Last few months, while the rest of the state panicking over MCO, my coach took the responsibilty to share 4 time-proof basic strategies to increase our sales.
That strategies are applicable even during this calamity.
Along with this evergreen tips, allow me to add on my own reading and examples for your reference.
1. Increase Number of Customer
The first layer of sales and marketing funnel is to get people to know your business.
When more strangers from your listed customer avatar enter the funnel, the more customer you will get, therefore the higher the revenue.
If you’re doing business offline, please start to expand your reach to online platforms.
As a start, you can achieve this by providing quality content in social media or using paid ads.
Imagine how much time needed to distribute 1000 flyers? Ages isn’t it?
Compared to that, when you use social media or paid ads, you can reach 10,000 or even 500,000 audience in few days.
Not to mention how much cost we can reduce from printing flyers.
Remember this formula:
⬆️ Increased number of quality potential clients = ⬆️ Increased number of new customers.
While understanding that, in order to reach quality potential clients, you may use contents such as short videos,FB/IG Live, written tips, pictorial sharing, daily stories and more.
The key is consistency. Have discipline is posting your content everyday for at least once per day.
Having difficulties to manage your social media? Here, you may use my template plan to your content:
2. Increase Your Price
You have option whether to increase your price
+ without changing your product,
+ decrease your cost of good sold or
+ offer a cost free value add items.
I recommend you to learn pricing strategy. Hubspot listed 14 strategy for us to consider:
+ Competition-Based Pricing
+ Cost-Plus Pricing
+ Dynamic Pricing
+ Freemium Pricing
+ High-Low Pricing
+ Hourly Pricing
+ Skimming Pricing
+ Penetration Pricing
+ Premium Pricing
+ Project-Based Pricing
+ Value-Based Pricing
+ Bundle Pricing
+ Psychological Pricing
+ Geographic Pricing
Take geographic pricing as example, you can increase your price based on location. Karipap in KL can be sold at RM1 per piece while in Kuantan, you can get it at 40sen.
Luckily, hubspot knows how tedious it is to determine our pricing strategy. So they prepared a template.
You may download the template here:
3. Increase Average Transaction Value
For 1 customer, increase the amount of him/her purchasing from you by :
+ cross selling with similar product
+ offer combo or bulk purchase
+ set packages
+ increase product visibility at counter
+ sell to higher market positioning
+ increase margin or price of product
+ predict when an item is on low/high demand and chart your periodic sales
+ upsell after check out
When you are at McD counter, remember how were you greeted ?
The cashier was trained to ask, ‘Nak tambah ‘X’, RM1.50 je’ that is what we call as upsell.
If you want to properly learn and execute the upsell strategy, I highly recommend you to invest in this Simple Sales Funnel by Growth Tribe :
4. Increase Repeat Purchase
To get new customer is harder than to maintain existing customer.
In fact, the words of mouth can actually have big impact to sustain our business more than how much we pay for ads.
Loyalty program, customer-only offer, follow ups, VIP rewards and many more.
Refer to this article to learn 10 methods to increase repeat orders :
My coach adviced, to sustain your business, ensure yourself to have great relationship with customers.
Get- Keep – Grow is the formula behind good customer retention strategy.
Once you get the customer, remember to keep their data in your database properly and help your business to sustain by growing with them.
While a lot of us still use old marketing funnel , please consider the new hour glass marketing.
The snowball effect of Referrals, Loyal Customers, Raving Fans, Advocates can help to keep our business in the game for long term.
To clearly visualize this concept, refer to this infographic below:
So now, can you get all 4 basics? That’s all for today’s sharing. I hope you’ll benefit greatly from this. Remember to share the khair with your friends.