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5 Ways to Increase Profits PDF Print E-mail
Written by Gavin Allday   

There are five key ways to proactively increase profits in your business:

  • Increase the number of leads you generate
  • Increase your conversion rate
  • Increase the average number of transactions per customer
  • Increase the average transaction value
  • Increase your profit margin
The question is, could you increase each of these areas by just 10%?
 

Let's take a look at an example:

  Current
Target
Leads
100
110
Conversion Rate
20%
30%
Number of Customers
20
33
Average Customer Transactions
2
2.2
Average Transaction Value
1000
1100
Turnover
£40,000
£79,860
Profit Margin
40%
50%
Profit
£16,000
£39,930


As you can see, a 10% increase in each of the five areas produces more than double the profit at the bottom of the table.

To obtain further tips on how to increase each of these areas, visit the Training Calendar and have a look for the 'What Next' Course.

 

 
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