5 Ways To Increase Revenue And Profit
180 words with the power to consistently boost your profits
1. Increase Price
Raising your prices is the easiest and fastest way to increase revenue. Dan Kennedy says the key to getting higher fees is being able to keep a straight face while quoting the fee.
2. Add More New Customers
You do this by increasing your marketing activity. Can you scale your existing marketing? Or add new marketing channels?
3. Sell More To Existing Customers
Make a resolution to get in contact with all your ‘old’ customers. It’s easier and faster than finding new ones. What can you offer to existing customers that’s likely to get their interest?
4. Create New Offers
Invent new services or products that are a good tie-in with your existing offers. Use as upsell, bundle them together, or use them as first purchase offer for new customers.
5. Reduce Or Eliminate Costs
Like raising prices is the fastest way to increase revenue, reducing cost is the fastest ways to increase profit. Check all your business expenses and see where you can reduce costs. Cancell unnecessary services and memberships? Stop unprofitable ads? Find cheaper vendors?