No matter what type of business you run, there are simple strategies that can increase your sales. You must take action on the following methods for them to work. Sounds easy enough but you would be surprised how many other business owners complain about their slowing sales but do nothing to reverse the trend.
Let’s discuss the 3 proven strategies you can implement immediately:
- Increase your average sale: In two words: Up Selling. Just $20 a day over your average each day adds $7,300 a year to gross. If you are already operating above your fixed costs, a high percentage of this will be pure profit. When a customer is already in the buying mindset it is harder for them to resist small add-ons that add up over the course of a business day. You do not need to be sleazy or aggressive with the customer when doing this. Use simple buying words that will have the customer believe you have their best interest in mind
The critical steps to up selling are all in the language used with the customer. Question phrases such as the words, “Do you” allow the customer to ask themselves the same question and they will be able to process in the brain the transaction we all use- Price vs. Benefit. Posing an up sell this way will lead to a “No.”
Switch the script to get to the “Yes” and the up sell. If I owned a pizza place I would ask “extra cheese on that?” or “that’s a large, right?” The buyer in this situation processes the request as a “yes” almost subconsciously and does not engage in the same price vs. benefit transaction in the brain. When these steps have been implemented you should realize a 45% success rate. Do the math with a one dollar up charge x 45% of your daily customer traffic. Not bad, right?
- Increase Customer Frequency: Your average customer may come to your business once a month. If you are able to increase the frequency by 20%, meaning 1 in 5 visits twice a month, it will impact your sales greatly. This is not hard to do considering we are targeting your marketing efforts here on your existing customer base, people who already like your business and have spent money with you in the past.
Email or mobile marketing in which you are creating a list of your customers. These people have already spent money with you and are likely to respond to an offer that brings them back to your business an extra time a month for a special offer.
- Increase your customer base: This is an almost free method that will drive new traffic into your business this week. Grab a stack of flyers or brochures tomorrow afternoon when you have a free hour. Walk around your business radius and visit other businesses in the area. Introduce yourself and simply drop off a brochure. No pressure, no selling, most will appreciate the chance to meet another business owner. This will put a human face on your business and will lead to people returning the favor for a visit.
Sounds easy right? It is, but the sad truth is most business owners will do one, maybe two methods for a short period of time. They will notice an increase in sales and then slip back into old habits. Be happy about this and hope that is your competition. Be the 5% that implements all 3 methods and runs with them. You’ll give your competition a headache as they try to figure out where their sales are going.