Sales Strategies That Won’t Break the Bank
No business can operate without a sales strategy. Whether you’re providing products, services or a blend of the two, you need to sell. While large businesses can afford to reduce the time and effort they spend on their selling strategy, as a small business owner you need to invest time into selling your products and services successfully. Here are some affordable ways to improve your profits today.
Start With Trials
Most customers are hesitant to buy something that they’re unfamiliar with. This is particularly true if you’re selling an expensive item or a long-term service contract. Find ways to give your potential customers a free trial of your service or sample of your product. This will not only help you bring in more customers, but it also pairs well with the next strategy.
Up-Sell Your Products and Services
There are two basic ways to up-sell your products or services: offer complimentary items or offer bulk sizes. They both use the same strategy. Once you’ve made a sale, you want to make the most of it. For many customers, it’s easier to turn a small sale into a large one than it is to encourage them to make a purchase in the first place.
Create discounted packages or simply suggest additional content, services or products as your customer is checking out. If you have two items that work together, check to see if your customer needs both or is happy with just one.
The other way to up-sell is to offer a larger size. For example, customers who purchase a six-pack of soda will often prefer to purchase a 24-pack at a discounted price. Offering multiple sizes or contract lengths encourages loyal customers to increase their purchase.
Implement Strategies After the Sale
Finally, don’t stop selling once the sale is made. Many companies completely ignore their satisfied customers and work hard to bring in brand new ones. Very few products or services only require one purchase in a lifetime, so spend some time connecting with your customers and encouraging future sales. Whether you offer discounts or simply check back in to express your eagerness to see them again, after-sale strategies can be far more cost-effective than cold-calling new customers.
These sales strategies may take some time, but they’re very affordable ways to improve your profits. You don’t always have to invest serious financing into strategies to make a sale. Instead, use a combination of these strategies to grow your business and sell your products and services successfully.