Our economy is ever-changing and with it small businesses often re-think their marketing message. This is an important process but what about the products and services? Are they the same ones you presented to your customers last year, or the year before?
Customer needs are always changing and what they purchased in times past may not be as useful today and without the right mix of products and services, your sales may be down from year date to date.
Here are some ways to improve your offerings and increase your revenue:
Build a new service. Is there a service that you have not offered before that you could add to the mix? It could be a stand-alone service with it's own pricing structure or an add on to an existing service to make it "deluxe" where pricing is adjusted to reflect the changes. To be successful, the added service should compliment your esisting business line.
Go the other way on the above concept. Sometimes when money is tight customers refrain from making a purchase. What if you take something away to make a service more affordable? This might even create a different customer bade whichyou can up-sell or cross-sell later.
Leverage technological advances. Can you add a value or some technology enhancing a product or service? Do some surveys to find out what people are looking for and look at what your competition is or isn't providing. For pricing you can simply ask in surveys what customers are willing to pay?
Review your existing bundled services. Is it time to break them apart? Consumers may wish to limit their spending and if your packaged service is over their threshold, you may find they no longer are a customer. Always keep your bundled service available but look for the niche segment where a bundle breakup could gain new customers.
Communicate your changes. Your customers may never know that changes have been made unless you tell them! Communicate to the world at large as well and don't overlook the value of any media in the process. Think in terms prospects and existing customers with newsletters or email campaigns, press releases, a simple business letter, direct mail piece, updates on social media networks and a section on your website can often do the trick.