Question # 35 - How can I double my profit?

If increasing sales is one of your business’s goals for 2025, I have a few ideas on how to improve sales.

The key is to do it by not increasing costs.  What are ways to increase sales and minimize costs at the same time?

1.     Increase prices (inflation is real!)

2.     Improve conversion rate – do you track it?  You should!

3.     Average transaction value – what is your average transaction value?  By simply improving it – the same number of transactions – you improve sales

4.     Number of transactions per customer – sometimes following up with a customer a few months after their purchase results in another sale.  Do you follow up?

5.     Increase the number of leads you get by:

a.     Offer a Sale, promotion, or discount when buying more

b.     Share valuable content on social media daily – commit!

c.     Host a giveaway 

d.     Give away a freebie to collect emails 

e.     Send email newsletters once a week 

f.      Ask customers for testimonials 

g.     Ask customers for referrals 

h.     Create a referral network with other business professionals 

i.      Optimize your site for SEO 

j.      Update titles, descriptions, images, and bio’s to be SEO friendly 

k.     Go to networking events 

l.      Share valuable content in Facebook groups you belong to

m.   Share content to your personal profile There are many more but these are my favorite.

My name is Diana Miret.  As a Christian fractional CFO, I provide financial counsel to businesses earning between $1M and $10M to increase profitability, optimize cash flow management and heighten financial confidence and clarity.