How to Increase Sales for a Small Business
As a small business, you may be looking for ways to increase sales. You want to continue expanding your company but are unsure what steps to follow to get your business where you want it to be.
Here we will provide several ways on how to increase your sales for current and prospective customers.
How to increase sales with current customers
Current customers have already purchased your product or used your services. They were interested enough in your small business to support it. Although you already made the sale with these customers, you must continue working towards your retention strategy to keep consumers engaged with your brand. Existing customers can also be instrumental in finding out key information about the user experience and how to improve it.
Here are some of the best ways to increase sales with current customers that you can implement right now:
1. Customer Evaluation
The easiest way to know your customer base is simply to listen. Take advantage of your existing social media platforms, seek out online forums, and research what your target market is saying. How did they react to your brand? Did they enjoy the product/service? Do they feel inclined to purchase again? Would they recommend it to a friend? If you want to increase sales, listening to your existing customer base can be very beneficial and let you know what you’re doing right or wrong.
A current customer can provide your business with enough information to make the right changes. This is a customer that has gone through the consumer decision-making process of:
Problem recognition
Information search
Evaluation for alternatives
Purchase decision
Purchase
Post-purchase evaluation
Although it may be hard to believe, all of your current customers have gone through this process and ended up buying your product or service. They have recognized a problem or a need, acted on it, looked for information and evaluated the alternatives. Eventually, they concluded with deciding on your product. Even though post-purchase evaluation is the last step, it’s the most important one. The consumer assesses whether they are satisfied or dissatisfied with a purchase and if they will buy again.
Making sales is not only about attracting consumers but retaining their business to make repeat purchases. A company can use several tactics to make a sale, but the actual test is when the consumer receives the goods or service. Is it something they would continuously be interested in? Or is it a purchase they regret making and will move onto the next item? For this reason, paying attention to your existing customer’s behaviour and how they went through their decision-making process will help you recognize potential faults in your business and what is succeeding.
2. Know customers motivation
Motivation is a critical factor for a customer when making a purchase. If you want to increase your sales, your business should invest time in learning what motivates your customers. It can include their challenges, needs, wants, concerns, questions, and intentions. You need first to identify what needs your product/service is fulfilling before expecting sales to skyrocket.
If you understand your customer’s needs and what motivates them to make a purchase, you’ll have a better idea of how to meet their requests and make a sale.
3. Feedback and how to ask for it
Although researching your customer base can be helpful, one of the best ways to know what people are thinking is by asking. Asking for direct feedback is a great way to understand what your company is doing well and maybe what changes could be implemented to improve the user experience. Here are a few ways you can ask current (and even prospect) customers for feedback on your company in general or on a purchase:
After purchase follow-up email with a request to write a review
Public survey
Feedback submissions through social media platforms
Request for an over the phone, text, or in-person review
Inserting comment cards into the packaging with your contact details
4. Make visually appealing content
Visual elements can provide a memorable message to consumers interested in your brand. To elevate your company to the next level, utilize videos, images, graphics, animations, or any kind of visual content that will serve a purpose to your company. Use these elements to share information about your product/service, address potential questions or concerns, and attract or retain consumers.
5. Highlight your Q&A Section
Uncertainty can turn a potential purchase into a lost sale. If consumers have questions that go unanswered, they will proceed to find alternative solutions to their problems. As a business, you want to ensure that shoppers have all the information they need to feel confident in making the purchase. Having an easily accessible Q&A section on your website and social platforms can answer any additional questions buyers may have. Update this section regularly and continue addressing questions that are frequently appearing across your platforms. Helping the customer go through the research and seeking the information stage of the buying process by responding to their concerns will help finalize sales.
6. Demonstrate your full potential
One way to appeal to customers is by showing what your company can do or featuring its most current achievements. It can be beneficial to share results with your customers on your company’s growth and make them part of it. Consumers frequently need reassurance from other buyers, so highlighting customers’ testimonials/reviews for your company is a great way to build trust. This “social proof” will also show that you have a product/service that people are happy with and influence others who may have reservations. Be open with your customers, show them what you have accomplished, and the relationship will become stronger.
7. Run promotions often
Marketing promotions and sales are an excellent way to reward current customers for their loyalty and business while also attracting prospective customers. It’s essential to include everyone in the promotion since existing buyers could feel isolated if you are hosting a sale only for new customers.
Running promotions regularly, such as monthly or quarterly, will attract users towards your site and potentially sway hesitant buyers to make the purchase, thus increasing overall sales.
