A flagging economy typically means diminished sales for most companies but these six simple yet highly effective methods can boost your sales no matter what the economic climate.
Encourage Staff to Upsell – Upselling essentially involves making additional or relevant products or services convenient or necessary for existing customers to purchase. It’s an easy way to boost sales by leveraging your existing customer base. Train staff on how to introduce and demonstrate the benefits of products relevant to those customers are already purchasing.
Advertise More – A harsh economic climate may seem like the right time to cut advertising dollars but quite the contrary; now is the time to increase your marketing when your competitors are cutting theirs. You may also find rates on advertising avenues that have been historically out of your price range (such as television advertising during prime time) are well within reach.
Offer a Customer Rewards Program – Most of us are familiar with the customer loyalty reward programs offered through many mass retailers but a small business can implement and execute one just as effectively. It can be something as simple as offering a special discount on customers’ birthdays or a more complex system that lets customers earn points towards free or discounted merchandise. When done right, a customer rewards program can foster loyalty and boost sales.
Go International – If it makes sense, you may find taking your business (or at least website) international can boost sales as well. Offer international shipping and make sure you offer a wide range of international payment methods as well.
Hired Skilled Salespeople – An area most business owners should consider heavily investing in is a skilled sales force. These are the employees that will be directly dealing with prospective customers and making sales. Spending a little more up front to employ them can pay off handsomely in the long run.
Fire Draining Customers – Take a close look at all your accounts and customers. You may find certain customers drain your resources and time while yielding little to no profit. Instead of focusing on these clients, train your focus on those that are profitable and boost your business.