Increasing profits is often made through driving growth. And that is usually accomplished by boosting sales. There are various strategies and tactics entrepreneurs can do to increase sales. Here are some of them.
Sense of Urgency
As long as it’s done ethically, a great sales approach is to include some sort of a sense of urgency. For example, your sale could last only a limited amount of time. Many people, out of fear of missing out (FOMO), will jump aboard.
Similarly, you can create a sense of scarcity. For example, you could limit the number of customers who get a special discount. Or the next 25 orders get a special bonus. Once again, FOMO will be in effect, and many people will find it hard to miss out.
You’ve seen this sales tactic with many apps on mobile phones. There is a free version, but a premium version with more features costs extra. People love the price of free.
Solve the Problem
Businesses solve problems. If you’re not solving problems, you’ll go out of business. A good salesman needs to emphasize the problem-solving benefits of your products.
This might sound easy, but many salesmen are off the mark. Talk to your customers to understand them. What are their pain points? How satisfied are they with the products they buy? You need to talk to them first so you can have firsthand knowledge.
There is no such thing as bad publicity. Go on podcast interviews. Write guest post articles. Post on Twitter and Instagram a dozen times a day. Accept opportunities to speak in front of a group. Don’t worry about over-exposure, you’re not Kim Kardashian. You’re fighting against obscurity.
Create Affiliate Program
An affiliate program can be a great way to increase sales. Many of the biggest companies online, such as Amazon, have one. At no cost to you, they’ll promote your product. All you have to do is provide a commission.
Salespeople tend to be the competitive type. Try having a contest with a big prize. If you can, make it extravagant, like a vacation to a tropical island.
Sales are the lifeblood of a business. Entrepreneurs can drive growth through various means.