An Ingenious Method to Increase Profits

Here again is a business lesson from real life. If you apply the following, you can double your profits relatively simply (although the implementation is, of course, never quite as easy).

Over Christmas, I was with the family in Baden-Baden, which is famous for its thermal baths. One of these spas has an interesting offer: you go through 17 stations that build on each other to maximize the positive experience. The price of this experience is about twice as much as a comparable offer from another spa. 

Now comes the exciting part. These 17 stations are nothing more than any other thermal bath has to offer: showers, hammam, pool, jacuzzi, etc.

So, what happened? The “17 steps” communicate a value that “two-hour thermal bath” simply does not suggest. 

How can you benefit from this strategy in your business? Here are three ideas:

1. Packages. Create packages for your services and products that suggest a logical choice for your customers.
2. Clarity. Be very clear in communicating the “unique process” from which any customer can benefit. Add YouTube videos and other modern forms of advertising.
3. Pride. Make sure that your sales team (and you) are proud of the offer and enthusiastically explain it to the customer.

These three steps sound simple, but they are full of pitfalls when it comes to implementation. ➔ Click here to plan a meeting with me.