2 Steps to Making Your Business More Profitable
Any Steps to Making Your Business More Profitable is worth learning about. What makes great businesses great are not necessarily the expensive or overly exceptional innovations. This means that, truly, innovation and money play a great part in business success. But also, many small but needful efforts put in the right direction can produce more results than money can buy. You might think that your business is small. But, your need for growth and more profit is the same as that of the big brands. So, if the Big brands are succeeding amidst economic challenges, you too can. In my evaluation of numerous brands with huge popularity, I have come to a conclusion that the following are two of the steps that any business can take to become more profitable.
1. Define your added value
The first step in Making Your Business More Profitable is to identify why people should patronize you. There are most likely countless other people or businesses offering the same services that you offer. So, why should anyone prefer to work with you instead of others? Is it nearness, better quality, fast/free delivery, affordable rates, reward points, pay on delivery, money back guarantee, one-year support etc?
Therefore, Whatever makes your company better is your strength in business and should not be taken lightly. That essentially is your signature, your unique selling point and essentially your guarantee for true success. Many already have businesses that they are loyal to and sometimes very happy with. So it is possible they will never try you out unless you provide an added value they wouldn’t get with their current vendor.
So, before you move on from this paragraph, think about your business, determine what makes you better, why should someone patronize you? If there are nothing unique about you or your business yet, then start creating some right away! Study your competitors and decide on what extra you can add to your business that will make it better than theirs.
2. Sell the Relish
Another step in Making Your Business More Profitable is to sell the relish. Whatever you have come up with as your added value that should make people patronize you might still not be enough for some people. So think about it for a second; how can Coca-Cola make a Pepsi fan drink Coke? I will suggest you study the adverts of these two brands to better understand how “Sell the Relish” works.
But why you are making your research, let me quickly give some insight: the most effective approach to communicating your services and or products to prospects is to focus on the Relish or Enjoyment users would get from using your products or services and not the products or services themselves. In advertising Coke, showing a thirsty beautiful lady in a hot sun buying a bottle of ice cold coke and drinking it with joy suggests how sweet and refreshing Coke can be especially when you are thirsty and in the sun. Trust me, it registers in your sub-consciousness and sooner or later, you will try it for yourself.
The platform through which you reach out to prospective customers about your services and or products might be social media, TV, Radio, Magazines, News Papers etc. Whichever one it is, make sure you communicate clearly, what added value you have to offer and how much satisfaction can be gotten from using your products and or services.
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Great article. Thanks for sharing this. I have a question however: how would you advice that one “sells the relish” for solid products like shoes. Its something that has been on my mind for a while now. Reading through this article I feel the “added value” part is quite clear but I would really love to get clear on the relish part as well. Thanks.
Hi, thanks for taking the time to read this. As regards your question; selling the relish in this context is all about making a product attractive to potential buyers so that they can buy. So in the case of shoes, good pictures will always be a good way to sell the relish. By good Pictures I mean, pictures taken with a really good camera and if possible by a professional photographer. The shoes can be captured alone or combined with really nice outfits. You can also make a video with a creative story line that tells people about the comfort and other things they’ll gain from the shoes. And when all these are done and its time to post or use the pictures or video for marketing, be sure to write a nice caption with it (where possible). It will sure complement and give more meaning to them.
Thanks.
This is very insightful. Indeed every buyer needs some level of conviction before patronizing a business. Especially when a buyer has fallen into wrong hands before, some assurance is always needful for sales. Communicating the “Added Value” and the “Relish” are such a way to start for sure. Accommodating the buyers’ fear and concerns, and taken the right actions towards them will also be helpful though. Thanks for sharing this.
Thanks for this. You sure have added more wonderful points and we really appreciate.
You are most welcome. I am a fan of your articles and designs. Thanks for always putting great efforts into your works.
I think the relish part has always been at the centre of every commercial video. Everyone wants everyone to feel good about patronizing his business. I will however like to advise that people should give great effort into delivering qualitatively. So that people are not disappointed after patronizing them, based on what their advert or marketing said. Great article as always. Well done on this DientWeb.
Thanks Mr. Bolaji. This was indeed well said. Trust is key in every business. Delivering on promises made in an ad is surely a great way to gain customers’ trust.
Keeping to promises is sometimes what many businesses forget to do actually. But the truth remains that satisfied customers will in turn become voluntary advocates for the business that duly satisfied them.
Well said. We totally agree!
I totally agree with you on that 100%.
Glad I could find this article. Its tells me anything can be sold if the focus is shifted to what it has to offer. Well written. Thanks.
We sure agree with you on your deductions. We are glad you find this useful.