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Other Added - How to Increase Sales and Profits Without Spending a Cent!
Due to the internet, it is very easy for a creative and innovative person to do research on potential business opportunities. Not only are their a variety of websites that offer past market research, there are many that forecast the future of different markets as well as upcoming trends. Looking at trends provides great opportunities because they look at the future. Being one of the first to be involved with a new trend can pay off.Looking back at the last few years their have been a good amount of trends. The internet is one. The people that believed the internet would become a worldwide marketplace got involved with it long before others accepted it. Now a lot of those that were first to market are very successful.An additional trend was the housing boom. Those that got involved early were able to buy houses hold them for a small time and sell them for a
You'll notice your conversion rate will be different for each of your staff. Why is that? Good question. But when you realise the difference you can do something about it, but until you have measured it how can you do anything about it?
So now, onto the magic question, How To Improve Your Conversion Rate!
There are at least 80 ways! Want to know the best ones? Here they are...
1. Learn DISC profiles. DISC prof
Whether you are working at home, in the office, or in your car -- your ability to produce results with the least amount of stress, is directly affected by your physical environment. A functional desk that is ugly can be as much of a deterrent to productivity as a beautiful desk that is not functional. I have spent over twenty years with people working in their homes, offices and cars. One thing has become vehemently clear. Your desk can be your greatest enemy or your best friend.Take a good look at your desk. How does it make you feel? Are you comfortable there? Can you do what you need to do there easily? How does it look to other people? Does it reflect the message you want to give to the world about your work and your values?Analyze the kinds of activities you need or want to do at your desk. If you use a computer, an L-shape desk is usually the
If you don't know what conversion rate means you're missing out on the most powerful strategy there is in the world to increase sales, without spending a cent. Plus, by increasing your conversion rate your net profits always go up!
So what is conversion rate?
Conversion rate is the difference between how many call, walk in or contact your business and then how many of them end up buying. For example, if you had 10 phone calls to your business and you took their name and phone over time you simply track how many of them actually spent money with you. So if you have 3 people buy from you your conversion rate would be 30% or 3 out of 10.
This simple measurement is life changing for business owners when they see the power of it. If you don't know your conversion rate and "guess" it’s about 50% I guarantee you're wrong! Almost everyone thinks their conversion rate it higher than it actually is. The reason being is that the people you talk to that say they'll come back and buy later or that sound like they are very interested in buying often don't. But you don't know that if you don't measure all inquiries because you assume they have bought.
When you measure your conversion rate be prepared for a shock. I've worked with retailers who thought it was 75% and found it was 38%. I've worked with service businesses that thought it was 50% and we found it to be 13%.
They get a bit depressed when they realise its only 13%, but I get excited! That's because it’s impossible to double 50% conversion rate, but with 13% you can triple it and still have room for improvement!
Did you know that increasing your conversion rate proportionally increases turnover and net profit? That means if you increase your conversion rate by 50% (e.g. from 24% to 36%) you have just increased your turnover by 50% as well! That's because you get 50% more paying customers than you have right now. And you can increase your conversion rate, turnover and profit without spending a cent on advertising or promotion.
So how do you measure it? First of all you need 2 to 3 bits of information on every person who contacts your business. Things like their name, phone number and what their inquiry was about.
This then gives you information to refer back; to see how many people actually ended up buying that contacted your business. With your business it may take days before you can tally inquiries to customers. For some service businesses you may need to wait a month from the inquiry date to purchase due to the time it takes people to make a decision.
You'll notice your conversion rate will be different for each of your staff. Why is that? Good question. But when you realise the difference you can do something about it, but until you have measured it how can you do anything about it?
So now, onto the magic question, How To Improve Your Conversion Rate!
There are at least 80 ways! Want to know the best ones? Here they are...
