4 Strategies to increase sales and grow an entrepreneurship
Getting a business forward requires a lot of energy. Especially in the current times, when many merchants complain that sales fall and turnover decreases daily.
However, there is another group of lucky ones who seem to be doing well and their businesses thrive. Every day they get more customers and sell non-stop.
How do they do it?
Reading, learning and using winning sales strategies… like the 9 we’re going to explain to you below. The best thing about them is that they work on ventures of all sizes and items. In addition, they are very easy to understand and simple to implement.
The 4 strategies to grow a business
1. Make the customer feel like they are paying a low price
This tactic always works. It consists of, when it comes to making the sale, talk about other similar products (they may be of the competition) whose value is much higher than the price of what one wants to sell.
Next, you have to reveal to the customer the price of what you want to sell. This price, of course, should be much lower.
For example, if you have an optician and want to sell a customer a pair of luxury glasses, which cost $1,000, before revealing the cost, you might mention that the cost of laser eye surgery is more than $20,000. And that’s not to mention that surgery can lead to physical problems in case they do it wrong.
Your task here will be to convince the customer that for a much smaller figure would have solved their vision problem and the sale will close itself.
2. Divide into quotas
Using financing could help you increase sales. You offer a payment facility so that the customer can purchase a product or service for which not all the money is available at that time.
For this tactic to work, it is right to appeal directly to consumer psychology. Thus, you should show him the amount he will pay each month instead of the total amount of the sale. The idea is that the customer finds that the figure they will pay is much lower and can assimilate the expense.
Let’s say your business is a classic men’s clothing store online. You want to sell a suit that costs $750. If you offer it in ten installments of $75, it will seem like a much smaller amount and easier to face.
3. Make the price look… even less
Add to this another business tactic to gain sales effectiveness: to make the customer see that the value they will pay per month far exceeds everything that the product or service will bring to their daily life.
How do you achieve this tactic? A good idea is to divide it by day. Thus, following the example in the previous point, the $75 that the customer would pay per month for the suit they just purchased would be transformed into just $2.5 per day. You’ll understand that it’s a very low cost to be wearing top-notch clothes and you’ll be more tempted to shop.
4. Price each part of the product or service
Another business tactic that directly appeals to the customer’s psychology is to make it know that the product or service they are purchasing is made up of different parts, and each of them has a value. This tactic works especially with customers who complain that the price of your product or service is very expensive.
Let’s follow the example of the suit we just analyzed… here you could mention that the fabric is top quality, as well as the threads that have been used to sew. You could also bring up the cost of the design. And, of course, you could add that the tools they have used (scissors, sewing machine, etc.) are also top quality, which makes the total price of the suit higher.