customers

One of the five ways to increase profits and retain customers while keeping costs low, is a loyalty program. Image of a customer using a loyalty card.

5 clever ways to increase profits and retain customers

When big businesses are tasked with increasing their profit margins, one of the quickest ways they create an increase is by cutting costs. However, many small businesses don’t have much fat to trim. So here are five ways you can increase profits and retain customers while keeping costs low.

Creating an emotional appeal for your business

It is well-known that to influence people to change their behaviour, you need to appeal to them on an emotional level or apply the “what’s in it for me” principle. In other words, people need to work with both intellect and emotions. Either one on its own is like rowing a boat with only one oar.