Every business sometimes needs a quick influx of cash. Whether you’ve come across an expected bill or you just want to reinvest and up
Top tips to increase sales!
Whatever your reasons for facing cash flow issues, here are a few simple strategies you can implement right now to fill in the gaps, make sure you’re covered and boost your sales right now!
Ask Your Customers for Referrals
If a customer is satisfied with your products or services, they’ll be happy to spread the word amongst their friends right? But they sometimes need a push to do so.
There is no getting away from the fact testimonials and referrals is a
Some people will naturally sing your praises without even asking them to but to get more why not look at sweetening the deal by offering an incentive? If you feel uneasy asking people for a favour like this, keep in mind that your purpose is to offer your unique value to the people who need it.
Offer a Loss Leader at a Low Price
Another way to attract new business is to offer a ‘loss leader.’ We aren’t a big corporation though, we aren’t
You can use a loss leader to introduce other products through upsells and cross-sells as well if there is something that you think of to link them with. It also offers an opportunity to entice people to sign up for your email list or join your social media groups too!
Have a Flash Sale
A flash sale is a great way to inject a quick boost of cash into your business. Offer a deep discount on a high-value item for a limited time only. But remember a flash sales typically last only 24 hours or a set amount of time and SHOULD NOT be extended under any circumstances!
But ensure you choose a good product your audience will love and announce the sale well ahead of time. Make sure the terms are clear and stick strictly to them. If you have people wanting to buy after the sale is over, start planning your next one DO NOT be tempted to keep the price low or offer the discount to anyone who wants to buy AFTER the offer expires.
Reconnect with Past Customers
It’s much easier and cheaper to sell to past customers than to bring in new ones. You probably have some customers who haven’t bought anything in a while meaning now is as good time as any to rekindle the relationship and offer them a good deal.
Think about creating an offer that’s highly valuable to your customers or maybe create an occasion for the sale or offer it as a “thank you,” an exclusive deal to reward their loyalty.
Offer a Taster
A great way to attract new customers or get your existing customers to buy more is to offer them a taste of the value you have to offer. Give people a free trial, webinar, an open day or some other offer where they get to see your products or services in action.
If you want to offer something limited, choose a select group of your most engaged buyers since these are the ones most likely to purchase.
Add any of these techniques to your sales plan and you can employ them whenever you need a quick burst of cash or want to boost sales. If you understand the times in the sales cycle when your sales lag such as summer when everyone is on their summer holidays or the build up to Christmas perhaps when they have other things on their mind; you can prepare well ahead of time to mitigate the costs.
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