-By Adam Witmer-
Cross-selling is the art of offering a complementary product or service to a customer who is in the process of purchasing a different product or service. The idea of a cross sell is to provide in additional product that complements the product they have already decided to purchase.many times the product or service that is offered any cross sell is actually very beneficial to be purchasing customer.
Read MoreA convenience item is a product or service that is available at the right place and right time for a customer. These are items that are often sold at a premium price compared to what a customer could purchase the item for if they bought it in advance, at another location, or in a larger quantity. The end result is that customers are willing to pay more for an item when a business offers the item at a time and/or location that is convenient for them – meaning the value proposition is convenience rather than price.
Read MoreThe key to effectively using coupons is to understand why they work and then to strategically implement a coupon program. Without being strategic, you could just be arbitrarily cutting into your margins without understanding the effectiveness of the coupon. Basically, if you just hand out coupons on every sale you make without having a reason for doing so and without raising your profits, the result is decreased margins and subsequent profits - just like you reduced your prices.
Therefore, it is important to have a strategy behind your coupon program. Here are six ways you can strategically use coupons to make more money.
Read MoreMany cash-strapped small businesses delay investing in much needed repairs, investments, inventory, or even services. The problem with this is that growth is often slowed when these essential investments are not made.
Fortunately for these small businesses, there is an alternative to paying for these investments.
Read MoreLet’s face it. We live in a digital world; if you don’t have a presence online then you don’t exist. At least in the eyes of those who are actually searching to buy a product or service that you are offering.
According to Forbes, “consumers report using the internet first (80% of the time) when they need a new product or service, and printed Yellow Pages only second or third (about 50% of the time.)”
This means that if you are a small business owner, you can no longer...
Read MoreAs I was browsing Facebook yesterday, I saw that a friend of mine had shared a post about a jazz vocalist (Diana Krall) coming to the Embassy Therater in Fort Wayne, Indiana where I live.
The post was published on Friday afternoon and said that they would be giving away two free tickets on Monday. To get a chance to win the tickets, all I had to do was to like, comment, and share the post about the ticket giveaway - which I did.
Read MoreWhen I was in college in the late 1990s, a friend in mine had a challenge - he was a slow-typer. He’d never learned proper typing technique, so his two-finger method would take hours longer than it needed to.
I remember walking into his room one weekend and seeing him at his computer with a headset. He’d just installed brand-new voice recognition software...
Read MoreCould you make a sale today if you wanted to? I'm not talking about customers coming to you, but rather, could you make a sale by going out and finding one?
Finding a sale on a minutes notice is a very challenging task. I know. I used to have a sales job where I had to do that. When we would arrive to work in the morning, our boss would occasionally tell us we had to go out and find a new sale that day. So we would...
Read MoreWe all know that it is much easier to retain an existing customer than to acquire a new one. Yet so many businesses leave engagement up to the customer. The customer comes in on their own, leaves on their own, and comes back on their own.
But many customers are just looking for an excuse to come back.
They want to be engaged.
Read MoreMy family and I have recently started watching a show on Netflix called Man vs Food. While the show follows a goofy host trying to win eating challenges in restaurants throughout the country, it also features some of the best and most unique restaurants you can find.
Of all of the restaurants featured on the show, there was one that absolutely stuck out. It was a doughnut shop.
Read MoreHas something ever backfired on you because you made it too innovative or too complex?
When I first started my photography business, I wanted to get some excitement going among my friends and various networks. Since this was before I knew anything about internet marketing, I advertised my new services through a traditional marketing channel: a postcard advertisement.
Read MoreI like to think of myself as a decent negotiator. The reality, however, is that I don't negotiate very often and could easily refine my skills.
A few years back, I needed a new car and was determined to negotiate a great deal. This was the first time I had tried negotiating, so I...
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