Are you ready for a quick way to boost your profits?
It’s really simple. In fact, you may say it’s too simple.
Here it goes…
Raise your prices.
That’s one of the fastest ways to boost your profits.
You might say, “I can’t raise my prices because my customers are broke.”
If that’s your answer, you’re selling to the wrong audience. Do more research and see if you can target a more affluent portion of the marketplace.
You’ll find people with money in most niches. For example, let’s say you sell “job placement.” It could be manuals, consulting, done-for-you services, etc. Of course you could work for companies themselves…who have money. But let’s look at it from a customer perspective.
People looking for jobs don’t seem like an audience that has money. But high level executives looking for jobs may have money…and be willing to pay for a premium service.
And here’s an often forgotten secret. Premium customers and clients are often more satisfied clients when you deliver on what you promise.
You might say, “But the competition is dirt cheap.”
If you allow it, the Internet will put anyone and anything into a commodity position today.
When the cheapest provider wins, it’s simply a race to the bottom for both the business owner and the customer.
The business owner loses money. The customer gets poor results.
If you’re selling the exact same products as your low priced competition, the question becomes how can you add additional value?
It’s never the product or service the customer really wants. It’s the end emotional benefit. What else can you add that gives the customer a total package instead of just one piece of the puzzle?
You might say, “But my products aren’t selling now!”
See my responses above.
If you’re targeting the wrong customers…and you’re in a race to the bottom…everyone loses.
Quality drops. Results disappear. No one is happy.
Before you raise prices, ask yourself how you can increase value.
How can you deliver the best end benefits possible to your customers?
That line of thinking will lead you in a new direction.
You won’t just be selling another ebook to get lost on the customer’s hard drive. Instead you’ll be asking yourself how you can best deliver on your promises.
Perhaps that comes through a done-for-you service. Perhaps it involves group coaching. Maybe it involves templates, tools, personal support, set-up assistance, etc.
Instead of just selling clothing, now you’re providing a personal style consultant to each client.
Asking yourself how you can increase value, deliver greater results, and raise your price can lead you into finding your unique position in the marketplace.
No longer are you just another website to be ignored.
You’re a problem solver. And you earn the income that matches that new position.
Here’s another little secret to raising your prices.
Position yourself as a trusted adviser in your marketplace.
And my favorite method for doing that is email. Here’s my complete step-by-step system for becoming a trusted adviser in your market complete with template emails, cheat sheets, and more…