9 Remarkable Ways to Increase Your Sales and Profits! Part 4

successSales

8.   Leverage The Average Dollar Amount Of Every Sale You Make

Another tremendous way to generate more profit is to increase the average dollar amount that your customers spend whenever they do business with you. You’d be surprised how easy it is to increase your profits by 15% to 40% just by making a minor change or two to the way you do business.

Here’s how it’s done. First, it’s important to remember that the easiest person to sell more of your products to is an existing customer. But to extend this concept one step further, you can really make some serious money when you realize that the easiest and most convenient time to sell more to your current customers is right at the time that they’re buying from you.

Look, you already have the person in your store or ordering from you if you’re selling by mail or phone. They’ll never be more willing to dig a little deeper into their wallets than at this point of sale. All you need to do to capitalize on the situation is offer your customer a strong incentive to buy more right now.

Getting your customers to spend a little more at the point of sale is a snap. The way you do this is by using a technique called the up-sell. Here’s how the up-sell works. Essentially, you offer your customers the opportunity to buy even more of what you sell at an attractive discount once they’ve made the commitment to buy something else at the regular price.

If you own a retail store, you set up a special selection of items close by your cash register. Whenever your staff rings up a sale, they tell the customer that because they’ve purchased X dollars worth of goods, they’re entitled to certain items in the special section at a discount of 15% (or whatever figure you choose).

Now the items you feature in your special section should be very popular, quick moving items. They should also be items that have a fairly high profit margin so you can give a liberal discount and still make a decent profit.

Successful up-selling is a function of numbers. You’ll find that 15% to 40% of your customers will take advantage of your special offer. But in order to reach these levels of additional sales, your sales people must present the up-sell opportunity to every customer at the point of sale.

Using the up-sell in direct mail or telephone selling is done in a similar way, but it’s usually limited to just one up-sell item. Offering people too many choices by mail or phone can backfire and actually dilute your sales. Also, when up-selling by mail or phone, the up-sell item should be related to the original item.

For example, if you sell cookware by mail, a good up-sell item would be a cookbook. Another would be a set of kitchen utensils. Again, the up-sell item is offered at an attractive discount, but only when the customer buys the original item you’re offering.

Up-sells are simple, they require almost no additional effort or expense, and they work like wildfire!

9.   Leverage Your Profits By Participating In Joint Ventures

Joint ventures are an exceptional way of adding sizable profits to your bottom line. You can use joint ventures to sell your products to the customers of other businesses. By doing this you’ll not only profit immediately, you’ll also add new customers to your list. This is called a Host Endorsed Joint Venture.

Or you can use joint ventures to sell other companies’ products to your own customers and virtually add or test additional product lines without risking a cent of your own money. This type of deal is called a Guest Endorsed Joint Venture.

For a Host Endorsed Joint Venture, you need to connect with another business that sells products that appeal to the same type of customers who buy from you. This host company will be sending a letter endorsing your product to their customers. You’ll create the mailing and pay all the costs of sending out this offer. In fact, your host incurs no expense whatsoever. In exchange, the host receives 15% to 30% of the net profit. It’s up to you and the host to determine what’s fair to both of you.

By endorsing your offer and playing off of his credibility, the host can easily generate response rates of 10% to 40%. The money you make can be tremendous, plus you get to add these new customers to your list for many more years of repeat sales.

All orders are received by the host and forwarded to you for fulfillment. There are two reasons for this. First, it’s essential to make the offer appear as if it’s being made by the host. It’s the host’s credibility that carries the weight here. Second, this allows the host to accurately track the number of orders generated.

Considering what you’re getting, trading a percentage of profits to play off all of the time, effort, and money it took to build the host’s customer list is an exceptional deal. You can use deals like this to build a substantial list of your own in a fraction of the time it would normally take.

A Guest Endorsed Joint Venture is similar, but here you act as the host to endorse your guest’s product to your own house list. The guest should pay all expenses and reap the lion’s share of the profits.

In a Guest Endorsed Joint Venture, you’re gaining ancillary profits with very little effort and no cost on your part. It’s purely found money. At the same time, it gives you a risk-free way to test other products you might want to consider adding to your business.

Conclusion

Congratulations! You’re now on the road to becoming a direct marketing leverage expert. You’re now ready to start compounding the results of every marketing dollar you invest.

