01/22/2023
Why๐ค your sales are not increasing even though you are motivated๐ to make more ๐ฐmoney ๐ฐ+ How Adaptive Bookkeeping Solutions can help ๐ช๐ฝ you with just that!
Do you know what your numbers are telling you ๐ค and three ๐ฅbig ๐ฅreasons you might not be seeing an increase in sales in your company?
No? ๐ค
Okay no problem โค๏ธ- Weโre going to talk about it RIGHT NOW! ๐ฅ
Before we get started feel free to save this post or send it to your staff ๐ฉ๐ปโ๐ผor business๐ข friends so they can help you put this into action! โจ
๐๐๐๐ซ๐๐ญ ๐๐ฎ๐ฆ๐๐๐ซ ๐:
Letโs quickly talk about 3 metrics you can measure to increase your sales!
First, Letโs discuss one of my favorite words!
ROI or Return ๐๏ธ on Investment ๐ฐ
1. When you are using paid marketing, advertising or even sending your team members ๐ฅto represent you at trade shows you should measure the return on investment.
2. By asking ๐ฃ your clientele where they heard about you or where they bought your product you can easily define what marketing strategies are WORKING and getting you the return, ๐you desire and what ones you should no longer pursue.
3. For example, if you are putting an advertisement in your local ๐๏ธNews Paper ๐๏ธ but never see patients/customers come from it - then it might be time to ๐๏ธditch ๐๏ธ it!
๐๐๐๐ซ๐๐ญ ๐๐ฎ๐ฆ๐๐๐ซ ๐:
You should know ๐ก your Customer๐ฅ Lifetime Value or CLV
By knowing๐ก your patientโs ๐ฅ lifetime value, you can determine how much you can spend to obtain a new client.
If you can see๐ a patient spends on average ๐ฒ5000 with your practice, wouldnโt you be more likely to see the benefit of obtaining a client for ๐ฒ100?
The largest clinics in your industry are monitoring๐ก their weekly production or revenue generated ๐compared to the labor costs they are incurring.
You can easily ask๐ฃ๏ธ a member of your team to send you this information ๐weekly on Fridays or whichever day your payroll is run๐๐
Comparing how much revenue or sales that were created ๐compared to the payroll ๐expense is telling.
In your practices you will want your payroll ๐to be anywhere from ๐๐-๐๐% of your total revenue๐. ๐ฐ๐ ๐๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐ ๐๐๐๐?
*** ๐๐ ๐ง๐จ๐ญ - This should motivate you to either bring downโฌ๏ธ payroll costs or get yourself and your team to increaseโฌ๏ธ their productivity.
๐๐จ ๐จ๐ฏ๐๐ซ๐๐ฅ๐ฅ, If growth ๐is great you have the proper bookkeeping software and professionals ๐งโ๐ผmaking sure your business ๐ขis set up and ready for itโฆ
Butโฆ if we donโt use the numbers ๐ to make decisions about your company's financial futureโฆ Bookkeeping really isnโt going to do much ๐ค for you.
Ask your team to get these reports ๐for you and hold them accountable for doing so. Also - Hold yourself accountable for taking the time โณ to READ the story your numbers are telling you.
Most important ๐ฅ Donโt forget- profit ๐ is something you plan for in the beginning, not add at the end of the year.
If you currently don't have a team ๐ข to support, you in this please feel free to reach out to us so we can see ๐how we might be able to help.
Comment โMORE MONEYโ if you think we can help you โฌ๏ธ increase โฌ๏ธ Revenue ๐ต in your company ๐ฆ by implementing these strategies in 2023
