Are You Surprised?
This month, I was working with a small business in the skin treatment industry. During the course of the day, we walked through the LIFFT® Process together.
There were several discoveries which often happen during the course of this 5-Step process. When looking at the list of services this company offered its clients, we learned some of their services were not very profitable. The company has decided to drop these services. When they launch their new website in late September, these services will no longer be listed.
In order to invest wisely in marketing for your organization, it is important to review your product and/or service mix. You must be willing to consider minimizing or even eliminating products or services that cost your company money or negatively impact your bottom line.
On the up side, you will have more time and energy to focus on the products or services you know will expand your profit margins. With this comes the creation of a marketing action plan to direct attention towards those products and services you know will increase your organization’s sales and profitability.