The 3 Ways to Drive More Sales and Make More Money in Business
From: Pacific Beach
Dear Friend,
I recently heard a mentor of mine talk about the 3 ways that you can increase your sales and income for your business.
And if you’re in business, then this is something you’ll likely want to learn so you know what to focus on moving forward.
Fundamentally, sales are generated from customers and sale of goods or services.
Therefore, to increase sales, you have to increase or change the factors that determines your sales.
1. Increase your number of customers
A business without customers isn’t much a business. Customers are the lifeblood of any company and what allows it to run and grow.
However, acquiring new customers is often the most expensive part of business. Costs for advertising and marketing just to get prospects to take a look at your products are services is one of the most challenging expenses.
Whether you’re paying dollars to advertise or spending dollars to pay people to create marketing (i.e. content) for you, the expenses add up and that’s often before you even get people to become your customer.
With that said, you should always be focusing on growing your customer base.
2. Increase the cost of what you’re selling
The second option is increasing your sales prices. Now, you may be hesitant to charge more to your customer for what you’re offering and that’s understandable.
So what can you do to get over that fear or mindset block? Well, increase the value of what you’re selling. Add in additional bonuses, features, or extras that justify the increase in price.
Simple resources and guides can go a long way in increasing the perceived value while costing very little upfront to create. Just make sure that what you add on is actually valuable and beneficial to your customer and complement your core products/services.
By doing this, you can increase the price of the product/service without increasing the cost of goods substantially. And that means higher profit margins as well.
3. Increase the frequency of what you’re offering to your existing customers
Once you have a core set of customers, you can make more offers to them more frequently.
This is often one of the “easiest” solutions one can implement. Why?
Because as I mentioned earlier, one of the biggest costs of business is acquiring a customer.
But once you have a customer and have broken even on your advertising costs to acquire them, what you make on their purchases after that is mostly profit.
So what else can you offer your customers? What if you only have one product or service?
That’s where affiliate marketing (link to article) comes into play. In that article, I share my thoughts on why every business could and should be using affiliate marketing to supplement their core business model.
A customer of your business already knows and trusts you. And they likely have other needs or desires that need to be addressed that you core business doesn’t fulfill. And that’s a good thing because you shouldn’t a jack of all trades.
But that’s where the beauty of affiliate marketing comes into play. You can become an affiliate of other companies products/services for FREE and offer them to your existing customers.
If they happen to buy, then virtually all of the sales are essentially profit (or very high margins at the very least) for you since it didn’t create the affiliate product nor do you handle the overhead costs for it.
Okay, so those are the 3 ways to increase your sales, business, and/or income (if you’re a solopreneur or small business).
If you want to take your affiliate marketing to new levels, here are 6 Tips to Become a Super Successful Affiliate Marketer.
Let me know if I missed anything.
Sincere wishes for a great life (and business),
Dan Lu
Ready to take life to the next level?
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Whether you’re looking for books to read, how to harness the power of fear for greatness, or how to start an online business, you’ll find useful content there.
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About the Author
Dan Lu is an author/writer who specializes in the areas of personal development, entrepreneurship, and marketing. He is the creator of the Feardeology concept (a philosophy on how to leverage fear for positive life change) and the founder of Lifestyle Alchemedia.
His mission is to improve the lives of others through sharing insights, tools, and strategies in self-improvement as well as online entrepreneurship.
If you enjoyed or received value from this story/article, please share it with others. It could very well be the article that makes a positive shift in their life.
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