How To Increase Sales?
• Provide team training. This is a management task, but one that can really improve your company’s overall performance. Does the team know they are even a team? Are they aware of company sales goals or objectives? Are they even aware of the types of products you sell or services you offer? Do they know what your highest margin product or service is? Do you?
The point is, you can’t create leverage or any kind of synergy unless your team knows where they are and where they need to go. Either you need to provide direction – or they will provide direction for you. Start now to develop true team direction and leadership in your organization. It will pay off in a major way sooner than you may expect.
• Stop discounting. This is another strategy that has a profound impact on profit. When you stop discounting, you literally stop giving money away. Think of it this way: if you constantly discount, why even bother having a retail price? Not only does discounting cost you money, it gives your customers the general impression your “normal” prices are a rip-off. The flip-side of this, especially if you are in a “discounting” oriented business, is to add-on value instead. In some instances, you may be able to raise your price, add value for very little cost out-of-pocket and enormously leverage profits. In the end, it’s all about perceived value for your customer.
• Down-sell. Finally, you may have heard of up-selling and cross-selling, but down-selling might be a new one for you. What exactly does this mean? Basically, no customer leaves your premises without buying something. If you know a customer can’t afford a higher priced item, show that item to the customer first, then offer the lower priced item as an alternative.
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