Increase The Value Of Your Transaction
In this section of our business growth series, we focus on increasing the value of your transaction. This is simply increasing the amount that your customer or client spends with you when they come to buy.
Let’s look at this in some more detail.
You can charge people more – simple as that? Well that is one great way to increase the value of the transaction but not the only way. McDonalds will tell you that turning it into a combo is just what you need. Or adding a cookie at Subway. By adding additional offerings, they are increasing the value of the transaction for the customer. Think about how you could do this in your business and don’t be shy to alert customers to the fact that you have the opportunity to buy more – Subway are still asking if you’d like a cookie even though you walk past them on the way to payment.
In your business you could even ask current customers what they’d like you to be able to provide – you might be surprised with the ideas they have for you.
The above should seem easy enough and probably make a lot of sense but to benefit, you need to commit and make some time to work on your business to discover some of the opportunities that are sitting right in front of you.
If you need help to do this, we’d love to be a part of that. Contact Us and we can help you execute on what may only remain as thoughts.
What ever you choose to do, we hope you have your best financial year to date.