Ain’t No Guru | Reduce Costs

Hi Guys it’s Luke here from ICPrint. with another insight into how we almost doubled our business in the last 6 months.

One of the things we did was, we found a way to market our product significantly cheaper than our competitors, not by cutting our margin but by reducing our cost of delivering the product. So, in our case we are printing things more efficiently by printing them on one big print run, and its sharing the set up costs with our clients so we are able to do it that way. But if you are other businesses you could find a way, if you are a lawn mower you could offer the next door neighbors of the lawns you are moving 20% off for example and because you are not having to drive to the job, you are already there obviously there is a cost savings there with the driving time, fuel for example, to get there, you are able to cut more lawns in the one day. You can pass on the savings that way, and beat the competitors by giving them that deal. Another example could be a personal trainer, if you are doing two people, obviously it’s not the same as doubling the cost as one person because they are there together.

So, bring a friend for 1/2 price to a private personal training session is another example. Or even you see examples of this at shopping centres, Woolworths you see 2 mars bars for only $2, where as 1 mars bar is $1.50. what they are doing there is the cost of the transaction, they are paying someone to take you money or talk to you, that transaction cost is removed. So a great way to do that is offering people that are already buying something a special deal on another product to up sell, to go with it. Have a look in your business for ways that you could reduce your costs in a product or service that you deliver then pass on the savings and put that in your marketing. That’s what worked for us, just wanted to share that with you, hope you have a great day, speak to you soon.


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