Five ways to increase sales even in a down economy

Guess what? All business owners want to increase sales. Astounding? Hardly. But what is surprising is that most of these owners do not utilize all five marketing strategies to increase sales. I’m not referring to opening new locations, diversifying products or hiring additional salespeople – I’m talking about growing “same store” sales through marketing initiatives.

Below are the five strategies to increase sales. I happily share them with all our clients, and with you, because they’re flexible, consistently productive, and can be implemented by every type of business, large or small. Best of all, four of these five strategies are often low-cost or downright free – particularly important in today’s economy.

1. Increase New Customers
Advertising to attract new customers is a critical part of to any long-term business plan, but it also has many complexities. Advertising is expensive, media choices can be overwhelming, viewership is fragmented and down, and today’s audience is jaded. A less obvious, but more significant hurdle is that in order to attract new customers you typically have to steal them away from competitors – and a lot of customers aren’t interested in changing their habits. So, it’s critical that you are persistent with your efforts and compelling with your message.

Happily, there are other ways to increase sales, and they’re staring you right in the face every day: your customers. The fact is it is easier and less expensive to increase sales from existing customers than try to win over new customers.

You can communicate with existing customers when they visit or through mail and email at significantly less cost and higher efficiency than shotgun advertising to the general public.

Existing customers already know, and hopefully like your products and service. You don’t need to explain who you are, what kind of business you run, where you are located, what you charge, or why you are a better choice than your competitors.

You already know about your customers (and can easily find out more), so you can focus your sales-building actions on their specific wants and needs.

So, before you place all your eggs in the advertising basket, make use of the following ways to increase sales. They are far less expensive and can be put into action quickly and easily.

2. Increase Average Sale
The easiest time to increase your average sales is when your customer is already buying something, wallet in hand. Simply give them a reason to want to spend more. Perhaps you think this only works for select businesses (think “Do you want fries with that?”). But almost any business can up sell quality, add-on products and services, and maintenance contracts to increase the average sale. A retailer can offer a shoe tree when ringing up the wingtips, the landscaper can pre-sell a fertilizer program when laying sod, the attorney can introduce the idea of a trust when drafting a will, and yes, even the ad agency can offer sales training to accompany an upcoming campaign. Have these add-ons ready in advance, promotional materials ready, and then practice the offer. With some creativity, this approach can work for most every business.

3. Increase Frequency
No matter how many times a year your customers “shop” at your business, increasing this number can quickly improve your bottom line. This can be done both while they are physically at your business, or by contacting them later. Incentives to return, loyalty programs, and educational programs can be handed out in person or mailed/emailed at a later date.
Note: plan a full calendar of promotions – it is unlikely any one offer will attract all customers to take action. Track results and make a note to repeat successful promotions in the future.

4. Increase Margin
The downside to up-selling is that your customer can start to feel that doing business with you = spending a lot. To prevent this syndrome, and to add another arrow to your sales-growing quiver, find ways to reduce your costs of goods. Working with your vendor, you can negotiate a special discount on a promotional item or service. Then you can keep a greater margin when you sell at the regular price. If your negotiations are particularly successful you can pass some of the savings to your customer so they benefit as well. Best of all this strategy not only defuses your customer’s impression that you are expensive, but it doesn’t cost your business a cent! Everyone wins!
Note: don’t assume your vendor will resist this approach – they might need to move additional merchandise.

5. Increase Retention
Even if they claim they are 100% satisfied, you will still lose some customers. Why? Some will move, some will die – you can’t do anything about that. But some customers will leave simply to try something different or less expensive. The more competitors you have, the more important it is that you utilize this last strategy: increase retention by offering new products, services and promotions. Review your various products, and create excitement about those that are less known – especially less expensive items. Consider menu updates, live music nights, additional services, décor updates, educational programs or charity events. The goal is to remain fresh, exciting and relevant in your customer’s eye.
Note: It is more difficult to win new customers than to keep existing customers. Spending a little to keep current clients will always be less expensive that spending later to replace them.

Reading the menu is not the same as knowing how to cook the meal
The five ways to increase sales aren’t new, but there are important skills to learn:

Specific creative solutions for your unique business.

How to use them in unison so each strategy reinforces another.

Testing the concepts so you can see an immediate and positive effect on your sales.

How to use them in an ever-changing consumer and technological environment.

Prioritizing them so future marketing initiatives are paid for by past successes.

Building all 5 into your marketing calendar so you do not miss the opportunity each provides.

Learn more – no obligation.
Interested in learning how the “5 Ways To Increase Sales” can work for your business? Call us. We’ll come to you, and discuss how we can help you get started. If you want to take it to the next stage – terrific – you’ll find Forward5 easy to work with, and very affordable. If you don’t – no problem – we’ll be off and you will have an immediately useful, affordable marketing insight that will empower you to increase sales right away. Contact Paul Waxman for your no obligation meeting today.

