There has been a tremendous increase in competition in the blink of an eye. New companies are emerging and selling products or services similar to yours. With every passing day, the competition is becoming fierce and it’s becoming more difficult to increase sales. It’s been rightly-stated by Kevin Davis that the biggest mistake made by salespeople is trying to close a sale too fast. Instead of focusing on the customer, they focus on the sale and eventually end up losing the sale as well as the customer. Moreover, sometimes increasing sales can seem to be more difficult than expected because not all companies can afford to spend heavily on marketing and advertising. As a result, to achieve economies of scale it is important to increase sales without increasing expenditures.
This article outlines 5 basic tips that will help you boost sales without increasing expenses or paying a single penny from your pocket:
1. Share your business cards
Business cards have been used for over 30 years and are still being used as a crucial element in building the image of the company. They also play a vital role in increasing the sales of the company as they carry all of the pertinent information about the business. Moreover, they are very convenient as they don’t have any outages or downtimes. As a result, they can be accessed anytime and any place. As per the survey, it was found that for every 2,000 business cards distributed, the sales of a company can increase by 2.5%. So, if you are interested in boosting your company’s sales, you should not miss a single opportunity to share your business card. Always carry them with you and if given the chance, share during mass gatherings and social parties as the additional exposure can always help.
2. Indulge in social media marketing
In today’s society, social media is considered to be the most effective and inexpensive platform for advertising products and services. There has been a tremendous increase in the number of people using social media. Social media platforms like Facebook, Twitter, Instagram and Pinterest are gaining in popularity every day and firms can get huge exposure by remaining active on various social media platforms. InternetLiveStats.com shares that on every second 6,000 tweets are tweeted on Twitter. Looking solely at the numbers, the argument can be made that social media has immense potential to promote and sell a product or service. By remaining active on social media, companies can easily reach their target market to increase their sales. According to research, it can be projected that the number of social media users are expected to increase to 2.5 billion by 2018. Therefore, by implementing the correct strategies and utilizing the assistance of social media, companies can reach a wider audience and easily achieve a boost in sales.
3. Strive to create a good customer experience
The customer will buy your product only if they will be happy and satisfied by your services. Hence, the selling strategy should be customer-centric and should highlight the needs of the customer and not the features of the product. This means that companies should identify the benefits that the customers can receive by using their product and services. As per Kolsky’s research, it was found that 67% of customers cite negative experiences as the reason for not returning to a particular business. You should strive hard to create a positive shopping experience for the customer because if they are not be satisfied, they will never return. You can also adopt great customer experience by extensive email marketing, live chat and social media. We at Tagove, learned that customers can reach though anyways. Therefore, we have to ready to provide multi-channels support to make the customer happy and loyal.
4. Focus on upselling
It is difficult to acquire new customers and compel them to make purchases, but it is comparatively easier to convince the purchasing customer to make additional purchases. If a customer is making a purchase, then it means that you have gained the trust of the customer and if you recommend a particular product that they might need, then there is a good chance that they will purchase that product. The probability of selling to the new prospect is 5-20% whereas the probability of selling to the new customer is 60-70%. Many firms have been able to acquire more sales by upselling their products. For example, at McDonald’s you will hear the question, “Would you like fries with that?” Asking the right question at the right time can increase your sales. However, it is important to offer products that the customer might want to buy rather than simply offering random products.
5. Share customer reviews
The best way to convince a customer to make a purchase is by providing them with the reviews of other customers. Customer reviews are a highly-potent tool as they can have a tremendous impact on the buyer. It has been found that about 61% of customers read online reviews before making purchases. Getting the recommendations from other customers who have already used the product/service sounds more trustworthy and compelling and as a result, those positive reviews can increase sales. According to the Reevoo stats, it has been found that 50 or more reviews per product can increase conversion rates by 4.6%. Those stats also state that reviews produce an average of 18% uplift in sales. Therefore, companies should encourage its customers to share their reviews on websites and social media platforms so as to attract more eyeballs.
In a market cluttered with competitors, it has become very difficult to survive and thrive. The key to survival is to increase sales without increasing costs. By implementing the above-mentioned tips, you can boost sales without spending a penny from your pocket.