Skip to main content

How Offering A Premium Support Service Can Increase Your Profits And Margins

You’ve probably bought electronics before and been offered the purchase an additional warranty. Or maybe you’ve purchased furniture before and been offered a white glove service to deliver and setup your new couch.

These are all examples of premium support services that can have very large profit margins, so even if only a smaller percentage of customers take you up on them, they can add a lot to your bottom line.

Some of these premium support services can be at little to no cost to you. For instance, one business we’ve seen had a warranty offer where you could get free replacement charger cables forever on your phone, if they ever fail, for a small one time extra fee as long as you just cover the small shipping and handling fee. However, these cables have such huge margins anyway that the small S&H fee literally covered the cost of the cables and the shipping. The “warranty” that was sold was essentially 100% pure profit, despite how it would appear to be an awesome deal for the buyers (paying $5 for S&H instead of $29 for a new cable sounds like, and is, a pretty good deal).

You can even sell access to one on one help, a Facebook group page for extra (and faster) help, etc. Some of these offers you can literally put together in a few minutes, yet some people will naturally buy them just because they think they might have a use for it one day.

Another example would be offering faster support, faster shipping, faster service, etc. All of these can have huge margins for little to no extra work!

So brainstorm at least a couple of extra premium support services that you can offer your buyers (like extra warranties, faster support, faster service, etc.) that come with huge margins despite not really increasing your costs much, if at all.

To find out more tweaks that could drastically change and increase your business, check out our business analyzing tool here BizFire's Free Business Analyzer and Growth Tool.

Comments

Popular posts from this blog

Real Estate Affiliate Programs

The Average Cost Of Selling A Property An open house inspection is an excellent opportunity to present your house at its best to as many buyers as possible. When you are considering how to sell your house, you need to weigh up the benefits and risks of both a private sale and an auction, and make the decision that is right for you. Every business can expand and grow, rapidly, when the people behind it have an open mind. Each approach has its own benefits, challenges and risks, so it is important to understand your options and make an informed choice about how to sell. Among all the top affiliate niches, real estate can have some of the largest transactions. Real estate agent commission on selling a house can vary dramatically, so you need to know what you are getting for your money. Great Real Estate Marketing You can earn up to 15% commission on referral traffic or sales as a real estate affiliate. As a real estate affiliate, you can promote any of the products on the website for a ...

Law Of Attraction Affiliate Programs

Products You Can Promote And Receive Commission For Every sale generated through the unique affiliate link earns the affiliate a 10% to 15% commission. You can become an affiliate for Flipkart and earn enormously, up to 15% commission on the purchase made by your referrals or through your links. An affiliate is a person who promotes a product of a business/industry, gets a commission on each sale of the product purchased through their links. All you need to do is sign up, receive immediate approval, and place Amazon affiliate links on your site. Once your account is activated, you will get links, banners, and so on that, you can use to promote their products including their monthly membership. As an affiliate marketer, you can promote products from many different companies and earn commissions from all of them. A 30% Lifetime Recurring Commission Affiliates can take advantage of a generous commission rate of 5% and an above average cookie period of 90 days. All you need to do is sign...

Best Fantasy Sports Affiliate Programs

The Daily Fantasy Sports Industry Sports affiliate programs are a great way for sports fans and entrepreneurs to make money by promoting products and services related to their favorite sport or team. One of the key skills of an elite affiliate manager is learning which hats to wear, which to juggle, and which to delegate. As long as you create valuable, high-quality content, affiliate marketing in online sports betting may help you make a tonne of money and ultimately expand both your company and the services of the brand you are supporting. Sports affiliate marketing, in particular, presents an enormous opportunity to promote sports and lifestyle products. The popularity of the brand, combined with the high cost of the equipment, makes it an obvious company to support if you are into golf affiliate marketing. The platform is pretty straightforward and allows you to choose a sports league and quickly look for any active contests in your sport. The Commission Rate For Affiliates Every...