Existing customers form a grateful sales potential. While you should always expand your market sales, attract new customers and boost growth, retaining old customers is a key to business growth.
The customers are satisfied with the services provided and are quite willing to continue paying for the company’s products or services, that’s a way to build loyal customers base, says Chaktty.
Today, I’ll be discussing some tips to help increase your per capita sales so you can grow your business.
Create additional sales through cross and upselling
A common method for increasing sales is additional sales through upselling (upgrades) or cross-selling (supplements).
Additional services are particularly useful if additional services could be of interest to existing customers, according to businesspally.
In the case of cross-selling, other products are also offered: training when selling a software package or suitable accessories for the smartphone purchased.
If a company already carries out the facility management for another company, it makes sense to also do winter service or the glass cleaning.
Another out of the box ideas to increase sales is Upselling, and it means you attempt to sell a better and therefore more expensive version of the product.
Buying a car is a good example: Instead of the cheap basic variant, salespeople recommend the same car with higher quality equipment or more horsepower.
When upselling, it is advisable to state the price difference compared to the cheaper product instead of the higher price: “You can get the car and hands-free kit for 100 euros more.
If a company offers water damage restoration, for example , it can also do mold restoration or subsequent building cleaning .
Increase prices for more sales
Another way to increase sales is to increase prices. Sales remain the same, and the number of customers does not change either – but thanks to the higher prices, sales are higher.
This variant can be carried out quickly without much effort.
However, the danger with this idea to increase sales is that the customers are not well disposed towards the price increase and would rather go to the competition.
An increase should therefore always be carefully considered, and some customers also require an explanation for the increase. Develop a pricing strategy to make the higher prices palatable to customers.
By the way, for long-term or price-sensitive customers, it is worth considering not carrying out the price increase or carrying it out at a later point in time, says tech pally business unit director.
Comparie values for the anchor effect
Inexpensive products can usually be sold without any problems, while higher-priced products are often ignored.
To get around this, the anchor effect proves to be helpful. This psychological phenomenon takes advantage of people’s inner urge to compare products.
So that this effect can be used to increase sales, it is advisable to compare the product with a cheaper and a more expensive version.
This comparison makes customers more inclined to invest more money, according to business paly.
Services can also be compared: With transport orders orders, customers can choose, for example, from conventional goods transport within a generous time window and the more expensive delivery at a precise, predetermined time.
Having different payment models
Another way to increase sales is through payment methods. Higher-priced services or products in particular are often not readily affordable.
Many services and products can easily be paid for in installments.
If you offer your customers this option, you will then post the interest charged as additional sales.
Partial payments are also possible for subscriptions and contractual services.
If customers opt for monthly or quarterly payments, additional fees apply. They then create their profit.
As a rule, customers are grateful if they can make installment or partial payments, according to tech pally survey.
They are quite willing to pay additional costs for this service. However, if the customers have liquidity problems, the costs fall back on you.