There are a number of techniques that you and your sales team can employ to increase your sales simply and effectively with very little effort but with great reward.
Here are five of the techniques I utilise as a business coach to increase sales and grow your business as well as your bottom line.
Upsell – Upselling is really quite simple. The goal in your business is to show your customers products and services you offer that may actually meet their needs better or increase the value of what they are already prepared to purchase. It shows your customer that you are understand their needs and you want them to be completely satisfied with their purchase.
Buy It Now – Some customers are merely browsing products or comparing prices for services. So how do you get them to purchase what they are looking for right now? This process begins with listening to your customer and asking all the right questions. What do they need? Are they using a product or service right now to meet that need? Once you know the details, you can guide your customer to a purchase decision.
Reviews and Referrals – At the end of a successful transaction, ask your customers for a review and make it easy for them to review your business. Generating good reviews in this way requires that your business strives to always deliver excellent customer service. If your customers are happy and their needs are being met or exceeded, they will gladly provide you with positive reviews and needed referrals.
Cross-Sell – Fast food giants were the masters of the cross-sell before a public backlash, brought about because this method was just too effective, pretty much put an end to it. Their staff were trained to do it automatically without completely irritating the customer. You order a burger and drink, and they ask “Do you want fries with that?” In order to cross-sell your company’s products or services effectively, you must have complementary products and services in place to offer your customers. They should enhance the product or service being purchased, require little explanation and allow a quick customer decision. For example, if you sell mobile phones; cases, car chargers, or an extra battery would be great cross-sell options.
Package Deals – This one is easily implemented in your business. Offer multiple products or services packaged at special discount pricing that are relevant to your customers. Often these bundles will be items or services they were considering anyway and by pre-packaging them at a savings, you just made the decision to purchase that much easier for your customer. Now, as a business coach, I am not a fan of discounting. But this is very different. The main product is sold at full price so the margin is maintained. It’s even more effective when slow moving inventory is used in the bundle.
The key to these five techniques that increase your sales is your connection with your customer. Always listen and work at understanding and delivering their needs and wants through exceptional service, along with product and service education; and watch your sales explode.
Mike Reddy is a Chartered Accountant, business coach and advisor helping businesses in Sydney, Melbourne, Brisbane and Gold Coast to easily increase their profits and cash flow. He is currently President of the North Sydney Chamber of Commerce, a Regional Councillor for Sydney North East and a member of the Institute of Chartered Accountants Sydney leadership team. As well as advising businesses, Mike presents business development seminars and webinars and is regularly contacted by the media to comment on small business matters. You can connect with him on Facebook, Twitter and Google+.