8. Create and engage with the community on social media
If you don’t already have an established community of users on social media, create one. You can do this by building a platform for your company to provide a space for people to interact, share thoughts and opinions. Your online presence can significantly impact the way buyers make their purchasing decisions and if they want to support your brand.
Use this community of consumers that are interested in your brand to your advantage. Interact with users often, respond to comments and questions, post engaging content, and motivate your community to engage with one another. The more growth the community experiences, the more attention your company will receive.
9. Stand out
If you want to increase sales, you have to make your product or service stand out among your competitors. Show customers what you have to offer and why you’re unique. Don’t be afraid to push your boundaries and do something uncommon; it might pay off in the end! Whether it be a funny video, interactive campaigns, or supporting charitable causes. Doing something different will make your company stand out and help you get your sales where you want them to be.
How to increase sales with prospective customers
Prospective customers may be aware of your products or what you have to offer but haven’t made a purchase yet. Here are a few ways to turn those prospects into buyers:
1. Perform a content audit
A content audit can provide you with information on your current website, mailers, marketing materials, or any other content you need more details on. An audit will let you know what is effective and what isn’t working. Then, as a business, you can make the necessary changes to suit your primary goals. This way, you can work towards creating a better experience for the customer.
2. Optimize social media profiles
Social media is a powerful outlet for your company that is increasingly influential on consumers. The company’s online presence, interaction with users, and posted content can heavily dictate whether a customer wants to support your brand and make a purchase. Each of your profiles should reflect who you are as a company, what you represent, what values you stand for, and the product/service you offer. Each platform should be consistent throughout. Optimizing your social media platforms will ensure you connect with the right audience and build a relationship with them.
3. Promote no risk incentives
An additional way to influence consumers to make a purchase is to offer risk-free incentives. It can encourage customers that are thinking about buying actually to make the purchase. Promotions include but are not limited to:
A free trial you can cancel at any time
Special deals for first-time buyers
Limited-time package promotions
Money-back guarantee return policy
Gift with purchase
4. Focus on touchpoints
When wanting to increase sales, any business should look at touchpoints. A touchpoint in marketing is a point of contact between you and a potential customer. Roughly eight touchpoints are required before a customer will make a purchase. That means that a customer needs to come into contact with your brand around eight times before they will buy from you. A touchpoint can include shopping in-store, reading a review, contacting customer service, or seeing an advertisement on social media.
For this reason, if you want to increase sales, focus on increasing your customer touchpoints. Of course, the right touchpoints to use will depend on your company and the target market, but it will ensure you reach consumers more often and in a memorable way.
5. Generate word of mouth
Sometimes the best advocates for your brand are the people who have experienced it firsthand. Utilize your current customers to create buzz around your brand and products/services. If your company has a good reputation and products that people want, it will get attention. Some ways to ensure word of mouth are:
Encourage buyers to write reviews
Create a referral program
Host an email campaign where subscribers can share it with friends
Ensure all content on the website and social platforms are shareable
Whether you are trying to increase sales with current or new customers, one element to keep in mind is cost. Acquiring a new customer can be five times more expensive than retaining one due to increased resources and time spent to find new prospects. For this reason, keeping the right customers happy is very valuable.
Increasing sales takes time
Although there is no quick way to increase sales overnight, we have provided you with many foolproof techniques that you can implement right now. The road to success involves dedication and perseverance for any business, but the sales will follow suit.
FAQs
How do I know if the strategies I implemented to increase sales are working?
Although it takes time to see significant changes in your sales, there are a few indicators that will let you know if you’re on the right track. Customer engagement, interest in your product/service or an increase in your online community can dictate if the strategies you put in place are working. You may not see immediate growth, but obtaining more attention is an excellent start.
When will I generate more sales?
If you’re looking to increase sales, there is no set timeline of when you should expect to see positive results. Many factors can go into your business’s success. It depends on the methods that have been implemented, whether prior research was valid, the market, or how consumers respond to the changes. The best way to see results is by comparing them to your sales before making changes and recording if there has been an increase or decrease in sales.
How can a small business increase online sales?
Shopping on online platforms has become increasingly more popular due to its convenience and endless options. As a small business, if you are looking to increase online sales, focus on optimizing your webpage. Creating the best possible experience for the user will attract more attention to your page and eventually more sales. It can include optimizing the home page, loading speed, visual elements, and ease of use. A website audit will provide more information on what can be improved.
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