Saturday, February 1, 2020

Profit Margin Formula 2020 - Too Profit

What is Profit Margin Formula?

Profit Margin Formula - This is a strategy for how to make the most profit possible. This formula is very used by many giant companies. If you have any business: Local Shop, Restaurant, Coffee Shop, Company, E-Commerce, Website, ETC. Then this post can help you very much.

There are five things we need to know before creating this Profit Margin Formula. 

F C B C G Formula.

1. Find the exact customer.
2. Customer needs and problems.
3. Be friendly to the customer.
4. Collect customer information.
5. Gives small gifts and cupon.

How To Find Your Exact Customer?

The customer is king for any business. What is your business? Who is your customer?

If you have a restaurant then your customer is - Couple, Travelers, Collage Students, Kids, Employees ETC. Thay is Your Exact Customer.  But Doctors and Bodybuilders are not Your Exact Customer.

How To Find Customer Needs and Problems?

If you have an E-Commerces Business. You need to find trends problems and solve them. Suppose, You sell a lot of smartphones to your customers.

Since they bought smartphones they will need Headphone, Phone Cover ETC. This is your customer's needs.

Be friendly to the customer.

The customer is very respectful to you if you are friendly with the customer. This is very important for recurring revenue. Many businessmen follow this.

How to Collect customer information?

Many ways have to collect customer information.

  1. Give some offers and collect customer information.
  2. Lance some giveaway.
  3. Give some forums.
Benefits: Now you have your customer information like Mobile Number, E-mail address. You can contact your customers to sell more.

Gives small gifts and cupon.

Always customers like gifts and cupon. This is very important for your business. If you have any business then please do this. It is a very useful tip. 

You give small gifts for every sale. 

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