I’m sure you’re pleasantly surprised by the broad selection of marketing areas you can leverage significantly. Ads, headlines, prices, publicity, mailing lists, advertising media, new customer sales, average purchase amount, repeat sales, up-sells, lead generation and conversion, referrals, offers, copy and more! The opportunities for improving your profits are nearly endless.

But there’s one thing I must warn you about. Don’t let yourself get confused when considering the wide variety of areas you could possibly leverage. Don’t get bogged down by all the possibilities and all the details of each. Start small. Pick one area to get started on. Pick the one that looks like it will provide the most return for the least effort. Then kick it into gear.

The important thing is to get started. Once you’ve seen the results you’ll get by actually leveraging a single area you’ll be highly motivated to take on a few more. One final point, I will make. Leverage can have a profound effect on your business. If you increase the response to your ads and boost your average sales amount, and increase the number of times each customer buys from you annually, and extend the number of years each customer stays with you, the leveraged affect is exponential. It can easily double or triple your profits and increase both the size and value of your business!

Finding the right coaching can be a challenge. If you want to learn how make your business more profitable and provide more free time for other activities then watch this free video from online marketing and Blog expert John Curran to find out more. Its a great resource for selecting the right coach to drive your business to greater profitability. Hope you took some great value out of this post today!

Sales

Be Sociable, Share!

Related Posts:

  • No Related Posts

29 Comments to “9 Remarkable Ways to Increase Your Sales and Profits! Part 4”

  1. By total22jp.com, June 4, 2013 @ 4:24 PM

    Hello There. I discovered your blog the usage of
    msn. This is an extremely well written article. I’ll make sure to bookmark it and come back to learn extra of your useful information. Thanks for the post. I’ll definitely return.

  2. By oil change coupons tulsa ok, June 4, 2013 @ 3:44 PM

    Hello it’s me, I am also visiting this site regularly, this web site is truly fastidious and the viewers are genuinely sharing nice thoughts.

  3. By oil change coupons richmond, June 4, 2013 @ 2:09 PM

    Everything is very open with a clear explanation
    of the issues. It was truly informative. Your website is very useful.
    Many thanks for sharing!

  4. By MyHosting Promo Code, May 27, 2013 @ 3:43 PM

    I’m not that much of a internet reader to be honest but
    your blogs really nice, keep it up! I’ll go ahead and bookmark your website to come back in the future. Cheers

  5. By dubturbo, May 21, 2013 @ 11:50 AM

    I’m really enjoying the design and layout of your blog. It’s a vеry
    eаsy on the eyes which makes it much morе еnjoyable
    fοr me to come here аnd νisit more often.
    Dіd уou hire out a designег to сreаte уοuг
    theme? Excellent ωoгk!

  6. By Breville Juice Fountain Plus, March 4, 2013 @ 6:56 AM

    Hi there, i reаd your blog fгom time to time аnd і own a simіlar one and i was just curіous if уοu get
    а lot of sρаm commеnts? If ѕo
    how ԁo you ѕtоρ it, any
    plugin or anything you can recommenԁ? I get so much latelу
    іt’s driving me crazy so any assistance is very much appreciated.

    • By John Curran, March 4, 2013 @ 4:23 PM

      Hi,

      I would recommend using a pluggin called Akismet. It will filter your spam comments. You can also install a pluggin called WP-Optimize which will help to optimize your blog and filter spam comments. I hope this answers your questions.
      🙂
      John

  7. By Britax Marathon 70-G3 Convertible Car Seat, March 4, 2013 @ 1:10 AM

    Heya thіs іs κinԁa of off topic but I ωas ωanting tо
    know іf blogs use WYSIWYG еԁіtors
    or if you havе to manually сode with HTML.

    I’m starting a blog soon but have no coding knowledge so I wanted to get guidance from someone with experience. Any help would be greatly appreciated!

    • By John Curran, March 4, 2013 @ 4:32 PM

      I’m not sure about using WYSIWYG еԁіtors, but I find the WordPress platform easy to work with to add pages and blog posts.If you’re just getting started I would recommend using WordPress. I hope this is helpful!
      🙂
      John

  8. By Nikon D7100, February 28, 2013 @ 4:58 PM

    Υour ѕtyle is reallу unique сomρarеԁ to otheг fοlks
    I’ve read stuff from. I appreciate you for posting when you have the opportunity, Guess I will just book mark this site.

