reading this so you are already ahead of the game. The last two items are where improvements are made. "But", I hear you cry, "we're in a recession I can't possibly raise my prices".

This is not always true. As a member of The Business Builder Club you will learn how to communicate your value proposition more effectively which will allow you to command a higher price point. A simplistic example are the fairy liquid adverts. They demonstrate that their product does twice as much washing up than the discount brands so paying 20% more for fairy is actually better value and costs less.

Selling more at the point of sale is something we're all exposed to every time we buy a burger or a pair of shoes. Who hasn't been offered the opportunity to 'Go Large' or to purchase a can of shoe protector spray?

This is all about up selling and our members learn what to sell and, vitally, at what price relative to the main purchase. Your marketing spend has worked well in getting the prospect to 'Raise their hand' and your sales conversion strategies have worked to move your prospect to a paying customer. Any additional sale you can make now will automatically boost your margins.

Join The Business Builder Club today.