4 Proven Ways You Can Generate an Immediate Increase in Profit

4 Proven Ways You Can Generate an Immediate Increase in Profit
4 Proven Ways You Can Generate an Immediate Increase in Profit In this ChildsPlay Marketing Article I wanted to give you four very easy and very quick ways for you to create instant profit. Here they are:

Make An Irresistible Offer To Your Existing Customers

Create a highly compelling offer for your exiting customers and invite them to take advantage of this exclusive, once-in-a-lifetime opportunity. It could be an incredible discount, a VIP sale, a private buying opportunity after hours, an amazing bonus product or service that they get when they buy something, giving them 'more for less' i.e giving them more time or a greater quantity for what they are used to paying for. Or better payment terms if they buy now: 12 month interest free, 7 day trial, 90 day payment terms etc. Or you may offer more loyalty points if they buy now, or they may get credit points toward future purchases etc.

Contact your database announcing this fabulous promotion - call them, mail them, or email them.

Follow-up On Recent First Time Buyers

Did you know that many of your recent first time buyers would actually return to you if you actually show extra interest in them? It's true! As mentioned in a previous Tip, people like to feel wanted and appreciated, and by following up on your first time buyers you are showing them that you value them as customers. Not only that you are also giving yourself a second chance to re-sell the benefits of your business, which is very important if this buyer was ever in any doubt about returning to you.

Follow-up with a phone call, and show your appreciation to this customer. Get their feedback on their experience of being your customer, have them feel heard, and then give them an invitation to come back and see you again, by making an offer they can't refuse.

Re-activate Lost Customers

Many of us have a substantial list of customers with whom we have not done business for over 12 months. Don't dismiss these people, as a large percentage of them would still think of you quite favourably. Get in touch with them; tell them that you miss doing business with them, and that you really appreciated their patronage. Then, invite them back to come and see you.

Depending on your type of business and the size of the customer (in dollar terms), you may invite them out for a coffee, dinner or an event to get re-acquainted. You might invite them in for an exclusive VIP sale, or entice them back to you by offering greater service, better prices, better payment terms, or faster delivery options. Again, give them an offer they can't refuse.

Make Referral Commissions from 3rd Party Providers

Your customers are worth a lot of money to you. Did you know that they are also worth a lot of money to other businesses as well? In fact many businesses would actually pay YOU to send your customers their way.

What businesses are complementary to yours? By this I mean what businesses do your customers go to after they purchase something from you? For example: If you are gymnasium your customer may need to purchase health foods from a health food store, or if you are an accountant your customers may need financial planning advice from a financial planner. Or a DVD store might relate to a take-away restaurant etc.

Make a deal with your complementary businesses by offering to send them an ongoing flow of new customers if (a) they treat them amazingly well, and (b) if they acknowledge you by giving you a 10% referral commission (for example). Businesses pay sales reps 10% commissions for their sales, so they can definitely pay you for doing the same for less expense than a sales rep!

Author: Daniel Rechnitzer, founder of ChildsPlay Marketing - Simple Ways To Succeed in Business. See www.ChildsPlayMarketing.com