Weed
Out Unprofitable Customers.
Cut your losses
quickly.
Add More Value to What You
Sell.
Have you ever heard a customer ask you, "Is that all I get for this
price?" Chances are you have. It could mean that you are not offering
enough value for what you are charging, or it could be a misinformed client. In
either case, you won't get repeat business if your customer feels like they
over-paid for your products or services.
What can you do to add value to
your products or services? Try adding value by including items that cost you
very little or even nothing at all. An example of this might be that you include
a free pamphlet on Kitchen Design. By adding this small, low cost item, you will
make the decision to buy that much easier for your customers. How are you
presently using Associated Warranties? Try offering them at half price - $25 or
$19 or even $10.
This works in all types of
product and service transactions. If it is a service you are offering, include
extra time as part of the price. This gives your customers the distinct feeling
that they are getting a little more than they are paying for and assures you
that they will both use your services again and refer their friends to you.
Think of creative ways in which
you can add value to your base product or service offerings. A small addition
can easily make a major difference to your profits!
Offer Items of
Complimentary Importance with Each Purchase
This is one of the most profitable things you can do to increase your average
sale amount. You accomplish two things by offering complimentary products or
services. First, you add value to your products or services by offering items
that you know your customers will need to buy at some point in the future
anyway, and you are saving them the trouble of having to go to another store for
these items. They will actually appreciate you more if you sell these items to
them at the time of purchase!
Sell Upgrades
You've been sold upgrades when you bought your new car, a new lawnmower or just
about any other product you can think of! It works like this: You explain the
advantages of the first product to your customer, then you "do them a
favor" by offering them a peek at the next level up. In many cases, you'll
find that your customer will opt to pay a "few extra dollars" to get a
few more benefits or an altogether better product or service.
Yes, I did say service! Remember
your last trip to the local car wash? How about that undercarriage wash or that
irresistible "hot-wax?" All you have to do is think about your
business and what you can offer as the next best thing, for a few more dollars!
Offer Extended Warranties
The number of you who offer Extended Warranties is abysmally low. Many of you
carry them but fail to offer them to the customer. The cost of repairs is rising
all the time. Your customers are aware of it; many of them want protection
against future expenditures. Lots of them are leaving your stores and buying
warranties directly from manufacturers. Starting today, make sure every
customer is at least offered the opportunity to buy one from you.
By offering warranties, you'll
also increase your sales by making your customers feel more secure in purchasing
from you.
