Sales Strategies That Don’t Cost a Fortune
Small businesses may not have the same access to cash as their bigger counterparts. While this is a definite disadvantage when it comes to bulking up on inventory or purchasing the costliest equipment, it means almost nothing when it comes to other aspects of a business.
If you are looking to boost business and don’t have a ton of money to make it happen, there are some sales strategies you can implement on the cheap. Give these inexpensive tips and tricks a shot and boost your business without breaking the bank.
Promote Products With Giveaways and Free Trials
Retailers are going to great lengths to get your business. Why should you as a smaller venue be any different? Take a look at some of your most sought-after products and run a give-a-way or sales quota promotion. For instance, you can do a “Spend $50 on X and get Y for free!” Make sure you build value in Y (more than the promotional amount), so people feel like they’re getting something for nothing. Also, free trials or samples of goods can get people through the door. The goal is to get repeat customers, not just one-and-done people.
Learn How to Upsell
You can usually get people in the door with the promise of good sales. Once they’re in, however, you want to try and get them to raise their standards just a bit. If you have three versions of a product, say a pillow, and the lowest quality one is marked down, try to step them up to the highest end one with the hope they’ll land on the middle.
Promote Companion or Complimentary Items
Many big retailers like to now group like things together in categories so when a customer buys one thing, the others are pretty prominent. Learning how to organize products like this both online and in-store can help crush sales goals all around.
Use Free Advertising Online
You have friends, and they have friends and so on. Get your friends to write up a review of your business and share it online. One of the cheapest forms of advertising is word of mouth. Ask for satisfied customers also to post reviews online. These simple acts can do a lot to drive business your way.
When it comes to meeting and exceeding sales goals, you don’t always have to spend a ton of cash. Learning a few simple and frugal ways to get customers to pay up may help make your business more successful than you ever thought possible.