How to Create Vouchers Book in Microsoft Word?
Despite the outgrowth of the digital and electronic industry, printed-books are still purchased higher in rate than ebooks today, ranging 43.2 percent (print formats) and 27 percent (ebooks). Books are still popular among U.S. purchasers with a rate of 74 percent of adults consumers. Therefore, the book industry in the U.S. established a reliable global market in the business world.
If you are in the book and publishing business, running a book fair is a good promotion idea that you should try. Before you do so, you have to invite interested purchasers first and in that, you can make use of book vouchers. You can create your own vouchers simply but not limited to any versions of Microsoft Word or if you like to have it instantly, voucher templates above are a click away from your belonging.
Voucher layout and design matters, but what attracts customers is your offer. Yes, discounts can help you reach the sales target but before you set your rate, make sure that you're still making a profit. Not just discounts, special offers and pricing deals will make sense, too. In that, we presented some tips for you to ponder before you set your discounts to avoid compromising your profit.
1. Review your Profit Margin
When you review your profitability or your profit margin, you have to consider two margins – gross margin and net margin.
Your gross margin is the money left after subtracting the value of the products sold from the net sales. Net sales are the total amount of sales for a given period. Discounts given to customers and commissions paid to the sales representative are already subtracted in here.
Net margin, on the other hand, is the profit prior to tax payments rated for your business. Before you create the discount voucher, be sure that you've reviewed your profitability.
2. Check on your Competitor's Pricing and Offers
For you to come up with a competitive discount, check on your opponent's pricing and discount offers. In here, you will not just let your customers be happy on your offers, you will also be aware of what's happening in your environment. The more you know, the better your offers could be.
3. Calculate the Best Discount Price
Poor planning in setting your discounts for your products will result to profit loss. You have to make sure that you calculate your discount rate not compromising your profit.
4. Decide the Time-Frame of your Offer
Any voucher, may it be a coupon or a gift card/certificate, must have its expiration date. You need to apply this to your vouchers so that your customers will be informed that the offer is of limited time. You have to set urgency, the more they are pressured, the eager they are to purchase your goods.
5. Evaluate your Accounts Regularly
Review your accounts for you to know if this helped you out or negatively affected your profit. In this case, you will be more aware of the status and the flow of your business. Furthermore, you can also evaluate the effectiveness of your vouchers.