Incremental Income in Addition to Your Core Business

Incremental Income in Addition to Your Core Business

We are in a recession, whether we like to admit it or not! With the current financial crises, company layoffs, and the lack of consumer confidence, it is crucial to get extra cash from every available source you can. Although the economy has started to slow down, consumers will continue to spend albeit discretionary. 

Today, more than at any time since the “Great Depression”, companies are looking to increase their cash flows from other sources. Competition has always been healthy, but with squeezed profit margins, only the creative companies will survive.

The question now becomes, how can you add extra income to your core business? Marketing through service offers some excellent suggestions on how you can accomplish this. One way is through incremental income.

Incremental income is in addition to your core business. An example could be by selling or including a gift with the product or service you are providing. Say you are in the clothing/pet food store/restaurant business/, you could give a personally signed “Thank You For Your Business” card, along with a 10/15/or 20% coupon off their next purchase. This “Free Gift” will keep your customers coming back and they will be more than happy to tell their friends. The result will be a loyal customer who in turn will get you more loyal customers.

If you are selling a product, say in a food store, encourage the buyer to purchase a colorful canvas shopping bag. The bag should look attractive with your store name & logo on it, along with something like “I am helping to save the planet…recycle”. Everyone that uses the bag is advertising your store for free. You will see they will use this bag to purchase other goods in other stores, but the bag will continue to advertise your store, your business. It also tells consumers that your store is responsible, cares about the landfill problem, and wants to protect the environment. Green business!

Check out my website “Marketing Through Service”, it is loaded with business information on; marketing, sales, customer service, and how to increase your business revenues.  Click on, http://www.marketingthroughservice.com