Updated: Jun 10
How much is the average spend of your customers?
How often do those customers buy from the business?
So what might happen if you increase the average spend by say 10%
What might happen if customer buying frequency increased by 10%
An example might be a hairdressing salon.
Increasing charges by 10% (additional services)?
Increasing visits from say every 6 weeks to 5 weeks. Booking next visit when customer is in the salon? i.e from say 8.6 visits to 10.4 per year. A whopping 20.9% increase!
Are you fearful of raising charges? You may loose a few customers but unlikely to lose 10%.
If you are nervous try 5%!
By the way most of the revenue increase will hit the bottom line! Do the maths!
Improve your profits, have less stress and more time for your family.
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