Coming up with a product or service as a business idea may be simple, but selling it is the difficult part. It may be a fantastic product or service, but reaching out to the proper customers may take some time. You may have been operating for several years even, and the market just dries out; the people decrease in number. Competition may be doing something you are not.
Simply put, if you don’t sell, your business will perish, period. This is why learning tried and true sales strategies is so important. Knowing how to sell is the true key. We’ve put together a list of tried-and-true ways to boost sales in your store or marketplace in 2021.
Mix online and in-store
COVID-19 hastened the adoption of click-and-collect, a concept which had been around for a while. In the UK, 72% of online shoppers use click-and-collect.
Offering this service will increase foot traffic and sales in your store. Click-and-collect not only brings customers in the door, but it has also been shown to enhance in-store sales. People who choose in-store pickup tend to purchase something else during their visit to the store. Make sure your sales personnel are aware of what else the customer likes from their social media activity so that they can upsell.
Personalise customer experiences
80% of customers are more likely to buy from a company that provides a personalised experience. The best method to get personal is to engage with your customers on a deeper level. Make it a point to speak with them, remember their names, and take notice of the things that they are interested in.
You can use your loyalty program to obtain knowledge about your customers’ actions and use the data to optimise and personalise messaging, products, and offers in your retail business. Your finest salespeople will know how to make customers feel special in-store, including calling them by their first name.
Evoke the sense of exclusivity
People place varying values on things based on how common they believe they are. The more valuable a product, service, or opportunity looks to be, the rarer it is. Martin Lindstrom, author of “Buyology: Truth and Lies About Why We Buy,” discovered that simply adding the phrase “limit 8 cans of soup per client” increased canned soup sales. Even if the soup was at the same price the day before, people bought more cans.
That phrase creates a sense of scarcity, which in turn makes a customer feel exclusive if they get the deal. You can also announce in your stores or on your eCommerce site that items are only available for a limited time or that certain products will soon be discontinued/ go off the shelves.
Create exciting loyalty programs
Customer loyalty schemes are extremely popular, especially if you make the rewards easy to attain. The closer you get to attaining a goal, the more driven you become to do so.
Customers in a reward club were divided into two groups by researchers Kivets, Urminsky, and Zheng. Group A was handed a stamp card with ten boxes on it that, when completed, would entitle them to a free coffee. The coffee card for Group B included 12 boxes, but two of them were previously stamped.
Customers in group B filled up the card faster, despite the fact that both cards required 10 purchases to earn the incentive. The two pre-stamped boxes made them feel closer to the goal right away, so they spent more money and moved faster to get there.
There are now excellent digital-focused loyalty programs too. Also, be inventive! These programs allow you to personalise the presentation to reflect your brand and speak to your target audience.
Reward your employees
The remedy to your sales deficit may need you to involve employees. Business leaders should endeavour to have an open communication with employees and make an attempt to include stakeholders in the creative processes when it comes to driving growth inside an organisation, particularly in retail. Staff on the ground frequently have the most in-depth understanding about a situation.
Offering prizes to employees who work hard every day to develop new ways to meet your company’s sales goals is one of the finest ways to ensure that a growth mentality becomes an intrinsic part of the corporate strategy.
Offering incentives to employees, such as staff discounts or early access to sale items are frequently crowd pleasers. Cash bonuses, and physical awards that they can take home and keep, are also great ways to ensure that they feel recognised, valued, and appreciated as the company grows and succeeds.
As a business, you can do a number of things to revitalize your growth and stay relevant to your customers. In this digital era, you need to remain connected and learn the different ways to keep your sales improving. The key is a curious mind and continuous effort.