How would you like to increase your sales…?
If you’re a business owner, you definitely want to see that happening!
Why?
Because you can see your true business potential, what it can become.
I know the feeling. I always want to push my business one step forward. My aim? To help as many business owners make the lives of their clients easier. Happy clients, thriving business… right?
I’m about to share five ways you can tweak your systems to really push your business ahead.
My best friend Ross has his own landscaping business. One day, he asked me, “Andrew, what can I do to increase my sales?”
I gave him these five tips:
1. Leads
The first step to increase your business and your sales is to get more clients.
Ask yourself these questions:
- How many people are interested in your business?
- How are you going to get more clients? Find some practical ways that can work for your own business.
One of the best things you can do is focus on the people you already know. You can increase the number of your leads by increasing the number of your referrals!
A great rule of thumb when it comes to your leads is: the more people are coming in, the more chances you have to increase your sales.
2. Conversions
Conversions are getting those people who ‘walk through the door’ to actually spend some money on your products or services.
This is how a business grows.
Here’s how Ross’ does it: as a landscape guy, he goes out to people’s houses. It costs him time, effort and money to actually get out there and do a quote.
But it’s worth it because his business’ growth opportunities increase with every single customer who says “Yes” to his landscaping services.
3. Transactions
Have you ever heard of upselling?
It’s a sales technique where a seller convinces a customer to purchase additional items that are more expensive, upgrades or add-ons, all in an attempt to make a more profitable sale.
You might have experienced this at McDonald’s when they ask you, “Would you like fries with that?”. That’s just a simple technique they use to make you buy more than you need.
How could you use this technique, naturally, in your business?
Think of useful services that go perfectly with your product.
Come up with some upgrades for a product so your customer can choose from more options.
Here’s how Ross implemented this in his landscaping business…
He would go to people’s houses, inspect their lawns and provide free expert advice like, “I can mow your lawn six times a year, but what you really need is for it to be mowed 12 times a year. I can mow it for you 12 times a year for the price of 10.”
Tip: More transactions means more business capital.
You might also be interested in: Cash Flow: Cash Is King!
4. The dollar value
Conversions and transactions are great. You know what else is great?
The dollar value of your sale
Sometimes, asking the right questions can make the difference between an average sale vs a high-value sale.
Sometimes, asking the right questions can make the difference between an average sale vs a high-value sale.
[ctt template=”7″ link=”5zqZ1″ via=”no” ]Sometimes, asking the right questions can make the difference between an average sale vs a high-value sale.[/ctt]
For example, Ross always carries a bag of fertiliser with him. It seems like a random thing. But while he’s over at his client’s place, he might as well try to fix more than just one of their problems.
“I saw your gardenias back there,” Ross might say. “They could use a bit of fertiliser. I’ve got some in the back of the truck. How about I just put a bit out there? It’s going to make them a lot better.”
How thoughtful, right? It’s also a very smart business tactic that will increase sales.
4. Profit
Your business’ profit margin is one of the most important values you need to monitor as part of your Key Performance Indicators (KPI).
The higher the margin, the more money you’re going to make.
What’s a margin?
A margin is your sale price minus your cost price.
For example, if you sell something for $10 and it cost you $2, you’ve got an $8 margin.
If you sell something for $10 and it cost you $8, you’ve got a $2 margin.
Which one would you prefer to be selling?
You might also be interested in: What is a key performance indicator? Why have them?
In a nutshell…
One question clients ask me all the time when I share my sale boosting tips is: “Do I need to focus on one of these things at a time or work on all of them at the same time?
My answer is always: “You work on all of them at the same time.”
Leads, conversions, the number of transactions, dollar value, margin… all these will work together, each adding up a bit of profit for your business.
Do you need an increase in your sales? I can help you find the right ways for you to implement these five effective tips in your own business. Let’s get in touch below.
