Eleven Strategies to Grow a Profitable Business With Low Price Point Products

by | Sep 18, 2017 | Growth & Sustainability Strategy | 0 comments

Episode 20 Show Notes

I received an interesting question in a Facebook group from a business owner who creates PDF sewing and craft patterns and they currently retail at $9.  She asked, “How do I make my business profitable and make big numbers when I have such a small point product that I sell? Do I have to advertise to a whole bunch of folks to really make a living? How does it work when you have a small price point product to sell? How do you make that profitable?”

The bows that I sell on Because of Zoe Designs are low price point items, so I thought this question presented a great opportunity to think about what I’ve done to create a profitable business and what I would recommend if I had a client come to me with this question. In this episode, I’m going to share 11 different strategies that you can employ in your business if you sell a low price point product.  I’m also giving you a free downloadable chart with these strategies to help you walk through, you can find the link to the download below! 

ELEVEN STRATEGIES

I’ve gone into great detail in today’s episode (and in today’s freebie) on each of the eleven strategies–and I’ve included photo examples in today’s freebie!  You can download this week’s freebie detailing the eleven strategies below.  Here are the eleven strategies to grow a profitable business when you sell low price point products.  Remember to download today’s freebie for details on exactly how to turn each strategy into action!

  1.  Ensure that you’re always offering your customers variety.

2.  Offer something new frequently.

3.   Suggest multiple purchases in the way that you list, advertise and discuss your products.

4.  Turn your products into a higher ticket item.

5. Sell a by-product.

6.   Sell your products in bundles and collections

7.  Know your numbers

8.   Have a system in place that is ongoing and consistently cultivating relationships providing for your current customers and advertising and seeking a new audience.

9.  Wholesale.

10.   Do NOT offer global sales.

11.  Offer free shipping at a threshold amount.

Highlights

  • Ensure that you’re always offering your customers variety [00:05:12]

    Offer something new frequently [00:08:33]

    Suggest multiple purchases in the way that you list, advertise and discuss your products with your audience [00:18:30]

    Turn your product into a higher ticket item [00:25:16]

    Sell a by-product [00:30:46]

    Sell your products in bundles and collections [00:37:51]

    Know your numbers [00:40:54]

    Have a system in place that is ongoing and consistently cultivating relationships and providing for your current customers and advertising and seeking a new audience [00:47:42]

    Wholesale [00:49:43]

    Do NOT offer global sales [00:51:31]

    Offer Free shipping [00:53:49]

Action Steps

  • Download today’s freebie (linked above) and chose which of these strategies you will employ.  Remember, there is no need to try to do each and every one of these strategies at once.   Let me know which you decide to work on by tagging me on Instagram or leaving a post in my private (and free) Facebook group!

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Shunta Grant

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Hi there! I’m Shunta, I work with women who seek success in their businesses, but not at the expense of joy in their lives!  I teach them how to build and grow successful businesses that keep customers coming back time and time again. When I’m not helping women run businesses they love, I’m reading a good book, taking a class at the gym or walking the aisles of Target and TJ Maxx with my daughter Zoe.  If you believe that both your business and your life can be filled with joy, come hang out with me here on the Business, Life & Joy podcast.

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