If you’re running a small to midsize business, chances are you’re operating with limited resources. That fact shouldn’t limit your ability to move the needle however. Here, we offer five ways entrepreneurs can increase sales without significantly increasing their budgets.
- Become PR Savvy – Leverage the innumerable free online resources out there to learn how to write and issue press releases. Embrace the power of social media. Become a personal ambassador for your brand wherever you go. Consider every PR opportunity, no matter how small.
- Build Personal Relationships – People want to do business with merchants they know and trust. Nurture your relationships with your customers to build the loyalty you’ll need to increase your sales. Ignoring personal service will cost you in the end … committing to it won’t cost you anything.
- Offer Sales Promotions – Even the slightest of discounts can induce a customer to take notice and make a purchase. Be sure to always use words that create urgency like “limited time offer” and “today only“ in your promotional signage and marketing materials.
- Sell More to Your Current Customer Base – It may seem obvious, but oftentimes small business owners are so focused on attracting new customers that they tend to neglect the ones they already have. Don’t make that mistake. Selling again to the customer you already have on the hook is usually easier than getting a new customer to bite. Bundle products and services together when you can. Plus, implement loyalty and VIP promotions to reward your most loyal customers so they keep coming back again and again.
Finally, if you aren’t already doing so…
- Start Accepting Credit Cards – Partnering with a merchant services provider for your credit card processing needs is a great way to increase your sales. Customers who pay with credit cards spend more money than those who pay with cash. Not to mention, some customers only pay with credit cards. Don’t limit your potential sales by limiting the payment choices you’re offering.