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10 Ways to Hit the Bottom line – Profits



gynn
By: Gynn Flores

 

ProfitWhen you are in business, you need to have a clever mind to come up with effective marketing strategies to gain a good market share. You need enough capital to finance the operation of your business and of course a good product line that can capture the buying public. The bottom line is to make profits. Achieving this entails a lot of efforts.  Here are some valuable inputs:

1.    Join exhibits and trade shows that are related to your product line or industry. Give out brochures and if applicable, do sampling or actual demonstration of how to use your product. Do not forget to give your business cards to make your contact details accessible to your prospective clients.

2.    Position your location where your prospective clients are. Making yourself accessible will give a better chance for your business to prosper. Proximity is very important especially when time is scarce for many consumers. Offer delivery service to accommodate people who are not so near your outlet. Service oriented businesses should offer home service at a higher rate to cover transportation and extra labor.

3.    Advertise through every available media like television, commercial magazines or newspapers, banners or billboards and plug in radio programs. Be visible to your prospective clients as easy recall is very important when they need your products or services already.

4.    As the internet becomes a more accessible media, create a website for your company or product line, be an e-zine publisher yourself or blog with other publishers’ websites. You can invite people to link to your site’s content also.

5.    Do e-mail marketing offering free consultations to your clients. Make it interactive by encouraging your clients to ask questions about your products. In the process of interacting with them, include a small ad of your products which they might need or want to try out.


6.    Establish a good after sales support team responsible to take care of your clients’ complaints, suggestions or further inquiries. Encourage positive responses and stories they have while using your product. Word of mouth is the best advertisement for almost any product or service.

7.    Always be aware of your competitor’s strategies and don’t be left behind.

8.    Make your rates competitive at all times. Be flexible in terms of giving discounts or freebies for volume purchases to encourage more volume sales.

9.    Make sure that the merchandise or services you are selling are of good quality as it speaks for itself.

10.    Be patient when a strategy you launched did not work. Try other campaigns based on actual statistics and be more creative to capture the target market’s interest and attention.

Having known these ideas to make your business gain more profits will further empower you to acquire a bigger market share. This would mean more profits for you. After all, gaining some money is the main reason why we engage in business.

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