How Packaging Your Business Can Increase Your Income
There are many business growth strategies that small businesses and entrepreneurs can use to increase their income and fees right away. One of the most successful methods is by using business packaging.
Business packaging is essential to grow your business beyond your competition. In fact, if you look at most successful businesses out there today, you’ll realize that it’s their packaging that makes them stand out from their competition.
But, before I get into how you can implement business packaging to increase your income, let me first explain to your what business packaging is all about.
There are two types of business packaging:
- Packaging your deliverable in a way that makes it stand out, become more memorable and “appear” more valuable than what others offer,
- Taking your typical products and services and either bulk them together to come up with a more valuable offer or adding additional components to increase the “perceived” value to your customers.
Now that you know the two types of business packaging, let me give you an example of it.
When I was in the mortgage business, I provided clients with a commodity, a mortgage loan. It was like buying coffee; since it can be bought anywhere and at any time, the price was the usually the only comparison.
So, as you can imagine, many people came to me as rate shoppers and wanted to get to the bottom line; what’s your rate and what’s your fee.
While I’ve always been good at selling, I noticed that some of these people never came back to me to get a mortgage. I knew I had to do something. I knew I had to do something different if I wanted a different result.
I began using different types of mortgage marketing methods that I thought would give me better clients. When those clients would contact me, I’d now tell them that we do complimentary mortgage reviews to help them determine if there existing mortgage was the best option and if not, what would be the best for them.
I created special reports to show them the need for mortgage financing. I also created a professional document that displayed to them everything they’d get when they got a mortgage through my company including scheduled annual mortgage reviews, free credit reports every 3 months, complimentary tickets to my financial workshops, and coupons for their friends and family (for referrals).
All of a sudden, the rate at which “rate shoppers” decided to work with me increased since I now was not just offering a mortgage, but an entire suite of financial tools and resources to help them manage their money better.
It was the business packaging that I created that allowed my income to increase through both increased fees for my now premium service as well as the conversion of more leads since I wasn’t just offering a mortgage.
How can you start using business packaging this week?
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