3 Ways To Increase Profitability From A Good Bookkeeper
When you think of bookkeeping, you’re probably thinking financial reports, receipts and taxes. But the reality is that a good bookkeeper is also there to help you uncover ways to grow your business. Whether you employ a virtual bookkeeper or a traditional bookkeeping company with offices in your local community, they should be able to use your financial information for increased profitability.
Your Bookkeeping Department helps countless clients grow their business by collecting data such as accounts receivable, accounts payable, cashflow and more to highlight financial oversight, opportunities for more revenue as well as decreasing cost. In fact, this virtual bookkeeping company’s services are as affordable as $115 per week and can increase profitability by 10% to 20%.
Every business has its own individual opportunities for increased income, but there are some tips that can help virtually any business. Continue reading this bookkeeping blog for quick tips on how to grow your business easily and on a tight budget.
A Good Bookkeeper Knows Marketing Doesn’t Have To Be Expensive
Marketing isn’t what it used to be. Cost has dramatically decreased and results are much more transparent. A good bookkeeper knows that to get your name out there, you don’t have to advertise in glossy magazines or produce expensive television commercials anymore. Thanks to the digitization of marketing, you can create brand awareness yourself with just a few clicks online.
You can get your name out there by engaging with potential customers through social media, forums and coupon or discount distributing platforms. Websites like Groupon, LivingSocial, BuyWithMe and Tippr allows merchants to offer their products and services at discounted rates, allowing them to try something new for the first time. It’s a great way to expose your brand for first-time users and convert them into long-term clientele.
Blogging Is A Great Way To Strengthen Relationship With Clients
Once you acquire new customers, you want to keep building and strengthening that relationship. If they used your products, visit your social media pages, chances are they’re interested in what you have to say. Become a kind of authority on what you’re selling. A good bookkeeper knows a blog can help distribute educational information, keep customers up to date with trends and news around your industry, perhaps even ask their opinions on new products you’d like to sell or even create. Invite them to comment with incentives such as discounts, the chance to win prizes, ask questions and the like. Your Bookkeeping Department reminds you that a blog is a two-way conversation.
Encouraging Reviews Does Wonders For Your Bottom Line
These days, reviews work wonders. Everyone uses them and can tell whether they’re fake or not. Don’t write your own testimonials, have your customers review your services or products. They can leave reviews on Google, Yelp, Angie’s List, Amazon, Yahoo Local Listings and so many more depending on your industry. A good bookkeeper knows that a bad review can also cost you lots of money, so make sure that you’re always offering the best product or services. And if a customer isn’t happy and gives a bad review, make sure to respond publicly and work hard on addressing the issue at hand. People in the online community will appreciate the fact that you wanted to right that wrong and give you a second chance.