Profit Strategy: What Your Business Needs Now to Achieve Its Goals!
Profit is the goal of every business. What separates companies that make money from those that fail?
Getting new customers, increasing current customer value, and keeping marketing expenses low are crucial elements in meeting profit goals. We surveyed over 2,300 small businesses across North America. Analysis of the data showed that small business profits fall into three basic categories.
Profitable and Expanding – 29%
These businesses are realizing large profit margins, and are reinvesting revenue into growing their companies. One quality these businesses share is a working business plan that clearly defines their goals and policies. They use their plan as the foundation for daily strategies and business activities. Employee accountability is generally high. At this level, marketing budgets average 15% of gross spending.
Low or Negative Profit – 52%
Most of the businesses we surveyed generated little or no profit. In general, there was no business plan in place, or their plan had become outdated and forgotten. Business decisions were made indifferently, and actions lacked full commitment. Marketing investments were around 5% of gross revenue.
Near Bankruptcy or Closure – 19%
Failed businesses accounted for a large portion of surveyed companies. A lack of marketing investment and almost no business plan were two major factors in the failure of these firms. Many of these businesses invested less than 1% of gross revenue to marketing efforts. A common theme around this group was "marketing is not a priority" or "we could not afford the marketing expense"
From the survey information, we can see that the roadmap to success is simple. The first step is to build a realistic, workable business plan that includes an economic action plan. Review the plan periodically, and adjust it to fit changing circumstances. Find ways to incorporate key parts of the plan into your daily business routines. Stick with your plan, and you will consistently outperform your competition. The second step is to invest in marketing campaigns and strategies that will get you noticed, engage your target audience, and convert them into paying customers.
While it is important to keep budgets low, not spending enough on marketing can mean death to your small business. The most successful businesses we looked at spent much more than their less profitable counterparts. Effective marketing is crucial to increasing sales.
At InfoEmpire, our purpose is to help small businesses make more money. We have thousands of happy customers all over North America in 29 different industries. Our proven strategy helps you get new customers and increase the value of current clients while reducing your marketing costs.
Our consultants work with you to custom design marketing strategies that bring maximum results and profits. The minimum average ROI (return on investment) is an astronomical 530%. The math speaks for itself!
Why spend more for the same results? Our costs are lower and our results are better! You can achieve the same results as the profitable and expanding businesses, at a lower cost.
Call us at 1-877-482-4678, or visit us online. Let us show you how to take your business to the next level and beyond!
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