Are You Working for Peanuts?
If you are just starting your business every sale is important. Since you don’t have a big customer base yet every sale needs to bring in the maximum dollars it can.
If you can gain extra money on every sale you make then your cash flow is going to grow along with your business. The question is how to you get more from each sale? There are a number of things you can do.
One way is to change your existing products or services. By adding or subtracting products or services you can help to increase each sale. You may be asking how subtracting a product can help increase the amount of a sale. Let’s say your scrapbooking “mix” includes a mini scrapbook (4×6). People may be buying this because it is the cheapest scrapbook you offer. However, if you were to discontinue the mini book as a sale option then people will still buy the cheapest scrapbook you have to offer only that one will reap you more profits.
There are lots of add ons you can do as a scrapbook artist
. You can offer photo scanning, bound books, you could create digital slide shows, you might offer that discontinued 4×6 mini book as a special with a specific purchase. Don’t be afraid to try different ideas. Let your imagination run wild and see what you come up with.
Bundling is another great way to increase the amount of each sale. Have several packages set up and available. They could include things like taking photos, scanning, gallery posting, etc. Whatever services or products you have can be bundled into a more expensive package that offers your clients more value. If they perceive it to be more valuable and the price is right then they WILL pay more.
You can even bundle future sales. You could have them purchase a specific product/service today and give them something in the future. By doing this you are ensuring a repeat customer and can upsell them again when they come back.
The easiest way to increase the amount of each sale is to simply raise your prices. When you are first starting out I suggest pricing yourself a bit on the high side and offer a ton of value. You don’t want to get into the game of beating your competitor’s prices. When you do that sooner or later you both end up working for nothing. It is much better for you to be perceived as being worth the money you charge.
Don’t forget the simple up sell. Every time you go into a fast food restaurant you get the line “Would you like to super size that” or “Would you like to add ….?” Take a lesson from the fast food chains. Once your client decides on something simply ask them if they would like to add on something else. It might be as simple as saying “Would you like to add a DVD of all your pages to this order?” One tip, be sure to use the word ADD. That way there is no miscommunication about that fact that it is an add on and not part of the package.
Learn how to increase every sale early in the life of your business as it will pay dividends for many years to come.
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