Ever seen the business that is complaining about lack of traffic, lack of sales and how the economy is hurting business? How to increase sales in a small business is simple. There are two ways to accomplish this: One is through your existing customers and the other way is through new leads and fresh prospects.
Today I’ll cover the existing customer side of the equation.
Here’s a story to kick things off:
I was on the telephone(yes, ye ole telee) with a business acquaintance from the past and this person mentioned how a particular store he was dealing with had fantastic sales numbers. His company, we’ll refer to it as #1, had been trying to figure out how to bring in more sales yet he couldn’t quite figure out how to duplicate his customer’s success.
As I asked more questions it became apparent that the people in that particular store were the key, if he was going to increase his sales in other stores.
Yes, the people were the key that could unlock the door to additional sales. Because the sales staff at this particular store have been ecstatic about his product. They love it. Why?
Because the product speaks quality, the marketing materials support this quality and they deliver on time. Now these are the two major factors as to why this manufacturer is still in business after more than 50 years.
On the other hand you have this business’ competitor, company #2, who hasn’t updated their marketing materials or catalog in years and the owner is turning over his company to a family member and people who may not have the best intentions.
Company #2 is struggling and it looks like a long up hill battle unless they can change their plan and give it an overhaul.
Now let’s get back to company #1. What could they do to increase sales?
Simple…Use Social Proof and obtain Testimonials from the store owner and staff about his product. Then take these testimonials in written form, audio and video and use them in all of his marketing and sales efforts to obtain new business.
Because there’s nothing better than a satisfied customer singing your praises to help bring new prospects to the party.
Like I said in the beginning of the post, how to increase sales in a small business is simple; look at your existing customers and dig deep to see how you can bring them back into the fold. This should create repeat and referral revenue and once you do that you can begin to cultivate and build on the relationships you have started.
Want to know how we generated 20 to 25% repeat and referral revenue? Check out Secrets of The TIny Store and learn how to increase sales in your small business or touch bases with the Small Biz Mechanic and maybe he can help you tune up your sales engine.