99% of the marketers reading this will fail… but could succeed if they did this one thing differently starting today…How to increase your profits
Growing Your Business Means Increasing Your Profits Per Sale
Once you’ve increased the size of your audience, and the percentage of that audience that buys from you, the final step towards rocketing your audience-based business to unbelievable heights is to increase the amount you earn from each sale.
Here are 6 ways to explode your profitability by increasing your profits per sale by Hassan, (guest blogger, Firepole Marketing) :
Profit Tactic #1: Skyrocket Sales 300% by Rewarding Your Audience
- Rewarding your audience for purchases or referrals boosts their loyalty and makes them feel valued, and can drive your profits through the roof.
- Reward your audience with great products or services like free content, 1 on 1 coaching, or gifts.
- Show that you appreciate their business, and they’ll show their appreciation by buying more.
- Action Step
- Take any offer you have, and add a generous reward for buying in. It could be an exclusive interview, a special report or a steep discount.
- Think of what your audience would value most, and proceed from there.
Profit Tactic #2: Wow Your Audience Into Buying by Treating Them Like Clients
- Viewing your audience as your clients, not your customers, can trigger amazing changes to your business.
- Before going into why, let’s look at the difference between the two.
- Customer: A person who purchases a commodity or a service.
- Client: A person who is under the protection of another.
- When you regard your audience as your clients, who are under your protection, things really start to flourish.
- This is where “getting into bed” with your audience pays gigantic returns.
- When you understand the real reason behind why people do business with you, you can serve them better than anyone out there.
- For example, if someone is hiring you to write blog posts: what are they really after?
- They’re not buying words on a page. They can do that themselves.
- The reason they’re handing over their hard-earned money is for the rise in conversions, the avalanche of traffic, the ecstatic readers, and the extra thousands of dollars a month they feel all this will bring.
- That’s what they’re really buying.
- So that’s what you should focus on delivering.
- That’s what it means to put your audience under your protection.
- When you do that, you become a mentor, a teacher and a guide – not just another salesman.
- When your audience sees you as a mentor and a guide, they’ll be delighted to purchase more services and products more often, because they know what you’re offering is of tremendous benefit to them.
- Action Step
- Are your clients (ie your audience) coming to you for marketing advice? Help them get more business. Are they visiting you for nutritional information? Help them get healthier.
- Think about their end goal and help them achieve it, before they ever become a paying client.
Profit Tactic #3: Provide a Service That Brings You Recurring Revenue
- Well-known copywriter Ben Settle charges $97/month for a private newsletter that gives inside knowledge on copywriting and business and keeps readers up to date with the latest business discoveries he makes.
- Freelance blogger Tom Ewer recently launched a subscription product called Paid to Blog. It’s a membership site that compiles tons of quality writing jobs from the internet and lists them all in one place.
- These give audiences access to valuable tools and resources that help them get closer to their goals – while also providing the creator with recurring income.
- These products have real value behind them, and that’s what you should aim to give if you want to launch a recurring service.
- Action Step
- Talk to your audience before you sell anything.
- Find out their most urgent pains and create something that gives ongoing support around those problems.
- Recurring value means recurring income.
Profit Tactic #4: Boost Revenue by 40% With Up-Sells and Cross-Sells
- Let’s define the difference between an up-sell and a cross-sell.
- Up-sell: Get the customer to spend more money by offering a more expensive model or adding features.
- Cross-sell: Get the customer to spend more money by adding more purchases from other categories.
- If your audience is already purchasing from you, they’re already investing time and attention in you and your products.
- They’re already trusting you to serve their needs, which means they’re more likely to buy from you again.
- Are there any additional products or services you can add that complement your main product or service?
- Can you add more time and volume options to your services or products?
- Could you add more quality? Bonuses? Be creative.
- Action Step
- Take your current products and services, and think about how you can add value.
- For example, if you’re a copywriter, you could critique copy or coach others on how to write copy. If you’re a writer, you could coach others on how to write, create products that teach writing, or critique other people’s writing.
Profit Tactic #5: Ramp Up Prices by Learning Your Value and Raising Your Rates
- If you don’t know the value of what you’re offering your clients, you’re leaving piles of cash on the table.
- When you know the exact value your service or product has for your clients, you have way more room to play with when it comes to pricing.
- Still not sure how this means you can make more cash?
- Are you a freelancer? A coach? A mentor? A consultant?
- Regardless of the type of audience based business you have, or the service or product you’re offering, pricing your services based on what your competition charges could be costing you big time.
- Know what your services are worth, and get paid for what you’re worth.
- Action Step
- Pick your main service or product and interview 3-6 of your clients.
- Find out how much value your service adds to their business or their life.
- Once you know the average amount of value you bring to the table, you can raise your prices without feeling sleazy.
Profit Tactic #6: Eliminate Risk to Inspire Undying Loyalty for Life
- You want the value of what you offering to be so insanely good, they’d be crazy not to choose you.
- If you go out of your way to make sure you’re giving your clients the best value they can get, and then you take all the risk yourself so they experience no risk whatsoever, then…you won’t have clients for long.
- Instead, you’ll have loyal friends who buy from you. Who trust you.
- You’ll have a raving audience.
- Action Step
- Remove the risk of buying for your audience.
- Make doing business with you so good it would be stupid to deal with “the other guy”.
- If everyone else is offering a 30-day, no-question return, make yours a 60-day, no-question return.
- If everyone else offering a full money-back guarantee, offer a double-your-money-back guarantee.
- Reversing risk better than anyone else makes you feel like the safer option.
- Plus, your confidence in your services will generate interest, which means you can charge more.
You now have “consultant-like” inside knowledge on how to create radical changes to your audience-based business, and blasting it to stratospheric heights.
Your next step?
Pick one strategy and work with it.
Do this, and business growth is inevitable.
So, do any of these 6 tactics resonate most with you? Please share in the comments below…..
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To Your Success,