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5 Step Proven Profit Formula for Growing Profit
Proven Formula for Growing Profit
At Spark Lab Consulting, it is our mission to provide small business owners with clarity, confidence, and control. We base our marketing on a proven system yet are innovative in our approach.
We believe there are five critical steps that every small business owner must address in order to attract new clients and generate more revenue:
Lead Generation + Conversions + Average Sale Value + Number of Transactions + Profit Margins
Before we get to work on your marketing, we like to take a look at the big picture for your business in order to make the most impact possible.
5 Steps to Attract New Clients and Generate Revenue
At Spark Lab Consulting, marketing is one of our key systems, however, often times a business needs to analyze the following 5 components first in order to grow in a smart way.
Complete the short form at the bottom of this page to book a 45-minute consultation to uncover ways to accelerate your profit.
The lifeblood of every business is leads, well it’s actually customers, but it starts with leads. In an attempt to generate more leads, you can throw a lot of money at a lot of things these days - online ads, social media, radio, and the next thing that the internet comes up with. It’s frustrating, to say the least. But here’s the good news. All you really need is a proven marketing system (and we are here to help you with exactly that!).
Once you have a solid foundation of leads coming in, the next step is turning the leads into customers. From marketing funnels that automatically grow your business to turning more customers into raving fans, the next piece of the formula is focusing on conversions.
Average Sale Value
Pricing is one of the least understood components when it comes to owning a business. Suppose you sell a product for $100 and the net profit is 15%. If you increased the price by 5%, that additional 5% is pure profit. Your net profit just increased from $15 to $20, that’s an increase of 33.33%. In this piece of the formula, we look at your average sale values.
Number of Transactions
The “lifetime value” of a customer is a look at what a customer might be worth over the course of doing business with you as opposed to a single transaction. In this section of the formula, we look at how you can grow your number of transactions with existing clients.
When looking at profit margins, we will look at different ways you can cut down on your expenses without affecting your day-to-day business operations. From there, we will help you shift your focus on properly identifying and then targeting your ideal clients.
Book a Free 45-minute Profit Accelerator Session
Coaching is one of the smartest investments any business can make. Complete the short form below to book a 45-minute profit accelerator session to analyze your unique business and uncover the results that are possible to grow your profit.