Which of these will have the biggest impact on your bottom line?
- Increasing the size of your average sale
- Increasing the average number of purchases per customer
- Reducing your marketing costs
- Increasing your retention rate
- Decreasing your product costs
Here’s a quick and easy way to answer that question. Harvard Business School has a handy online calculator that lets you see the effect of changing any one of these variable. Have a look – you may find some of the answers surprising!