Do you really know what makes your small business the most money?

Do you really know what you sell and what makes you the most money?

Business Marketing Mastery has the sole aim of helping small business owners generate greater sales through better marketing:

I’ve met with hundreds of small business owners over the last 15 years or so and many have become clients of mine and I have helped them in a number of ways from simple advertising to re-branding.

One of the first questions I ask them no matter what their business or niche is 

‘What makes you the most money’? 

This could be a product, this could be a service but ultimately every business owner needs to know his numbers – basically what is the total cost of providing the product and service v what profit do you make on each sale?

The point of asking this?

Simple really, you want to be selling more of what makes you money than selling things that make you no money.

This really helps when you start to look at your business and what you want to focus your marketing attention on.

I have run hundreds of offers for my clients and it is always good to promote something that has a high perceived value but is actually of little or no cost to you so you pull in sales on something that has higher margin of profit.

Download our free report at www.businessmarketingmastery.net/free-report 

Are you focusing on the right areas?

Once you have looked at this and maybe made a list of your products or services and work out the top 5 or 10 that make you the most revenue.

Now you need to look at your sales of these products over the last 12 months. Could you sell more? Could you drop anything that is making you little or no money?

Some products or services that are not profitable may be key to getting and retaining customers – you have to offer them as it is expected of your business niche – but instead of offering them as a sole item there may be opportunities to package them together with other more profitable items to increase sales value and your profit margin.

Any business owner must know his numbers. If you are in control of your numbers the better your business will be and the more profitable you may become.

Another tip is to offer three prices, you can do this with packages. Businesses like Amazon do this all the time, you select a product and they suggest ‘people who bought this also bought…’. About 20% will opt for the highest priced package!

I hope you found this insight useful, if you are interested in building your small business click on the link below. Thank you for your time.

Download our free report at www.businessmarketingmastery.net/free-report