PPT on 4 Strategies to Increase Profitability

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• Trackmax Software Helps You To Optimize Your
  Profits

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4 Strategies to Increase
Profitability

• To get maximum profitability, an organization
  has to set its pricing right. It can increase
  your sales volume and reduce your fixed costs to
  a great extent. But there is no fixed pricing
  strategy for amazing results. Knowing the
  changing market conditions is equally important.
  So your selling price should consider market
  conditions as well as cost. Here are 4 strategies
  of margin management to help you get more
  profitability.

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Prices should be set to capture value

• Prices should be consistent with the quality
  of the product. The price will define the value
  of the service or product and it is not
  associated with the cost of it. Customers usually
  choose the best deal, so you should ask yourself
  what you are offering to your customers and then
  set your price. You can also set different
  pricing for different versions of your products.
  This way you can differentiate your clients.

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Make use of pricing analytics

• By making use of an analytic tool that can be
  predictive you can plan for future and set prices
  or make a performance strategy. This way you can
  increase profitability using business
  intelligence software. This will allow the
  business to track goals, prices, and performance.
  This makes it easy for the sales department to
  decide on which product discounts can be given
  and when.

• You can also do price elasticity tests for
  your customers by removing discounts of certain
  products for some time and then check if there is
  any effect on sales. With proper analysis, you
  will be able to manage your product line and
  pricing in a way that will lead you to successful
  negotiations and better profitability.

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Get margin management software

• With proper pricing software, you can automate
  your product pricing and increase profitability
  too. You can even change your price based on
  market conditions multiple times in a day. This
  will help the sales team to give out pricing to
  customers from updates and information on a
  real-time basis. This way the sales person can
  negotiate on long-term contracts effectively.

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• If you have a product analysis tool in that
  software then it can help to boost your customer
  satisfaction and make the team more efficient. It
  will also impact the speed of order processing
  and you can offer substitute products to your
  customers too. You can offer package deals to
  your customers as the sales team will have a
  complete overview of customer behaviour and
  product offerings. It will also improve
  cross-selling and up-selling.

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Pay attention to customer loyalty

• Customer loyalty is important for
  profitability and growth. With a larger and
  stable customer base, you can expect growth and
  increase profitability because there is less cost
  for acquiring clients. If you focus on your
  customer needs and increase customer loyalty then
  you will get more profitability.

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• For more information about how to increase the
  profitability of your business visit our
  website www.trackmax.com. Our software will
  provide a complete solution to increase your
  business profitability.

• Contact Details
• Business Name Trackmax Solutions
• Owner Name Tom Rawson
• Address 627 Cape Coral Pkwy. W., 202 Cape
  Coral, FL 33914
• Phone [phone]
• Email tim_at_trackmax.com
• Website www.trackmax.com

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Thank You

• Website www.trackmax.com