| It's a simple yet common question, "How can I make | | | | candle. When they are eligible for the free candle, |
| my business more successful?" | | | | offer them the option of upgrading the 4-inch candle |
| Success can mean a lot of different things to a lot of | | | | to a 6-inch candle for only four dollars. |
| different people but when it comes down to it, the | | | | Implement a customer loyalty program. Whenever a |
| success of your business should only be measured by | | | | customer spends $200 with your store they receive |
| one thing - profit. | | | | a 20% discount on their next order. Show loyalty to |
| At the end of the day, it's not how many people | | | | your customers, too. Create customer-only events |
| came in to your store or phoned in. It's not even | | | | and sales, even workshops on how to make candles |
| how many widgets you sold. At the end of the day, | | | | at home. |
| what truly matters is how much of a profit you | | | | Candles are also popular gifts. Be sure to place your |
| made. | | | | contact info on each and every candle. This makes it |
| It would make sense then that your efforts focus | | | | easy for the gift recipient to purchase from you. Be |
| on profit as the end result. With that in mind, there | | | | sure to also use this tactic when co-promoting with |
| are only three strategies to increase profits for your | | | | similar businesses such as a flower and bath and |
| business. | | | | body shop. |
| 1) Increase the dollar size of each order | | | | Looking at the example Happy Wicks Candle Store, |
| 2) Increase the number of times people buy from | | | | the tasks of increasing profits was not a difficult one. |
| you | | | | Truly, it's a matter of putting systems in place that |
| 3) Increase the number of people who buy from you | | | | generate increasing profits. |
| Most likely, your business is already primed to attack | | | | Take a look at your business and examine the |
| each of these three angles and implementing that | | | | systems you have in place. Chances are there's |
| attack should be fairly easy. | | | | undiscovered profits lying about. Put systems in place |
| Let's say that you are the owner of Happy Wicks | | | | to gather those profits and you'll find your business |
| Candle Store. Let your customers know that for | | | | reaching new heights of success. |
| every $50 they spend they will receive a free 4-inch | | | | |