Sales is directly related to a company’s revenue, so how to increase sales is a question that every entrepreneur keeps asking themselves. And if you are, you need to read this article for the best methods to increase your sales.
Generally, there are 3 main ways to increase sales: increase customers, increase frequency of purchase, increase sale size. In each way, there are many methods to achieve it and we will go into that.
1. Increase sales by increasing your customers
Improve marketing activities
Marketing is an absolute way that helps get your product to more potential customers to boost your sales.
Be present on various social media platforms, where your target customers will be, and show them how your product can help them. This requires understanding your target audience to know their pain points, issues, desires, and the best ways to approach them.
When it comes to your marketing strategies, be consistent but also don’t be afraid to change. If you are consistent with your branding, tone, message, story, your audience can recognize and give attention to you better. But, if you track the outcome of your current marketing or advertising strategies and not seeing the desired results, just be prepared to change them.
Besides, use marketing to increase your presence and relevance in your target community. Activities such as sponsoring community events, speaking at engagements, or supporting a local sports team can raise awareness of your business and stimulate sales. (Info Entrepreneurs – infoentrepreneurs.org)
Expand to new markets
We know that expanding into new markets can be costly, but just think about it as an investment because it can increase your client base and your sales afterwards. Of course, you need to conduct market research to help you understand potential new markets and devise an appropriate strategy. You will also need to consider different factors, such as your budget, distribution, and resources to meet the new demand.
Enhance sales channel
Evaluating, optimizing, and adding your sales channels could help you reach more clients, increase your market control and your sales. For example, you could:
- Provide your sales staff with intensive training
- Contract independent sales representatives or hire your own
- Add retail outlets
- Use resellers
- Implement an online sales channel
2. Increase sales by increasing the frequency of purchase
Introduce new products or services
Providing a broader range of products or services that fit different requirements of your customers at different times could be a good way to make them buy more from you.
To know about such requirements, you’ll definitely need to research your market to see what they need and want, to make sure there is a demand for your proposed offering.
Also, you could consider using some of your existing clients as a test group. Getting feedback from a small test group first will help you manage the risks and learn how your new product can be improved before launching it to the public and risking a bigger loss if failed.
When you’ve decided to launch a new product, make sure you have a good marketing plan ready to promote it to the right audience.
Good post-purchase customer service
Some businesses tend to focus on acquiring customers and regard sales as an endpoint while not paying enough attention to the customer after they have purchased. This is a misperception because making a current customer repurchase is usually less costly than getting a new customer to purchase from you for the first time, so it’s an awesome way to increase your sales as well.
What’s more, positive word of mouth from a happy customer is a powerful sales channel that can lead to a domino effect of more sales than you can expect. Therefore, don’t neglect the importance of good post-purchase customer service to your sales.
A good business should have customer service specialists follow up with customers and maintain a proper relationship with those who have paid for your business. Sure, your product also needs to be good enough to make them come back. Just put enough efforts into getting returning customers and you will have a stable way to increase your sales.
Upsell an additional service
It is obvious that if you can find a way to upsell an additional service to your customers, it will generate more sales from what you’ve already had. For example, if you are an infopreneur selling your online course, you can offer VIP or Gold packages with added benefits, like implementation training or 1-on-1 sessions, from the regular package.
3. Increase sales by increasing your sale size
Sell high-ticket products
Being able to sell one high-ticket product can be equivalent to selling multiple low-ticket products. But how to sell such an expensive thing is what businesses struggle with. It all comes down to the value your product can give the customer.
If you want to convince someone to buy a high-ticket package, you need to make them believe that it brings adequate high-value benefits which are worth or even exceed the amount of money they pay for. So, you must deliver real value to your customers. Besides, credibility is another key factor to succeed with high-ticket products. This is where your testimonials can come in handy.
Again, this also requires your understanding of your customers. Knowing their problem is the condition to know how your product can solve it. If you are willing to care and think deeply about how to help them, they’ll also be willing to pay a higher price for your product.
Additionally, it requires your understanding of your own business and your competitors. You need to know your strengths and highlight them to clients. An articulated list of reasons in your pocket that clearly explains what makes you better than your competitors can be very helpful.
Also, it would be amazing if you can have a unique proposition that is in demand. If you offer a product that you think is perfect but there are lots of other companies doing the same at the same quality, it’s not that easy to convince clients to choose you. However, when you give unique and innovative products with maximized quality that can outdo similar products on the market, you will win your customers’ loyalty.
Watch this video to see why selling high ticket can be easier than low ticket offers
Watch this video to see how to sell your high ticket offer using mini-webinars
Go for your most potential customers
The “Dream 100 Strategy” by Chet Holmes indicates that: “Compared to all potential buyers, there is always a much smaller number of ideal buyers. So ideal buyers are cheaper to market to and yet bring much greater rewards.” It’s the 80/20 rule in action: “80% of your results come from only 20% of your clients.”
So, it means that you need to filter out a list of your Dream 100 clients – the most ideal buyers for your product. Then, according to Chet Holmes, you need to make them go from “I’ve never heard of this company” to “What is this company I keep hearing about?” to “I think I’ve heard of that company” to “Yes, I’ve heard of that company” to “Yes, I do business with that company.”
In order to do that, you need to come up with a long-term strategy including how to pre-heat your Dream 100, how to engage with them through your marketing, warm them up, have personal follow-ups with them, give them something that can build up their trust for you day by day, month by month, and so on.
Once they have decided to have business with you, you will most likely achieve a big sale size that pays off all your efforts and patience.
Conclusion
To increase your sales, you can find ways to increase your customers, frequency of purchase, or your sale size. Whichever way you use, remember to ensure your product’s quality because it is the core value that sells itself. A good quality product added with the methods mentioned above, you will definitely get more sales for a more successful business.
If you want hand-on guidance to increase your sales, you can book a strategy call with an AweSM coach for more details. Simply click this link and answer a short questionnaire, then choose your preferred date and time for the call: https://callwith.awesm.com/social
