In part 1 we talked about how to reduce expenses and increase profits. In part 2 we talked about increasing the amount of each sale you make. Here in part 3, you’ll discover ways to make more sales.
Can you imagine increasing your sales by 10%? It wouldn’t be that hard, right? Now, what about doubling, tripling or quadrupling your sales? Whoa! Maybe you’re not so sure about that.
Your first step in increasing sales is to realize that it’s possible. Maybe you won’t be able to double sales by next week, but you could start making increases which will result in sales doubling over the next month, quarter, or year. Believing you can do it is the first step.
The next step is to figure out where your current sales come from. How do customers find your website? Why do they visit your store? How do they learn about your company, and what makes them actually place an order? How much time elapses between a customer learning about you and placing their first order? How many of your sales come from customers who have bought from you before?
If you don’t know the answers to these questions, spend some time figuring them out. It’s important to know what works. Then, you can curtail the activities that aren’t productive to free time and money for those which are. The best way to figure out what works is to test, test again, then test some more.
If you can improve the results you get, even slightly, you will increase sales. Keep making improvements, and your results will zoom!
For example, I know that I make sales when my articles are reprinted on blogs and websites, and in print publications. By putting out articles on a regular basis, I will ensure a steady stream of orders, and I will greatly increase my name recognition which will also help to increase sales and profits.
What do you do now that works for you? Commit to doing more than you do now. If you make 10 calls a day, get 2 appointments and close 1 sale, then making 1 more call every day will increase your sales 10%.
What opportunities are you missing? You may be missing out on sales which you can easily capture. Do you keep in touch with past customers and with other prospects who didn’t become customers? Remind them that you are still around, and tell them about new products in which they may have an interest.
Are you missing sales because it is not easy to do business with you? If you have multiple ways to place an order (e.g., mail, phone, web), if you take credit cards, if customers can get answers to questions quickly and easily, they are more likely to buy.
Can you open new markets for your products and services? If you’re selling to teachers now, would parents be a good market? Can you reach them cost-effectively?
Finally, be aware that revenues and profits are not the same thing. If you don’t currently know which products and services are most profitable for you, analyze your results to determine the answer. Then, focus your efforts on selling your most profitable items. You’ll see the greatest effect on your bottom line this way.