9 Ways To Revolutionize Your Profit

Many business people who think that the turnover will certainly be much more profit is generated. It's true. But that's not true profit becomes the main objective compared with the turnover of the business ? Turnover is growing every month sometimes not matched by profits go up. This could be because you have the wrong strategy to increase profit.

Here are 9 ways you can do to revolutionize your profit :

 1. Raise prices

It is the easiest thing you can do. You can raise the price of your product, for example, 10% of the original price. This 10% increase will raise your income also more than 10%. For example, the price of your product 100, 20% profit is 20. If you raise the price by 10% to 110, your profit to 30. You see, before you profit increased 20. But once raised to 30. Increase your profits 50% of the original profit

How rising appropriate for your product ?

It depends on several things, among others :

• - Type of product
• - Price competition
• - Economic conditions
• - Quality of products
• - Variation of the product, etc..

You can do a test to get a rise in price.

Usually employers are less daring to raise prices. He is concerned that if the price is raised then the goods are not sold or turnover will decrease. Especially if the sales know, they lamented to the leadership, worried too turnover will decrease. Therefore, before raising the price you have to have a good reason why raise the price. Strong reasons for example :

• - All competitors are raising prices
• - Goods you have greater benefits, exceeds the price you're offering
• - The product is unique (no substitutions) and a few competitors
• - Raw material prices go up, so it is unlikely that the selling price is not raised, etc..

So, do not hesitate to raise prices if it will be able to increase the profits of business quickly.


2. Increase the number of new customers

The second way to increase the profit of business is to increase the number of new customers. This method is the most common way we do, and it seems like this way a lot of time and cost us to achieve a profit.

How to get new customers ? The following are some steps that we usually do :

• Adding the cost of marketing the hope if the cost plus, the new customers are also increasing.
• Looking for an alternative media for marketing. This is done if the old media are considered less effective or it could be to help the old media.

Increasing new customer is the right step to increase your profits. But do not forget the following steps ....


 3. Increase the number of purchases per customer

Do not just focus on finding new customers while old customers you forget. Existing customers are people who already have faith in you, because it becomes easier to get the purchase from existing customers than new ones. Several methods to increase the number of purchases per customer, among others :

• Up selling, it means offering greater specification at a price that is more expensive. Suppose you sell computers. A customer came to buy computers at a price of 2 million. Then, offer a higher specification computer with a more expensive course. Explain the benefits in accordance with consumer expectations earlier.
• Cross selling, that offer products that complement the main product purchased your customers. For example, the buyer had offered computer computer accessories such as mouse pad, wireless keyboard, screen protector, modem etc..
• Increase the frequency of purchase. You can increase the frequency of customer purchases in a given time period. If current customers buy 1 year, increase to 2 times a year, for example, or more than that.

That we should always remember is, the cost to "cure" the old customers is much lower than the cost to acquire new customers. That's why in the business world you have no Customer Relationship Management (CRM).


4. Increase customer loyalty and make them as marketers

You want to increase profits by way of FREE and spread like a virus that can not be dammed again ? Here's how. Make your customers as your product marketers. Starting from the customer satisfaction of products and services, he will voluntarily disseminate information of your business to others. It is also called word of mouth marketing (mouth to mouth) or viral marketing.

According to research, people will be much more confident buying your product if there is a reference. And you can imagine, if one of your customers has a relation hundreds or even thousands of people, how many new customers you will get. Especially when this era of internet (email, blogs, social media). Therefore, customer satisfaction should you bring in your business. Products and services you need to be able to make high customer loyalty. And in the end product and the service you should be able to make your customers as a marketer.


5. Improve services and benefits, rather than a discount

A lower-priced goods will remain when there is no value added benefits. When an item given a value, then the price of the goods were going to go up as you add the value of the benefit. For example, the coffee market is a commodity whose price is cheap. But after the coffee sold at Starbucks, its value will increase and benefit costs soared. Any goods or services you have today, please raise value added. And after that you can raise prices in accordance with the benefits and services you provide.

Indeed discount is one marketing strategy that can increase business turnover. But you also have to remember was that the primary purpose of your business is to get profit. Giving discounts will definitely decrease your profit margin is not it ? It's okay to give a discount, but of course with the strategy and careful thought. Now, instead of always giving discounts that are not necessarily provide results, you can provide benefits and better service for the same price or even higher. It is much more rational.

 6. Designing a monthly budget

Success is something that should be planned, including the monthly budget of your business. Set up your monthly budget so that your expenses can be better controlled and planned. Without planning, it could be a lot of expenses that should not have to but you actually do.

Everything that comes to spending money in the company should have been planned, especially if it's spending its routine.


7. Make a saving of 10% - 30%

Make saving all of your current operational costs by 10% - 30% only. Check all your current expenditure, certainly a lot of expenses that you can save. The examples that you can saving: electricity saving, buying in bulk requirements, substitute goods with lower prices, etc..


8. Stop ads that are not effective and efficient

Amid competition so fierce, sometimes we as businessmen like wrong strategy, ie one with a costly advertising. You have to look at which ads are profitable and have an impact for the betterment of the business. Not all ads are effective and that you must leave now. Remember always, the world is always changing and evolving. Similarly, consumer behavior also changed. The media are used effectively for your ad, not necessarily as helpful for your business. Therefore, measuring the effectiveness of your ad is very important.


9. Polar sells goods that have a "high margin"

Thing else you can is the result of what you focus on during this. If you sell many kinds of products with different margins, it's good from now on you are more focused on items with high profit margins, as this will greatly help your business cashflow. Instead you sell items with low margins, although sales volume a lot, but spending was also so much more.

So, from now on your sales focus on products with high margins, be it products or services in the form of physical goods.

Hot Product!

The success of the sale of products through the Internet is determined by the position of your website on search engines. If your website can be on page 1 google, then most likely you will be overwhelmed with traffic from google.

Well, the problem is not all the traffic it generates sales conversions. So how do I get all the traffic that comes it generate sales ?