Where marketing strategies + creative design combine


	home the right fit portfolio 5 ways blog contact us Five ways to increase sales even in a down economy Guess what? All business owners want to increase sales. Astounding? Hardly. But what is surprising is that most of these owners do not utilize all five marketing strategies to increase sales. I’m not referring to opening new locations, diversifying products or hiring additional salespeople – I’m talking about growing “same store” sales through marketing initiatives. Below are the five strategies to increase sales. I happily share them with all our clients, and with you, because they’re flexible, consistently productive, and can be implemented by every type of business, large or small. Best of all, four of these five strategies are often low-cost or downright free – particularly important in today’s economy. 1. Increase New Customers Advertising to attract new customers is a critical part of to any long-term business plan, but it also has many complexities. Advertising is expensive, media choices can be overwhelming, viewership is fragmented and down, and today’s audience is jaded. A less obvious, but more significant hurdle is that in order to attract new customers you typically have to steal them away from competitors – and a lot of customers aren’t interested in changing their habits. So, it’s critical that you are persistent with your efforts and compelling with your message. Happily, there are other ways to increase sales, and they’re staring you right in the face every day: your customers. The fact is it is easier and less expensive to increase sales from existing customers than try to win over new customers. You can communicate with existing customers when they visit or through mail and email at significantly less cost and higher efficiency than shotgun advertising to the general public. Existing customers already know, and hopefully like your products and service. You don’t need to explain who you are, what kind of business you run, where you are located, what you charge, or why you are a better choice than your competitors. You already know about your customers (and can easily find out more), so you can focus your sales-building actions on their specific wants and needs. So, before you place all your eggs in the advertising basket, make use of the following ways to increase sales. They are far less expensive and can be put into action quickly and easily. 2. Increase Average Sale The easiest time to increase your average sales is when your customer is already buying something, wallet in hand. Simply give them a reason to want to spend more. Perhaps you think this only works for select businesses (think “Do you want fries with that?”). But almost any business can up sell quality, add-on products and services, and maintenance contracts to increase the average sale. A retailer can offer a shoe tree when ringing up the wingtips, the landscaper can pre-sell a fertilizer program when laying sod, the attorney can introduce the idea of a trust when drafting a will, and yes, even the ad agency can offer sales training to accompany an upcoming campaign. Have these add-ons ready in advance, promotional materials ready, and then practice the offer. With some creativity, this approach can work for most every business. 3. Increase Frequency No matter how many times a year your customers “shop” at your business, increasing this number can quickly improve your bottom line. This can be done both while they are physically at your business, or by contacting them later. Incentives to return, loyalty programs, and educational programs can be handed out in person or mailed/emailed at a later date. Note: plan a full calendar of promotions – it is unlikely any one offer will attract all customers to take action. Track results and make a note to repeat successful promotions in the future. 4. Increase Margin The downside to up-selling is that your customer can start to feel that doing business with you = spending a lot. To prevent this syndrome, and to add another arrow to your sales-growing quiver, find ways to reduce your costs of goods. Working with your vendor, you can negotiate a special discount on a promotional item or service. Then you can keep a greater margin when you sell at the regular price. If your negotiations are particularly successful you can pass some of the savings to your customer so they benefit as well. Best of all this strategy not only defuses your customer’s impression that you are expensive, but it doesn’t cost your business a cent! Everyone wins! Note: don’t assume your vendor will resist this approach – they might need to move additional merchandise. 5. Increase Retention Even if they claim they are 100% satisfied, you will still lose some customers. Why? Some will move, some will die – you can’t do anything about that. But some customers will leave simply to try something different or less expensive. The more competitors you have, the more important it is that you utilize this last strategy: increase retention by offering new products, services and promotions. Review your various products, and create excitement about those that are less known – especially less expensive items. Consider menu updates, live music nights, additional services, décor updates, educational programs or charity events. The goal is to remain fresh, exciting and relevant in your customer’s eye. Note: It is more difficult to win new customers than to keep existing customers. Spending a little to keep current clients will always be less expensive that spending later to replace them. Reading the menu is not the same as knowing how to cook the meal The five ways to increase sales aren’t new, but there are important skills to learn: Specific creative solutions for your unique business. How to use them in unison so each strategy reinforces another. Testing the concepts so you can see an immediate and positive effect on your sales. How to use them in an ever-changing consumer and technological environment. Prioritizing them so future marketing initiatives are paid for by past successes. Building all 5 into your marketing calendar so you do not miss the opportunity each provides. Learn more – no obligation. Interested in learning how the “5 Ways To Increase Sales” can work for your business? Call us. We’ll come to you, and discuss how we can help you get started. If you want to take it to the next stage – terrific – you’ll find Forward5 easy to work with, and very affordable. If you don’t – no problem – we’ll be off and you will have an immediately useful, affordable marketing insight that will empower you to increase sales right away. Contact Paul Waxman for your no obligation meeting today. Where marketing strategies + creative design combine Forward 5 Marketing Design \| 91 N Street South Boston, MA 02127 \| TEL: 857-496-1120