Tips to Boost Revenues in 2011
Although the economy is showing signs of improvement, we aren’t there yet. As a result, many in the tanning business community are searching for ways to boost their revenues. Forbes.com has a great list of tips to give entrepreneurs ideas on where they can improve their services to fit with the changing economy.
One suggestion is to change the way you deliver and sell your services. Many people cut back on perceived luxuries during an economic downturn. However, goods and services that are viewed as “affordable luxuries” tend to still do well. You can repackage your services and lotions into affordable deals that will appeal to customers, but won’t eat away your profits. By offering these “affordable luxuries,” customers can feel like they are treating themselves while not breaking the bank.
Another tip is to increase your recurring sales. The article suggests doing this by offering membership or loyalty programs. The idea is to give incentives to clients, such as discounts or adding value to packages, in return for them making a monthly commitment to your salon.
Since competition is fierce for consumer dollars, businesses are experimenting with new strategies. By adapting to the changing marketplace, your business can strengthen existing sources of revenue and even create new ones.
