Grow Your Business By Increasing the Value of Each Sale - 29 Ideas to Spur Your Brain
There are 3 ways to grow any business:
- Get more customers
- Get more from each sale
- Sell to each customer more frequently.
That's it - everything else boils down to some variation of these 3 activities.
Most owners and most managers want to grow their business. Most of them concentrate exclusively on getting more new customers.
There is lots of marketing research that is pretty consistent in pointing out that it costs somewhere between six and twelve times as much to get a new customer as it does to sell to an existing customer.
And once you have a customer it is generally pretty straightforward to get them to spend more each time they buy from you.
Your business is different. There's no way to get customers to spend more.
But I don't think so.
Here are 29 ideas for you to stick in your brainstorming pot, stir for a while, and then see what comes out at the other end.
1. Raise Your Prices
2. Sell Value, Not Price
3. Up Sell
5. Cross Sell
6. Back-End Sale
7. Extended Warranties
8. Service Contracts
9. Consult For Your Own Product
Make the sale easy
10. Terms And Financing
11. Set Up An Account
12. Try Before You Buy
13. Work With Pre-Payments
14. Develop an exclusive product or service
15. Expand Your Product Range
16. First Time Buyer Incentives
17. Concentrate On High Quality Prospects
18. Use Package Deals
19. Sell Bulk
20. Incentive Builders For Big Purchases
21. Offer Greater Variety
22. Sales commission structures
23. Set Solid Sales Goals
24. NLP Techniques
25. Sales Scripts
26. Keep In Touch With Customers
Educate your customers
28. Educate your customers - make sure they know your full product range
29. Audio And Visual Demonstrations
Still don't think you can get more from each transaction with your customers?
We like a challenge.