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Some DIY Experiments to Increase Profits

by Arianne Foulks

June 3, 2014

Some DIY Experiments to Increase Profits

We talked earlier about the right time to invest in a website, and I mentioned that I would be following up with some information about what you could do in the growth period before hiring help with your website. We have also been talking a lot about good, hard work around here, and this follows those posts with some practical advice for what kind of work you should be putting into your business.

If it’s sadly not the time to put money towards a new website, what can you do in the meantime while raising the funds to have your website redone?

Experiment with products

What consistently sells well? What has been a flop? What has a high profit margin? What are you earning less than minimum wage on? Hone your product line so it fits your brand, makes you money, and keeps customers interested. Read some success stories here.

Experiment with pricing

Is it time to raise your pricing, or increase profits without doing so, both to boost revenue and to increase demand for your work? Would bundling two products together help, or finding another way to inspire customers to add more to their cart? Read some pricing articles here.

Experiment with your brand

Not just the logo, but your mission statement, style, target customer, colors, packaging, etc. Write a manifesto for your business, or a description of your perfect customer. Make sure that the brand vision you have come up with looks the same everywhere you present yourself. Read some branding articles here.

Experiment with your website

If your website is looking dowdy, could you purchase a new design theme? Adjust the layout for ease of use? Change the photos and text on the homepage to get your customer interested? Try a new software platform? Read some website case studies here.

Experiment with your copy

Could your product descriptions,  homepage text, or other text on your site use some help? Is everything on your site that magic mix of informative and really interesting? Read some copywriting articles here.

Experiment with photography

There are hundreds of tutorials online for improving your own product photography at home. If you have photos you’re not happy with, try re-taking them. Do your products look better styled in a scene? Are they something that should be modeled? Read some photography articles here.

Experiment with venue

Where can you sell your product? Have you tried your own site, Etsy or another marketplace, craft fairs, trunk shows/pop-up shops, retail shops? What works well for you?

Experiment with promotion

What ways can you get word out about what you do? Could you put some work into your blog or social media presence? Do you regularly promote your work to bloggers, magazines, and other media? Could you collaborate with another small business? Read some marketing articles here.

Get some help!

If doing all of this yourself is wearing you out, we are happy to be your team on anything from copywriting to photography to help with a marketing/publicity plan of attack. It is usually too much for one person to do, and we would be delighted to help you tackle your to-do list. Get in touch!

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