1. Learn DISC profiles. DISC prof
How can I protect myself from fraud? Unfortunately, fraud does sometimes happen in small businesses. It tends to happen when a busy business owner puts complete trust in someone, and completely 'leaves them to it'. The employee comes to realize that no one is really checking or overseeing what they are doing, and when a grievance occurs or money problems arise at home, they succumb to temptation.Firstly, keep the means of payment under your own control whilst your business is small enough. Keep your cheque books locked in a drawer. If someone else writes the cheques, check they are all accounted for, instruct that any defaced cheques should have 'cancelled' written on them and stapled at the back of the book, rather than thrown away. For electronic payments, keep the password private. Ask for original documentation to be presented (invoice
This simple measurement is life changing for business owners when they see the power of it. If you don't know your conversion rate and "guess" it’s about 50% I guarantee you're wrong! Almost everyone thinks their conversion rate it higher than it actually is. The reason being is that the people you talk to that say they'll come back and buy later or that sound like they are very interested in buying often don't. But you don't know that if you don't measure all inquiries because you assume they have bought.
When you measure your conversion rate be prepared for a shock. I've worked with retailers who thought it was 75% and found it was 38%. I've worked with service businesses that thought it was 50% and we found it to be 13%.
They get a bit depressed when they realise its only 13%, but I get excited! That's because it’s impossible to double 50% conversion rate, but with 13% you can triple it and still have room for improvement!
Did you know that increasing your conversion rate proportionally increases turnover and net profit? That means if you increase your conversion rate by 50% (e.g. from 24% to 36%) you have just increased your turnover by 50% as well! That's because you get 50% more paying customers than you have right now. And you can increase your conversion rate, turnover and profit without spending a cent on advertising or promotion.
So how do you measure it? First of all you need 2 to 3 bits of information on every person who contacts your business. Things like their name, phone number and what their inquiry was about.
This then gives you information to refer back; to see how many people actually ended up buying that contacted your business. With your business it may take days before you can tally inquiries to customers. For some service businesses you may need to wait a month from the inquiry date to purchase due to the time it takes people to make a decision.
You'll notice your conversion rate will be different for each of your staff. Why is that? Good question. But when you realise the difference you can do something about it, but until you have measured it how can you do anything about it?
So now, onto the magic question, How To Improve Your Conversion Rate!
There are at least 80 ways! Want to know the best ones? Here they are...
1. Learn DISC profiles. DISC prof
How many of you reading this article has suffered through very dull, inefficient, and unwarranted business meetings that wasted your valuable time? And how many of you wished it was possible to transform the wasted time into time well spent? If you answered YES, please pay attention to the dozen tips I am sharing with you on how to transform time wasted into time well spent in your business meetings.1. Do an honest evaluation of your current business meetings, identify what is not working and commit to preparing a plan to improve the meetings which will be respectful of everyone’s time.2. Establish ground rules for your meetings and commit to enforcing the rules.3. Always prepare an agenda and send it to attendees prior to the meeting.4. Establish a committed time to begin and end meetings.5. Develop alternative times, locations
When you measure your conversion rate be prepared for a shock. I've worked with retailers who thought it was 75% and found it was 38%. I've worked with service businesses that thought it was 50% and we found it to be 13%.
They get a bit depressed when they realise its only 13%, but I get excited! That's because it’s impossible to double 50% conversion rate, but with 13% you can triple it and still have room for improvement!
Did you know that increasing your conversion rate proportionally increases turnover and net profit? That means if you increase your conversion rate by 50% (e.g. from 24% to 36%) you have just increased your turnover by 50% as well! That's because you get 50% more paying customers than you have right now. And you can increase your conversion rate, turnover and profit without spending a cent on advertising or promotion.
So how do you measure it? First of all you need 2 to 3 bits of information on every person who contacts your business. Things like their name, phone number and what their inquiry was about.
This then gives you information to refer back; to see how many people actually ended up buying that contacted your business. With your business it may take days before you can tally inquiries to customers. For some service businesses you may need to wait a month from the inquiry date to purchase due to the time it takes people to make a decision.
You'll notice your conversion rate will be different for each of your staff. Why is that? Good question. But when you realise the difference you can do something about it, but until you have measured it how can you do anything about it?
So now, onto the magic question, How To Improve Your Conversion Rate!
There are at least 80 ways! Want to know the best ones? Here they are...
