In fact, the opposite can be true. Changing your marketing techniques could start to bring in fewer sales, yet be more successful. How? Because successful marketing is about profit, not turnover. It’s a basic principle, but one that’s often overlooked.
So just how can you develop your marketing techniques to improve your profits?
Pay close attention to pricing
Do you know what each product or service costs you to make or deliver – and is your selling price calculated accordingly? If you’re not constantly on top of your costs, you can’t be sure of profits.
Work on what’s profitable
Could you be allocating too much time to marketing products and services that aren’t particularly profitable, and not enough to those that are? If you’re not sure which parts of your business bring the best returns, it’s time to find out.
Consider your customers
Some customers help your business flourish, others drain it of resources for very little return. Think about which category each of your customers falls into. How many do you consider to be ideal customers for your particular business? What can you do to find more like them?
Measure your marketing activities
With more marketing techniques available than ever before, it’s even more important to track what you do and the results you get in order to avoid wasting time and money. Once you know what works, do more of the same!