Ann Marie Puig, an expert business consultant who works with companies around the globe, explains the different ways businesses can efficiently increase their operations.
San José, Costa Rica – WEBWIRE – Friday, April 22, 2022
Learn from past customers to attract new customers. Review your customer base to determine why they are drawn to you.
The next step after getting your business started is to figure out how to increase revenue. Ann Marie Puig, a successful entrepreneur and master business consultant from Costa Rica, reveals the secrets to making this happen.
You can do this by expanding your customer base. Youre trying to increase the number of customers. It is clear that more customers will visit your store or your eCommerce platform, which means more traffic, and, ultimately, more revenue.
Puig says, Learn from past customers to attract new customers. Review your customer base to determine why they are drawn to you. In addition, if you have conducted a speaking engagement that saw an increase in traffic, then look for other similar opportunities.
Revenue can also be increased by increasing the size of transactions. This means that every consumer who makes a purchase buys more. This can be achieved by upselling, or offering discounts for multiple purchases made in one visit.
You can do this by suggesting complementary products that they might be interested in purchasing. It is possible to make more money by upselling an administration or integral item after you have won a client.
Revenue will be increased if customers make more purchases. For example, a customer who makes a purchase once per month can be a motivator to make more purchases. Retention services can be used to encourage customers to return more often. Dont forget about past customers.
Puig asserts, Keep in touch with the business through email campaigns and email newsletters so that their minds will never wander. It costs less to keep clients coming back than to find new clients, so keep the communication open.
This is the obvious option – raise your rates. It is important to evaluate prices regularly to make sure they are competitive but also to keep them in line with market costs and expectations.
Youll get more income for each client who buys you. If you accept that your volume, normal exchange size and recurrence are equal, increasing your costs will result in more income for the same amount of exertion.
If you have more experience or new skills, increase your prices. You may initially need lower rates in order to attract customers. However, once your customers understand the value of your products, and your ability to provide exceptional customer service, increasing prices will be justifiable.
You cant raise prices arbitrarily in most cases. Products must be promoted in a way that increases perceived value. Promote prices along with the value that customers will get for the goods and services they are purchasing. Importantly, however, you must also consider your companys worth.
Your ideal customer is your target client and has a very specific definition. The ideal customer is someone who buys early and often, is most likely to spend the most, and is willing to pay more for quality.
About Ann Marie Puig
Ann Marie Puig is a business consultancy expert. She is bilingual in Spanish and English, and provides reliable and expert business consultancy services based on years of experience. She is extremely knowledgeable in current technology, eCommerce and a variety of industries. As a result, her clients are able to trust her to offer a more personal service. When shes not active consulting for a business, she dedicates her time to her family and her community.
Feb 2, 2022 | Business
Hitachi High-Tech Corporation (“Hitachi High-Tech”) today announced the restructuring of Hitachi High-Tech Fine Systems Corporation (“HFS”) on April 1, 2022, as part of Hitachi High-Tech’s key initiatives for our 2024 Mid-Term Management Plan. Hitachi High-Tech aims to create new businesses that will be a key part of our future, in tandem with the plans to further expand the growth and profitability of our existing businesses.
Through corporate divestiture, HFS will transfer its railroad inspection, HD/FPD(1) and laboratory solutions businesses to Hitachi High-Tech Solutions Corporation (“HSL”) and transfer its manufacturing functions to Hitachi High-Tech Manufacturing & Service Co., Ltd. (“HMS”). Furthermore, the prototyping, development, and other functions of HFS will be transferred to Hitachi High-Tech through an absorption-type merger, with HFS as absorbed company and Hitachi High-Tech as the surviving company.
Business Restructuring Goals
The environment surrounding society is changing every day with developments in digitization and the acceleration of innovations in technology. In order to respond swiftly to the changing market environments, the needs and business challenges of our customers in such circumstances, the Hitachi High-Tech Group is working on enhancing and integrating our core technologies, optimizing our manufacturing frameworks, and accelerating prototype development through Group-integrated business management.
This restructuring is one measure of these key initiatives we are working on, and by utilizing the core competencies (analysis and inspection technologies, production facility engineering capabilities, manufacturing capabilities) of HFS, one of the major group companies, the Hitachi High-Tech Group aims to reinforce our core Measurement and Analysis technologies, further increase the profitability of our fundamental businesses and strengthen the creation of new businesses that will be a key pillar of our future.
Business Restructuring Overview Summary:
1. Railroad Inspection, HD/FPD, Laboratory Solutions
We aim to integrate the laser- and magnetic-analysis technologies of HFS with the measurement and control technologies of HSL, and create new solutions that will be one of the core pillar of our future business.
2. Prototyping and Development
With the integration of the prototyping and development functions of HFS into Hitachi High-Tech, we aim to improve our development efficiency in product manufacturing through accelerated prototype development.
3. Manufacturing Functions
We will achieve high-efficiency manufacturing of Hitachi High-Tech Group products by concentrating our manufacturing functions into HMS.
Through this restructuring, the Hitachi High-Tech Group is looking toward creating new, highly profitable businesses from our core technologies of “Observation, Measurement, and Analysis” along with leveraging the core competencies of HFS to bolster the existing businesses of Hitachi High-Tech. The Hitachi High-Tech Group continues to work on creation of new social and environmental value, and aim to sustainably improve our corporate value.
(1) HD/FPD: Hard-Disk and Flat Panel Display
About Hitachi High-Tech
Hitachi High-Tech, headquartered in Tokyo, Japan, is engaged in activities in a broad range of fields, including Analytical & Medical Solutions (manufacture and sales of clinical analyzers, biotechnology products, and analytical instruments), Nano- Technology Solutions (manufacture and sales of semiconductor manufacturing equipment and analysis equipment), and Industrial Solutions (providing high value- added solutions in fields of social & industrial infrastructures and mobility, etc.).
The company’s consolidated revenues for FY 2020 were approx. JPY 606.3 billion [USD 5.7 billion]. For further information, visit http://www.hitachi-hightech.com/global/
Corporate Communications Dept., CSR Div.,
Hitachi High-Tech Corporation
Contact: Nishikawa
Phone: +81-80-9207-5949
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