|
1)
Add More Value To What You Sell
Have
you ever heard a customer ask you, "Is
that all I get for this price?" Chances
are you have. It could mean that you are not
offering enough value for what you are charging,
or it could be a misinformed client. In either
case, you won't get repeat business if you
customer feels like they over-paid for your
products or services. What can you do to add
value to your products or services?
Try
adding value by including items that cost
you very little or even nothing at all. An
example of this might be recipes, preparation
ideas, or nutritional information. Have you
ever tried carrying customer purchases from
the checkout to their car? By adding this
small, low cost item, you will make the decision
to buy that much easier for your customers.
This works in all types of product and service
transactions. Think of creative ways in which
you can add value to your base product or
service offerings. A small addition can easily
make a major difference to your profits!
|
 |
2)
Offer Items Of Complimentary Importance With Each
Purchase
This is one of the most profitable things you
can do to increase your average unit of purchase.
You accomplish two things by offering complimentary
products or services. First, you add value to your
products or services by offering items that you
know your customers will need to buy at some point
in the future anyway, and you are saving them the
trouble of having to patronize another business
for these items. They will actually appreciate you
more if you have these items available to them at
the time of purchase!
If you
sell items that can be prepared on the grill, also
offer charcoal, propane, b-b-q sauce, ice, and other
useful accessories to your customers at the time
of purchase. Use your imagination and get access
to complimentary products that enhance your client's
purchase.
3)
Sell Upgrades
Upgrades differ from complimentary products
in that they are generally a better version of the
same product, as opposed to a complimentary, or
"add-on" product. In the computer industry,
as in many others, this is done all the time. There
is no reason that you could not apply those same
tactics to your own business with a little creativity.
You've been sold upgrades when you bought your new
car, your color television, or just about any other
product you can think of!
It works
like this, you explain the advantages of the first
product to your customer, then you "do them
a favor" by offering them a peek at the next
level up. In many cases, you'll find that your customer
will opt to pay a "few extra cents" to
get a few more benefits or an altogether better
product. All you have to do is think about your
business and what you can offer as the next best
thing, for a few more dollars!
4)
Offer Warranties
Stand behind your products! Use the three R's
method. Repair, replace, or refund. By offering
that sort of warranty, you'll also increase your
sales by making your customers feel more secure
in purchasing from you.
5)
Use Risk Reversal
Here's a really powerful way to increase your
sales, but you have to think this one out carefully
or you might lose your shirt! The idea is to offer
your products or services as risk free as possible
to your customers. The rule of thumb is to keep
the risk to your customer as low as possible. You'll
see immediate benefits in increased sales. Returns
on quality products have proven not to increase
proportionately with sales, so don't worry about
being overwhelmed by returns, it won't happen!
6)
Create Special Offers To Past Customers
The most profitable market you can sell to are
your past customers. They have already participated
in business transactions with you and have developed
trust in your operation and in your products. Why
not take full advantage of this fact by developing
specials for "preferred customers?" Credit
card companies do this all the time-just watch your
mail this week!
If you
negotiate a special deal for some product, or are
planning on carrying an entirely new product line,
why not let your preferred customers know about
it BEFORE the rest of the world? Go a step further
and offer them special pricing on those products
or services if they act before a specified date.
You'll be amazed at what happens. Your customers
will feel special and many will take you up on your
special offer! That's a great way to improve your
bottom line and customer loyalty!
7)
Use Cross-Overs With Other Companies
Maybe
you don't pay enough attention to this powerful
marketing technique. It is so simple, many companies
just don't put any faith into its true power. The
idea is to work with other companies to offer each
other's products and services to each other's customers.
It's reciprocal and it is profitable for BOTH companies.
Here's
how it works. As a retailer, you could offer all
patrons of a local restaurant a voucher for 10%
off their next purchase at your store. In return,
you might offer your customers a voucher for one
free drink, or half off the regular cost of a dinner
at the restaurant you are reciprocating with. Both
companies win, and there is little or no money involved!
Absolutely perfect!
8)
Get As Much Free Publicity As Possible As Often
As Possible
When was the last time you sent out a press
release? Don't remember, huh? I thought so. Well,
you're missing out on one the best advertising opportunities
you never bought! It's certainly true that you never
need spend a penny to get publicity in local, regional,
or even national publications! All it requires is
that you craft a press release and mail it to publications
you feel might be interested in publishing your
information. Sounds easy enough, so why aren't you
doing it?
What
type of information is newsworthy? Just about anything
that is new, exciting, or different about your business.
A press release sent out by one farm market described
their involvement with a local food bank. It might
explain where the company was, what they were doing,
and what had changed in order to gain the success
they are enjoying today. When that type of article
is published, you can imagine how much the telephone
rings from potential customers wanting to support
this market. Imagine what it will do for your business
as well!
9)
Remember Your Customers At Holiday Time
Why not tell your customers how much you appreciate
their business all year long with a thoughtful (as
opposed to generic) holiday greeting card? You might
even include a voucher for a special item(s) you
have on sale or just a simple "10% off you
next purchase" coupon. What a great way to
keep selling through the lean months of January
and February! Not only that, but you'll reinforce
that fact that your customer is important to you,
and you appreciate their continued patronage. It's
a very powerful tool that just is not used nearly
enough! Use it!
10)
Simplify The Sales Process
Do you offer your customers various payment
options? I'm not just talking about accepting popular
credit cards. If you have the capability to offer
your own credit plan, you might consider that too.
Are you involved with the FMCP vouchers for WIC
families? The idea is to offer as many payment options
as possible so that you totally remove payment as
a barrier to making a purchase with you.
Conclusion
You now have the sparks that will ignite your
creative juices, and help you sell more of your
products or services. Try the items that are easiest
for you to implement immediately, and if they work
for you, then try to adapt some of the others to
your business and watch your sales continue to rise!
If you can't seem to be able to use any of these
items, then call me, and I'll work with you to get
you on the right track to growing your business!!
Return
to the top.
|