The most important part of having a business is selling the product. The purpose of creating value as an entrepreneur is to have it reach the end user. This cannot be done without making a sale. If you want to improve sales, it is a lot better if you shift your focus from attracting new customers to convince your old customers to keep buying. The reason is because the best sales prospect is a prospect that is already converted. In other words, the people who are more likely to buy your product are people who have bought it before.
Attracting new customers is a great way to improve sales but focusing on people who buy your product already. Here are some other ideas that can help you improve sales in no time:
Set up a Sales Incentive Program
This will give your staff a better reason to go out there and sell your product for you that is a lot better than a meagre salary or commission at the end of the month. By offering perks like trips, TVs, and other juicy stuff.
Give Your Customers the Inside Scoop
With the successful sales strategies make your customers know beforehand about an upcoming promotion or sale. This way they are prepared and are more likely to spend a lot of money buying your product. Also, they are likely to bring friends with them which will even increase your sales further.
Create a Customer Rewards Program
This way, you build brand loyalty. It does not have to be something totally elaborate. Big Companies can afford reward great customers with cruises and trips all over the world. If you can’t afford something that elaborate as a small business, you can do something as small and simple as a discount on a customer’s birthday. If you are able to do this right, a rewards program will build customer loyalty which in turn will increase sales.
Distribute Free Samples
Giving free samples can help increase your sales in so many ways. If a customer likes a sample, the possibility that he will buy it is high. The possibility that he will tell his friends about it is also very high. This way, you get to advertise your product through word of mouth.
Use Social Media
Digital and social media is an excellent place for you to advertise your product. Since everybody has a smartphone, the human presence on social media is undeniably huge. Your potential customers are tweeting and retweeting random posts half of the time. So why don’t you leverage on that by advertising your product on social media? It has been used by businessmen and women all over the world to drive sales up to the roof.
Do not underestimate the power of the Print Media
People believe that with the rise of social media as a viable advertisement, the use of paper for advertisement is outdated and ineffective. One thing the entrepreneur fails to understand is that both means of marketing are complementary. Here is why; the goal of the entrepreneur is to maximize the consumer’s experience. Social media only does that virtually. With the use of print advertising methods like business cards, posting of ads in a newspaper, fabric banner, billboards and so on, you can maximize sales in your business.
Driving sales can be a tough task for entrepreneurs, especially in a saturated market where the competition is at an all-time high. While following these tips will give you an advantage over your competitors, making your product stand out is what will give you an edge. Nothing sells a product better than its ability to add value and that should be your premium advertisement tool.