We’ve talked about how to create a profitable package for your business. The key to success is to keep testing, researching, and refining your offerings so that you can successfully stay in business. And to stay in business, you need to make more profits.
Here are the 4 steps to package your services for more profit:
Focus on your bestsellers
You’ve been in business. You’re selling to your clients. So you know which offerings are your bestsellers, and which ones aren’t that popular.
So start focusing on your bestsellers to maximise your profits.
You can try offering the same rates to your existing clients but they will have to commit to a longer term to get that price.
You can also add bonus items to these bestsellers to make it more attractive for new clients.
Just make sure you don’t try to push new rates on existing clients.
Calculate the true pricing
Do you know the true value of your offerings? It might not be the same as what you’re charging your clients.
Often times we forget (or miss) calculating all those extras that we tend to do in our offerings. For example, handouts, behind-the-scenes work, recordings, subscriptions to premium applications, and what not.
Have you accounted these while calculating the pricing of your offerings?
If not, it’s high time to do so.
It might raise the value of your offerings, but you have to qualify your offerings at the right pricing. If not, your business will be bleeding money.
Nurture your existing clients
Offer add-ons or bonuses to your existing clients, without giving away the farm. These can be new service previews or discounted offerings for your clients, if they agree to a longer term with you.
You can also try short-term giveaways, referral programs, etc.
And finally, try changing the operating procedures. For example, you can switch to a monthly subscription, instead of single sessions. Offer value and reel them in.
Ramp up your marketing
Be active on social media, like Instagram to showcase your work. Share successes and failures. Go live and connect instantly with your leads and clients.
Make sure your website is easy to use and quick to load. Offer tutorials. Write helpful and interesting blogs. Make them come to you.
And then after 3-6 months, take account of your efforts. Which marketing strategy brought in the most revenue?
The analytics data might not give a straightaway answer, but as you go through it, you will be able to deduce which marketing efforts are cost-effective for you. This way you will know how to optimise your marketing for more profits.
Now, over to you..
Are you following any of these 4 steps to package your services for more profit? Share your experiences with us.
If you haven’t tried any of these steps, start today.