To increase your price by even a small amount is difficult but this video clip gives you some ideas on how it can be done. Each industry is different and so only some of these ideas will be applicable to you.
- Pay attention to your brand. Does it communicate that you deliver a quality that customers will pay more for?
- Market your products or services so that your customers want to buy from you even though you are more expensive.
- Can you lock your customers in to your business through using your systems such as stock availability and purchasing?
- What can you bundle into your offering which adds value for the customer but costs you very little?
- Can you reduce the discounts you are give?
- Can you offer a premium offering which some customers will prefer to buy?
- If you always have to quote a price before somebody buys from you, can you simply increase your prices by 1% without them noticing?
- If you have transparent prices, can you simply put up your prices and blame it on your increasing cost of raw materials and energy?
For more ideas on how to grow your profits go to www.profitbootcamp.co.uk