“Money begets money” and so in order to earn more, you have to spend more, right? Wrong! Increasing your sales does not necessarily mean increasing your expenses if you know how and this article will tell you the secrets. Consider the following techniques:
• Be guided by the Pareto principle. This is also known as the 80/20 principle and when applied to business means that 80% of sales comes from 20% of clients. Hence, identify those loyal customers who buy more on a regular basis than others. Therefore, instead of offering special discounts and incentives across the board to all your customers (which may cost you more), offer this privileges to the 20% productive few. This will mean less expense but can gain you more mileage from your promotional efforts. “Pampering” these selected clients can have far-reaching effects on your overall business.
• Personalize your sales pitch. Instead of coming up with generic sales pitch to all your clients, tailor-made your selling message to suit your individual customer. Take the effort to know each of your customers and address them by their names in communicating with them, orally or in writing. The sweetest sound in anyone’s ear is the sound of his/her own name (or clearly sees it written on a message). If you know more than their names, you may show your concern about their families or state of their health. By showing you can relate to clients on a personal level, they will be assured that you have their best interests in mind.
• Keep your customer base growing. Gradually increasing your referrals’ list will result to increase in sales. For example, if you can add at least 2 more new prospective customer each week, that could mean 8 additional possible source of income for you per month. The growth of your list can encourage you to look for more prospects. Also, continually adding people in your list can buffer the occasional loss of others for whatever reason. This avoids depleting your opportunity to earn more at any given time. Your business should not run in a straight line, but should be heading in an upward direction to maintain growth and success and keep you motivated.
• Strive more on the quality instead of quantity. Do not grow your customers’ list just for the sake of growing it. Make sure that you maintain a high level of quality in your relations with them. Interact with them regularly by sending them email messages weekly. Set aside one day a week for this activity alone. It will be well-worth your time and effort in terms of the loyalty and trust you gain from them. If you are going away for an extended period of time, pre-writing your email messages can help those messages going in your absence. Utilizing auto-responder is a perfect solution in doing this. This will also save you time especially when you get too busy. You can also hire a virtual assistant to do this task more efficiently at lower cost.
It is just a matter of knowing and applying these techniques that can considerably increase your sales without increasing your expenses. Try them today be amazed by the results.