Do you know the two things McDonald's and GoDaddy have in common? By the time you checkout; your bill or payment is tripled due to the extras added.
The big question is “are you charging enough”? There are several signs to show a business is not pricing itself aggressively. One is the sales team meeting target easily, figuring out how to price your business can be tricky and complicated but the downstream is to achieve business goals, you need to raise your price to meet your long-term business goals.
For example, if you are in domain registering business, while a customer is checking out, simply offer/add a hosting plan for the new domain to the purchase, since that would work obviously, you can offer personalized email service or SSL certificate that way instead of earning $10 per customer, you are getting $35 to $45 due to the extra toppings.
Read MoreThe sales and communication team should give priority to running periodic sales challenges and giveaways with huge discounts. This would amount to a recurring revenue for your business on a large scale. Businesses in the E-commerce niche could run weekly or monthly discounts sales to increase revenue and discard old stock...
