Your Inspirational World Die/s Every Minute You Dont Read This Article: customers
Blessed7 Header AD
Showing posts with label customers. Show all posts
Showing posts with label customers. Show all posts

Friday, March 13, 2020

The ONLY 5 Ways To Become More Profitable! Get More customers to buy the product/service

Friday, March 13, 2020 0
The ONLY 5 Ways To Become More Profitable! Get More customers to buy the product/service

The ONLY 5 Ways To Become More Profitable!

Let's get straight to the point. Here are the only 5 ways in which you can become more profitable.

The ONLY 5 Ways To Become More Profitable! Get More customers to buy the product/service

 1)  Get More customers to buy the product/service

The first one is straight forward, get more people to buy from you. When you have more volume, you have a high turnover and consequently higher profits. Do make sure that you have a healthy margin though, because the game of volumes can quickly turn unprofitable on razor thin margins.

2) Get the customers you have to buy from you more often

This involves setting up a system where the same customers buy from you more often.  This can in be in the form of a recurring billing system or a contract but the objective is to make sure customers buy from you more than once. The more you can do this, the greater the profits.

3) Introduce new products/services

At some point you will hit a saturation point if you are selling just one product/service, even if several customers are buying it regularly. At this point it is important to introduce new products or service. In order to reduce the risk of the new product/service not selling well, try to make it supplementary or complimentary to the existing high selling service instead of introducing something completely unique. This can greatly increase your profits. On the other hand introducing something completely unique runs a greater risk of failure. You can introduce something completely unique if you can keep the costs of product development low and can afford to take the losses if the product doesn't do well.

4) Increase prices of products/services

One of the simplest ways of increasing your profit is to simply increase the price of your product/service. This maybe hard if you are selling a commodity with no differentiation or have a lot of competitors competing on trying to offer the lowest price possible. However, if your product/service has some differentiation/uniqueness of value to the customer, that may justify a higher price. When you raise your price, it is possible that some customers may leave and that may depend on the elasticity of demand for that product. However many customers will stay, especially if they are convinced of your value and them paying higher will now bring you more profits even if the number of customers decreases slightly.

5) Enter a different market

The final thing you can do to increase profits is to enter a different market. This can mean several things. If you are targeting specific industries, now you may try to sell to other industries. If you selling only in particular regions, you may expand to more regions. If you are selling only in one country, you may now target other countries. Again, similar to launching new products/services mentioned in point 3, expanding in markets that are most similar to the market where you are already selling well is the best bet to lower risk. This means target similar industries and regions so that the predictability of your success is higher and so are your profits.

Monday, September 07, 2009

Ego sometimes misjudges a PERSON

Monday, September 07, 2009 0
Ego sometimes misjudges a PERSON

Ego sometimes misjudges a PERSON

What is the exact meaning of ego?

ego. Your ego is your conscious mind, the part of your identity that you consider your "self." If you say someone has "a big ego," then you are saying he is too full of himself.


Ego sometimes misjudges a PERSON

 How our inner Ego sometimes misjudges a PERSON


A lady in a faded grey dress and her husband, dressed in a home-spun suit walked in timidly without an appointment into the Harvard University President's outer office. The secretary could tell in a moment that such backwoods, country hicks had no business at Harvard and probably didn't even deserve to be in Harvard.



"We want to see the President "the man said softly.


"He'll be busy all day "the secretary snapped.


"We'll wait" the lady replied.


For hours the secretary ignored them, hoping that the couple would finally become discouraged and go away. They didn't and the secretary grew frustrated and finally decided to disturb the president..

"Maybe if you see them for a few minutes, they'll leave" she said to him. The President, stern faced and with dignity, strutted toward the couple.

The lady told him "We had a son who attended Harvard for one y ear. He loved Harvard. He was happy here.. But about a year ago, he was accidentally killed. My husband and I would like to erect a memorial to him, somewhere on campus."

The president wasn't touched.....He was shocked. "Madam "he said, gruffly, " we can't put up a statue for every person who attended Harvard and died. If we did, this place would look like a cemetery."

"Oh, no," the lady explained quickly” We don't want to erect a statue. We thought we would like to give a building to Harvard."

The president rolled his eyes. He glanced at the gingham dress and homespun suit, and then exclaimed, "A building! Do you have any earthly idea how much a building costs? We have over seven and a half million dollars in the physical buildings here at Harvard."

For a moment the lady was silent. The president was pleased. Maybe he could get rid of them now. The lady turned to her husband and said quietly, "Is that all it costs to start a university ? Why don't we just start our own?"

Her husband nodded.. The president's face wilted in confusion and bewilderment. Mr. and Mrs. Leland Stanford got up and walked away, traveling to Palo Alto, California where they established the University that bears their name: -StanfordUniversity, a memorial to a son that Harvard no longer cared about.

Most of the time we judge people by their outer appearance, which can be misleading. And in this impression, we tend to treat people badly by thinking they can do nothing for us. Thus we tend to lose our potential good friends, employees or customers.

Remember

In our Life, we seldom get people with whom we want to share & grow our thought process. But because of our inner EGO we miss them forever.

It is you who have to decide with whom you are getting associated in day to day life.

Small people talk about others,

Average people talk about things,

Great people talk about ideas

Wednesday, May 14, 2008

What's Concept Selling?

Wednesday, May 14, 2008 0
What's Concept Selling?

Many organizations follow the selling concept, which holds that consumers will not buy enough of the organization’s products unless it undertakes a large scale selling and promotion effort. The concept is typically practiced with unsought goods, those that buyers do not normally think of buying such as encyclopedias or insurance. These industries must excel at tracking down prospects and selling them on product benefits.

Most firms practice the selling concept when they have overcapacity

Most firms practice the selling concept when they have overcapacity. Their aim is to sell what they make rather than make what the market wants. Such marketing carriers high risks. It focuses on creating sales transactions rather than on building long-term, profitable relationships with customers. It assumes that customers who are coaxed into buying the product will like it. Or if they don’t like it, they will possibly forget disappointment and buy it again later.

These are usually poor assumptions to make about buyers. Most studies show that dissatisfied customers do not buy again. Worse yet, while the average satisfied customer tells three others about good experiences, the average dissatisfied customer tells ten others about his or her bad experience.


Also See  - Marketing Concepts