Businesses Can Increase Profit Margin by Focusing on Higher-Margin Products

Many businesses find that despite their strong sales, they’re not making enough profit. One reason for this may be that they have allowed low-margin products to become their mainstay. A viable solution to this is to shift their focus on higher-margin products. To achieve this, a newsletter can be used to emphasize the benefits of these products among both customers and employees. It can also educate employees about the advantages of selling products with higher profit margins. Additionally, it can inform customers about these products’ existence, how to purchase them, and the benefits of using them [1].

Transforming Products from Commodities to Branded Status

Branding a product provides several advantages over treating it as a commodity. One of the critical benefits of branded products is the control over pricing. But, transforming a product from a commodity to a branded status is a process that requires incorporating some value-added features. Once the value-added feature has been added, customers must know about it. A marketing newsletter can help communicate these features to customers. It is essential to increase a commodity’s price while explaining the benefits to the customer. This ensures that the customer understands the added value and appreciates the extra benefits they receive. [2]

Expanding Market Share by Entering New Markets and Territories

Salespeople typically focus on existing customers and businesses. However, this is not always the best long-term strategy. It is essential to prospect for new customers and penetrate new markets to expand a company’s market share. Although prospecting and developing new business takes time to yield results, it is necessary to remain competitive. A marketing newsletter can be an effective tool to help penetrate new markets. It is useful to use lists prepared by salespeople or representatives of the areas that need to be targeted. The newsletter should be sent via mail or email with a response form to make it easy for potential customers to contact the company for more information. It is essential to send multiple issues of the newsletter to improve the chances of developing new business [3].<h2>The Significance of Internal Marketing</h2>

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SMEs - Have you Got Your Digital Marketing Sorted?

Marketing usually focuses on externally-oriented activities, but some experts argue that internal marketing matters too. Essentially, internal marketing helps ensure that everyone within the organization understands the company’s products and the reasons customers should buy from them. It is vital that everyone in the organization has a positive attitude towards the products and is willing to endorse them. While articles in marketing newsletters are usually targeted at external customers, they should also be kept in mind when communicating with employees. [4]<h2>Reducing After-Sale Dissonance</h2>

After-sales dissonance is the natural tendency to question whether a good deal was received after purchasing something. Customers who feel that they have received a poor deal are less likely to be repeat customers, and they can cause other problems. To reduce after-sale dissonance, companies can publish the names of some prominent customers who have approved of the company’s products. This gives other customers the confidence that they are in good company. Also, reporting on the number of purchases made in a specific period can provide customers with a sense of security. [5]<h2>Customer Feedback Is a Powerful Resource</

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