Regardless of your size or market penetration, you will always be looking to increase your sales and grow your company even more. That being the case, the most delicate characteristic of this endeavour is the process of increasing your sales on a small or slender budget. Getting the right ‘bang for your buck’ is a challenge every company faces and increasing sales whilst getting value for money on a slender budget is a big undertaking. However, Prestige Business Management would like to highlight some real-world ‘hacks’ to help you break through and gain more sales, on a micro budget!
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- Your current paying customers – They have needs!
- Your clients trust you. You trade together and have built up a solid rapport. This means that the process of selling is much easier and you can ‘upsell’ to your current clients with ease as compared to new cold-calling clients. You can also use this knowledge to help create support services – add-on services – that can help your clients whilst helping you to increase your sales.
- Your current paying customers – They have needs!
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- Start bundling your services or products
- SMEs have always found success and increased sales through the process of bundling products and services. The psychology is simple; the client will see a bundle and will understand the savings implicit therein. This means that a flexible bundle can help alleviate clients’ problems whilst helping you to generate a new revenues stream and improve your sales.
- Start bundling your services or products
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- Become a Referral monster
- There is no harm in asking, as the old proverb goes. Your current clients can provide you with referrals. Their networks can help you generate more sales. Why not offer referral discounts or ask clients if they could give you the names of companies they work with? You could also ask for testimonials and place them on your website or in email newsletters.
- Become a Referral monster
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- Use limited period/time period promotions or flash sales
- Discounting your products or services can lead to increased sales. This works through volume, the cheaper you are, the more you’ll sell. It may seem almost antithetical but a discount can make your services more attractive to a would-be client and thus volume could increase your sales. Always be clear and tell clients about time-limited promotions and end dates.
- Use limited period/time period promotions or flash sales
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- Listen to your customers – they might tell you about a new add on service?
- Listen to your clients and they’ll communicate with you their needs – by talking about their problems. Ask if they have any issues – not with your services, but in general. Maybe their problem could be a new line for your services and thus help you increase your sales. Remember, talk to your clients and ask open-ended questions and learn to develop brainstorming techniques with your clients.
- Listen to your customers – they might tell you about a new add on service?
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- Utilise the power of social media
- Social selling is the new ‘buzz’ word. You might have a handful of Twitter followers or an under-used Facebook page. However, why not use these resources as a new sales channel and help spark a wider interest in your services and products? Use it to promote blog articles on your services and thus build engagement which will lead to sales based on personal connectivity and engagement.
- Utilise the power of social media
- Do a Mercedes-Benz and raise your prices!
- When Toyota launched Lexus, many auto commentators thought this would impact on the big German carmakers– more specifically Mercedes-Benz. However, in a gutsy move, the German giant increased their prices by 25% in response to Lexus initial model price offering. This was backed by an advertising campaign highlighting the price increase and German craftsmanship. Twelve months later, Lexus was behind the curve and Mercedes-Benz outsold BMW and Volkswagen. You might not be a big giant company, but you too can use this means to help improve your sales.
No matter your size, if you are a small business owner, why not get in touch with Prestige Business Management and talk to our accountancy and payroll specialists today to discuss our sales advice and consultancy services that can help your business succeed?
