Ep. 5 - Guaranteed Marketing Strategy to Increase Profits

There is a lot of noise encouraging you to do this marketing technique or that marketing technique to grow your business. They all may work but there is usually a series of trial and errors (along with time and money) before you figure out how to make that particular technique work. But there is one marketing strategy that will increase profits the moment you put it into action. It’s not really a secret but it’s a strategy that most businesses overlook and afraid to implement once they find it. So, this marketing strategy is simple but not easy.

Key Takeaways:

• Average profit margins for business - 6%

• Lower profits results in less room for error, more work, debt, lack of reinvestment to maintain and upgrade quality, understaffed, etc.

• 15% pre-tax is needed for continual improvement

• The guaranteed strategy

• Don’t compare yourself to the competition- DANGEROUS as you don’t know their business or financial models

• The subjectivity of value is the secret sauce to increasing margin

• To Implement this guaranteed strategy you must get over the fear of:

  • Losing customers

  • Losing customers

  • And losing customers