1. Learn DISC profiles. DISC prof
The Universal "Law of Attraction" states that one attracts to himself/herself those people, things, conditions and experiences that match the beliefs one deeply holds in his/her Subconscious mind. These deeply held beliefs are materializing as one's state of health, bank account, jobs, homes, girlfriends, wives, friends, and everything else one experiences during one's journey in this physical dimension."The beliefs deeply held in our Subconscious minds are creating our own realities". The Law of Life is the Law of Belief, which is another name for the universal Law of Attraction. That is a truth very few people know and fully understand.At this point, it is important to clarify that the Subconscious mind takes those beliefs deeply held and 'materializes' them AS your reality. Therefore, we could state that 'your beliefs are creating your reality'.
So how do you measure it? First of all you need 2 to 3 bits of information on every person who contacts your business. Things like their name, phone number and what their inquiry was about.
This then gives you information to refer back; to see how many people actually ended up buying that contacted your business. With your business it may take days before you can tally inquiries to customers. For some service businesses you may need to wait a month from the inquiry date to purchase due to the time it takes people to make a decision.
You'll notice your conversion rate will be different for each of your staff. Why is that? Good question. But when you realise the difference you can do something about it, but until you have measured it how can you do anything about it?
So now, onto the magic question, How To Improve Your Conversion Rate!
There are at least 80 ways! Want to know the best ones? Here they are...
1. Learn DISC profiles. DISC prof
People generally have a difficult time tooting their own horns. Normally, modesty is a commendable trait; but on a job search it could be deadly. And that is where letters of recommendation can help. Why brag about how great you are when you can get someone else to do it for you? Letters of recommendation are basically testimonials from satisfied "customers." And they can be a lot more believable than resumes since they come from objective third parties.Here are 4 surefire tips to creating powerful and convincing letters of recommendation:Who? Who will make the most impact? Your immediate supervisor is generally the very best person to write a letter of recommendation. She has the most knowledge of your performance, abilities, and results. She can attest to how you have positively
You'll notice your conversion rate will be different for each of your staff. Why is that? Good question. But when you realise the difference you can do something about it, but until you have measured it how can you do anything about it?
So now, onto the magic question, How To Improve Your Conversion Rate!
There are at least 80 ways! Want to know the best ones? Here they are...
1. Learn DISC profiles. DISC profiling has to be the most unknown method of understanding people there is, yet in business it’s the most powerful tool you can learn and use. DISC is an insight into 4 major differences in people's behaviour. When you learn DISC profiles you understand some people want to be friends with the person they buy from, while others find friendly sales people annoying and don't buy from them. Some people (about 50%) make all sales decisions very quickly, usually on the spot. While 50% of people always want to think about it, usually over a day or two. DISC is something I teach to all my clients and all who learn it from me increase their sales (turnover and profit) by 20%-300% in weeks!
2. Offer guarantees in writing. Everyone has some level of apprehension about parting with money, so a guarantee helps to overcome that apprehension and helps people to make confident decisions. What can you guarantee in writing that you have not be offering now? What about not to leave a mess if you're in a service business? What about being completely happy with your purchase of you will gladly allow refunds? Retailers often don't want to refund so they scare away dozens of potential customers for the sake of a very few possibly wanting refunds. (To learn more about DISC see the article 'How to Build Rapport in 7 Seconds' by Tim Stokes at www.ezinearticles.com)
3. Make your business appear unique. This again is a powerful tool as when you "appear" unique or different you stop losing sales to price shoppers. It's not hard to do, in fact when you use guarantees like those above it makes you very unique!
4. Learn body language. Body language is responsible for 55% of what you communicate before you open your mouth! Everyone has heard of it but how many people use it? Almost none! Go read a book on it and try it. Body language is a form of flattery and people buy from people they like or relate to.
5. Try different words you use to greet people face to face or on the phone. Retailers are notorious for saying things that elicit "no thanks just looking". That's because they set up that response by what they say. Try saying different phrases on greeting and see what happens. Its the same on the phone, if you finish off your greeting with "name speaking" you often get people who think you're a dummy and respond with, "I'd like to talk to someone about..." In other words you can't help me so can you get me someone who can. Try not using speaking and see what happens.
Are you starting to get the picture
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