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The 5 Ways to Increase Profits

While almost all businesses want to increase profits, it should be understood that there are 5 ways to do this.

1) The first way is to acquire more new customers. The many ways of “adding values” and communicating it effectively are throughout this manual. Included are Referral Programs, Web Site Searchers, effective ad writing, etc.

2) The second way is to keep your existing customers loyal (not going to Brand X). This is done with exceptional services, “happy calls”, e-mails of new products or specials, and, other “added value” mechanisms, as described later.

3) The third way is to make your customers more frequent. This is done with direct mail or e-mail programs that reward them for frequency. These programs are included in the dedicated “More New Customers” program.

4) The fourth way is to raise your prices or eliminate discounts. This can be done if you have done everything described to add value and become irresistible.

5) The fifth way is to add more products or services to sell. This can become a way to sell “after market” products/services or “impulse buying” at the point of sale.

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