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Small businesses must be extra imaginative with their marketing efforts in order to attract customers and get them to open their wallets. Even more challenging is that most entrepreneurs have shallow pockets and shoppers are being more selective as a result of the sluggish economy and volatile stock market. The following are six proven low-cost marketing ideas that help small businesses increase sales and generate referrals, ultimately helping you build your cash cow, while spending very little.
1. Set up a sales incentive program.
Give your sales staff a reason to get out there and sell, sell, sell. Why do so many businesses that rely on their sales staff to drive sales have incentive programs in place? Because offering their sales staff the trips and/or TVs for x amount of sales works. See Paul Shearstone’s Creating Sales Incentive Programs That Work for how to make your sales incentive program “sweet and simple and attainable”.
2. Encourage your sales staff to upsell.
Essentially, upselling involves adding related products and/or services to your line and making it convenient and necessary for customer to buy them. Just placing more products near your usual products isn’t going to increase your sales much. To upsell successfully, the customer has to be persuaded of the benefit. For instance, when I last had my carpets cleaned, the cleaner noticed a pet stain. Instead of just cleaning it up, he drew my attention to it, and showed me how easily and effectively the spot cleaning solution removed all trace of the stain. Did I buy the spot cleaning solution? You bet. He persuaded me that buying it was beneficial to me and made it convenient to purchase it. Result: increased sales for the carpet cleaning company.
3. Give your customers the inside scoop.
Recently I was shopping at a retail housewares store. I had picked out an item and was mulling over whether to buy it or not when a salesperson came up to me and said, “I see you’re interested in that blender. We’re having a sale next week and all our blenders will be 20 percent off. You might want to come back then.” Guess what? I did – and bought two other items as well. Lesson: if you have a promotion or sale coming up, tell your customers about it. They’ll come back – and probably bring some friends with them too. (And don't forget - you can give your customers the inside scoop by emailing or calling them, too.)
4. Tier your customers.
There should be a clear and obvious difference between regular customers and other customers – a difference that your regular customers perceive as showing that you value them. How can you expect customer loyalty if all customers are treated as “someone off the street”? There are all kinds of ways that you can show your regular customers that you value them, from small things such as greeting them by name through larger benefits such as giving regulars extended credit or discounts.
5. Set up a customer rewards program.
We’re all familiar with the customer rewards programs that so many large businesses have in place. But there’s no reason that a small business can’t have a customer rewards program, too. It can be as simple as a discount on a customer’s birthday or as complex as a points system that earns various rewards such as discounts on merchandise. Done right, rewards programs can really help build customer loyalty and increase sales.
6. Distribute free samples to customers.
Why do so many businesses include free samples of other products when you buy something from them? Because it can increase sales in so many ways. As the customer who bought the original product, I might try and like the sample of the new product and buy some of it, too. Or I might pass on the sample to someone else, who might try the product, like it, and buy that and other products from the company. At the very least, the original customer will be thinking warm thoughts about your company, and hopefully telling other people about your products.
Remember, the more comfortable we keep our customers, the longer they’ll stay, the more memorable experience they’ll have and the more they’ll spend, or pass on positive word-of-mouth. When you’re planning your next marketing activity, remember to stimulate your customers’ senses, including eyes, ears, nose and mouth.
Global B2B buy sell website: http://www.bytrade.com
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