Businesses that aren’t looking for ways to increase sales are in danger of becoming stagnate. In turn, stagnate companies are declining ones because organizations that aren’t growing will soon start to shrink.
Customer bases naturally dwindle over time as customers needs are fully met, they lose faith in a company’s ability to deliver or they simply move on to other projects that have different needs.
Here are five simple and exceptionally budget-friendly ways to boost a company’s sales without exerting a lot of effort:
1. Guarantee everything.
Customer are more likely to buy a product or use a service if it’s guaranteed. While only a very small percentage ever claim the benefits of a warranty, customers are more comfortable with a purchase when they know their money is not in jeopardy if the transaction goes bad.
New customers have no way of knowing whether a product or service will work for them. The most successful companies offer generous guarantees without loopholes or complicated claims processes.
2. Don’t let existing customers forget about the company.
Existing customer already know the quality of company’s products and services, making them valuable assets to companies that offer a consistent experience.
Using newsletters, opt-in email programs and even handwritten notes when appropriate to keep in contact with existing customers is one way to assure people who were satisfied once will offer their business again.
3. Let others help sell your company with an affiliate program.
Setting up an online affiliate program is better than recruiting a paid sales force. Companies only pay affiliates a percentage of sales when affiliates successfully send customers who make purchases. That means the costs are very low for the company, but it also means affiliates are highly motivated since their efforts gain them nothing if they don’t convert lookers into clickers.
Companies like Commission Junction and many others help businesses of all sorts enter affiliate marketing relationships.
4. Don’t be scared of joint ventures.
Business owners are often afraid of entering joint ventures because poorly thought-out relationships can damage a business or force the owner to give up more control that expected.
Simple, safe joint ventures can include marketing to another company’s mailing list or simply placing one company’s products in the store or on the website of another company.
5. Upsell and cross-sell to every customer.
When customers are in the act of making a purchase in person or online, having some kind of mechanism in place to show them related products or offer them discounts on additional quantities of the same product is certain to increase sales.
Upsells could also include offering personalized services to go along with information products or coordinating items to go with product purchases.
A Final Thought
These five easy, low-cost, effective techniques for boosting sales may be all a company needs to avoid stagnation.
Keeping a business from dying of stagnation involves nurturing relationships with existing customers and reaching out to make sure new customers can find the company when they want or need it.