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The Secrets of Continuity and Profitability in You
The Secrets of Continuity and Profitability in Your Business
My father used to tell me, “go look it up”, every time I wanted to get a quick definition to a word I had not heard before. I gotta tell ya, that was very frustrating for me. But, fear not, because I will tell you what it means. From Webster’s Encyclopedic Unabridged Dictionary of the English Language, here is the definition of continuity: a continuous or connected whole. Now you are probably thinking, “what am I talking about” and “what does continuity have to do with my business”? My answer: EVERYTHING! That is to say, if you want to make a lot of money, increase your cash flow and create a predictable base of income. Continuity in your business means creating ways for uninterrupted means of cash flow from your customers for something that is easy for you to deliver. This concept is used in the information marketing business and the mail order business all the time. Some examples are magazine subscriptions, book-of-the-month-club, CD-of-the-month-club, Proactive Skin Care products, Columbia House, Netflix and so on. I find examples all the time where this is done on a regular basis by companies just like yours. You don’t need to re-invent the wheel, especially in tough economic times. Think and learn from others. Recently I have seen a couple very good examples from regular businesses that many of you are familiar with. There is something to learn here. Info USA: This company deals in mailing lists. These lists are normally sold on a per name basis for a few cents per name. Info USA has an annual continuity product that gets you xxx number of names for a set price and if you need additional names over your initial purchase you can get them at a lower cost. Your subscription automatically renews itself every year on your anniversary date unless you cancel. Amazon.com: Amazon sells books, one book at a time and has come up with a test membership program called Amazon Prime. As a prime member you get free two-day shipping on all books ordered. Plus, overnight shipping on any order for just $3.99. They are offering a 3 month trial membership which then bills your credit card $79 annually. This automatically renews until you cancel. Think about how you can adjust this concept and offer a continuity product to your own customer base. Maybe only a small percentage of your customers will use your new service, but you will create recurring revenue that you can count on. If your continuity product is monthly you can develop a prodigious monthly base that can add significant cash flow to your bottom line. The opportunity here for increased revenue is that continuity programs work and they can mean huge profits in your business. It may take some creative thinking and imaginative solutions. Things your customers consider important now, such as, weak economy, trouble in the financial markets and credit availability, are things you definitely need to consider. There is hidden wealth buried in your business, all you need to do is find it. About the Author: Hal Hoadley has 24 years experience Marketing to the affluent, big and small business owners who want everything done for them. Hal brings the internet and snail mail together for a one two punch with high tech tracking promotions that are highly responsive events. Nice Tips to real cash
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