Thursday, August 25, 2011

7 Low Cost Tips to Increase Sales

There are only 3 ways to increase your sales:
1.     Have more customers
2.     Increase your average sale
3.     Increase the number of transactions per customer

Following are 7 strategies that you can start working on today.

1.
Test an increase in your prices – is this a possibility? Even a small increase will make a difference in your bottom line.

2.
Audit your customer touch points – Make a list of EVERY way you touch your clients. From your business cards to your email signature to your handshake to your Facebook page. Is each touch point relaying your brand promise and saying what you want it to?

3.
Networking – Make your contacts count! Develop a networking strategy. Your networking contacts or “circle of influence” aren’t just people who you may do business with, they are people you can refer to others and who can refer you. It’s about learning what others do and teaching them what you do. a. Give freely with no expectations

b. Help others
c. Build connections
d. Network with like-minded people

4.
Show your value – Your message should speak loud and clear about exactly what it is you do for your client – not what you do – what you do for them. What value do you bring to them? How do you make their life or business better? All your messages should speak about this value… your website, in person, email marketing… everything. It’s all about “What’s in for them”.

5.
Up-selling – After the first sale, what else can you offer them that will really be valuable to them? Are there packaging opportunities with your products and services? Can you develop a passive revenue stream? If you have a service, is there an opportunity to add a product and vica versa.

6.
Ideal Client Profile – I don’t care if you sell toilet paper, not EVERYONE is your client. Take the time to figure out who your IDEAL client is… everything about them. Once you have this profile, you can figure out how to reach them in a focused way… where they hang out, what they read, what organizations they belong to. I guarantee, if you do this, your ROI on your marketing $$ will be higher and your sales conversion rate will increase.

7.
Improve your Sales Skills – The #1 way to increase your sales is by improving your sales skills - you will increase your conversion rate. Your revenue will increase and each sale will cost you less.

Originally published in New Life Business Newsletter August 2011

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