A small business owner has a lot to think about but nothing is more important than increasing sales. Even with all the best customer support, products and services without sales the business will die.
Due to the high demand to increase sales many small businesses try a variety of tactics which prove not only ineffective but downright fatal to the business. If you really want to increase sales at a small business, use these three things which will lead to success.
♦ 1. Hold a contest/promotion
Nothing starts sales like a promotion or contest.
In the short term, a promotion can help bring awareness to your small business, driving up sales if you choose the right product or service to promote. Likewise, a contest for people to win items from your business creates a resistance free entry to become acquainted your business.
Make sure you capture the details of everyone that enters your promotions and contests. The details you capture during a contest can later be given to your marketing department to begin a sales campaign with people that are already aware of your business.
In the long term, when you give away items to customers and prospects it compels them to tell others of their experience which leads to new sales in the future. Holding a popular contest will stick in people’s minds.
♦ 2. Get a hold of your best customers
Every small business has a mix of bad, good and best customers. The bad customers are the ones that always eat up your time with little turn around – in essence; they’re the ones that are eating away at your profits.
While simultaneously firing your bad customers you should seek out your best. Your best customers are ones that have been loyal and continually place orders with your business. Since these customers already love your business it’s much easier to keep them around in the long term. Try contacting them, offering the same products they normally but at a special discount just for them. Chances are they’ll jump on board and buy more frequently when you can show appreciation over and over again.
♦ 3. Promote your best products
Using the 80/20 rule of business which states that 80% of your profits comes from 20% of your products, stop spending money trying to market items which aren’t selling and instead pump additional funds into those which do.
Along the same lines of dropping your worst customers, when you get rid of the underperformers you no longer have to keep them in stock, handle tech support calls and waste time which could go toward your best sellers.
Take out money you’d be spending on your underperforming products and diverge these funds to a new marketing campaign to push your best products. Start a new campaign marketing with Google Adwords, buy some radio time, create a commercial or bootstrap it by placing signs around your business.
There are a range of various techniques which your business could implement today to immediately increase sales; this article explained three of them. With the recession in full swing, your business will either thrive or survive – it’s your choice.