08
- March
2017
Posted By : admin
TOP #5 TRICKS FOR PROFIT MAXIMISATION !!




PROFIT MAXIMISATION ?? LOOKING FOR WAYS TO EARN MORE PROFITS?? THEN YOU ARE ON THE RIGHT PAGE.

We know that business is an economic activity . Business has many responsibility towards society but despite such responsibilities , The main and most prime aim of business is to earn profit . A businessman Undertakes business only with the desire to earn profit . SO PROFIT IS THE IMPORTANT PART OF BUSINESS.

1 CUSTOMER EXPERIENCE { believe me it’s the KING here}

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CUSTOMER EXPERIENCE is the most crucial part of increasing profits.

Basically, customer experience includes all the feelings that a customer goes through when he enters your store till he leaves.

Building customer experience will have an indirect effect on profit maximisation, but it’ll surely boost them up to sky height limits.

Ways to enhance customer experience
  1. Always greet your customer’s. It increases the respect of customer.
  2. Don’t force him to buy any product rather help him to find the best one for him. It’ll increase your goodwill
  3. Always keep your tone in a friendly manner. Even if a person doesn’t buy anything from your shop, doing this will increase your credibility only.
  4. Also customers feel more satisfied when they are offered some more conveniences like option for online payment etc.

2 THE LARGER YOU ARE ON SOCIAL MEDIA, THE MORE ARE YOUR PROFITS.{ DIGITAL MARKETING}

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As we all know that in today’s world social media is the fastest medium to reach out to the masses.

This concept of social media can be very useful for any type of business if the strategy is implemented correctly.

Advantages of social media for your business
  1. Reach to the masses, and of course the TARGATED ONE.
  2. This way of advertising is pretty easy in your pockets as compared to traditional way of advertising
  3. People who saw your ads, and other analytics related to ROI by digital marketing can be easily tracked.

3  STAND OUT FROM THE CROWD. {do something different}

HELPS IN PROFIT MAXIMISATION (Small)

Now just sit and relax. And look at your business from starting. Now obsereve your competitors and also your customer’s.

Are you able to find something that your customers want???

Something that they want but still it’s not being provided to them by any of your competitors??

IF YES

Then congratulations, you are on the right path.

Now you just have to implement that solution to your targated customers  and enjoy the uniqueness that you just created for your customers

Advantages of providing something unique
  1. Youll stand out of the crowd. It means that your publicity is gaurenteed for free by the word of mouth for giving your customers a unique experience.
  2. Obvioussely if the uniqueness you are providing is something good then it will automatically increase your goodwill which in turn will again automatically lead to profit maximisation.

4 Correct follow up

HELPS IN PROFIT MAXIMISATION (Small)

It means that after the customer has bought a product from you shop now it doesn’t mean that you have to forget that customer. You just have to follow up to them and reach out in future days via E-MAIL.

Now it doesn’t mean that you have to start shooting promotional emails blindly.

It means that keep a ratio between promotional emails and value emails{ emails which provide some kind of benefit to consumer} and this ratio can be 40:60.

Value emails can be

For ex. You are a car dealer. Value email can be tips for improving the life of the car

Or

Tips to improve fuel efficiency.

ALSO YOU CAN SHOOT MAILS FOR FESTIVALS LIKE CHIRSTMAS AND ALL.

5 Analyze your expenses

LESS EXPENSES MORE INCREASE IN PROFIT (Small)

Now in this step you have to analyze your in shop expenses.

Like your electricity, water etc. like expenses. For ex. If you start using bulbs and tube lights which are power efficient then in the long term it will save you a good amount of your buck and eventually will lead in profit maximisation.

Also you can think of implementing powering solutions like solar power etc.

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