  9. By My Vegas Business review, February 16, 2013 @ 2:58 PM

    Greаt blоg! Dο уou haѵe any helpful hints
    for asріrіng writerѕ? ӏ’m hoping to start my own blog soon but I’m a little lost on everything.
    Would уou suggest startіng with a frее plаtfοrm
    like Woгdpresѕ or go for a ρaid οption?
    Thегe aгe ѕo many options
    out there that I’m completely confused .. Any tips? Thanks a lot!

    Also visit my blog – My Vegas Business review

    • By John Curran, February 17, 2013 @ 8:44 PM

      I would suggest using WordPress.org rather than .com, and have it self hosted. I use Hostgator for my hosting, however, there are other great ones out there as well. There are also some very powerful pluggins that you can use with the WordPress.org platform. I hope this helps.
      🙂
      John

  10. By The Tao Of Badass pdf, February 5, 2013 @ 1:11 AM

    Thіѕ iѕ a toρic whіch is nеar
    to mу heart… Cheeгs! Where аre your contact details thоugh?

    my blоg poѕt; The Tao Of Badass pdf

  11. By Biografie, November 28, 2011 @ 4:43 PM

    I love your blog.. very nice colors & theme. Did you create this website yourself? Please reply back as I’m looking to create my own blog and would like to know wheere u got this from. thanks…

  12. By oyun oyna, April 5, 2011 @ 3:43 PM

    Nice post. I study one thing more challenging on different blogs everyday. It should all the time be stimulating to read content material from other writers and apply somewhat something from their store. I’d desire to make use of some with the content on my blog whether you don’t mind. Natually I’ll provide you with a link on your net blog. Thanks for sharing.

  13. By denver roofer, April 5, 2011 @ 8:29 AM

    Good Stuff, do you have a myspace profile?

  14. By loops, April 4, 2011 @ 11:45 PM

    Good info, thanks for sharing it

  15. By plr video products, April 4, 2011 @ 11:08 PM

    My spouse and I absolutely love your blog and find nearly all of your post’s to be what precisely I’m looking for. Does one offer guest writers to write content for yourself? I wouldn’t mind publishing a post or elaborating on a lot of the subjects you write regarding here. Again, awesome web log!

  16. By REVO ROLL LED, April 4, 2011 @ 2:10 PM

    Mate. This website is cool. How can I make it look like this !

  17. By SEO Services, April 4, 2011 @ 6:28 AM

    I must know where you got your layout from im trying to start my own blog and yours is the coolest.

  18. By free unlimited winzip, April 3, 2011 @ 8:58 PM

    I absolutely adore your depicted object material on this website . I look over each night and I ‘m proud to read that you obtained it!

  19. By Find Love, April 2, 2011 @ 6:38 PM

    Great Stuff, do you have a myspace account?

  20. By Lino Tricoche, April 2, 2011 @ 4:04 AM

    Wonderful beat ! I would like to apprentice while you amend your website, how can i subscribe for a blog web site? The account aided me a acceptable deal. I had been a little bit acquainted of this your broadcast offered bright clear idea

  21. By Clarita Muggley, April 1, 2011 @ 8:58 PM

    This will be quite a large imagination that you are rendering and you hand it away for free. I savour seeing websites that be aware of the value of supplying a prime resource for free. I truly enjoyed reading your Wiley Post. Thanks!

  22. By Meagan Insco, April 1, 2011 @ 6:18 PM

    hello there and thank you for your information – I have certainly picked up something new from right here. I did however expertise a few technical issues using this site, as I experienced to reload the website lots of times previous to I could get it to load properly. I had been wondering if your web host is OK? Not that I am complaining, but sluggish loading instances times will very frequently affect your placement in google and can damage your high-quality score if ads and marketing with Adwords. Well I am adding this RSS to my e-mail and could look out for a lot more of your respective exciting content. Make sure you update this again soon..

  23. By forex indicators, April 1, 2011 @ 1:40 PM

    one of the best system I use thank you coz you make me know it

  24. By Rob Katin, April 1, 2011 @ 8:49 AM

    Hola, he estado mirando por el blog y no encuentro una forma de ponerme en contacto contigo. Me podrías decir una forma, por favor? Muchas gracias.

  25. By epiphone dobro, April 1, 2011 @ 7:12 AM

    Mate! This blog site is awesome! How can I make it look this good .

  26. By Oralee Greenhaw, March 30, 2011 @ 11:34 PM

    Heya i’m for the first time here. I found this board and I find It really useful & it helped me out a lot. I hope to give something back and help others like you aided me.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

WordPress Anti-Spam by WP-SpamShield

*

©2011 by CoachCurran.com. All rights reserved.