3 Surefire Ways to Boost Sales in Low Season
Are you experiencing a decline in sales? Is it perhaps a slow season for your niche? Whether it's a bad economy or not, there are times when the sales of a certain industry face some challenges.
If you've been in your business long enough, you know what your slow months and peak months are. It is important to know this so you can prepare. Take a lesson from ants. The ants know when rainy days are coming so they stock up on food. The same applies in your business. If you know when the slow season is, you can plan and prepare. With careful planning and enough preparation, you can reduce your business losses during slow periods.
If you want to boost sales, it is not only about getting new customers: you already have an existing database of converted prospects – your current customers! Make an effort to reach out to them. They are the best source of additional sales at any given time in your business. Repeat business is a gem, take care of it. Most businesses reduce their marketing and advertising budgets during tough times. Do not cut back on marketing, even when everybody else does! This is a great opportunity for you to be even more' out there'. Your target audience will see less of your competition and more of you! This gives you a better chance to gain more customers. Reality is…money begets money. It takes money to earn money. You cannot cut back your marketing expenditures and expect results. Set aside a marketing budget for the slower season way ahead of time. Below are some marketing ideas that I would like to share…
3 Surefire Ways to Boost Your Sales
1. Run a Promotion
Consumers love promotions! Promotions usually trigger your market to act even when they didn't plan on it. Notice how this might have happened to you sometimes. You get your mall and although you didn't plan to buy shoes, you notice that Dillard's is having a 35% off sale on your favorite brand. Who can resist? You find the perfect shoes and buy them, of course.
Why did you buy? Because there's a sale on and you know about it!
There are a couple of ways to run a promotions:
a. Offer a Discount
You see retailers, both online and offline, do this all the time. Create a coupon code depending on where you have advertised the promotion so that you have a way to track them and see where your sales and conversions are coming from.
Have you ever heard of Payless Shoes? In my opinion, Payless Shoes creates such an effective marketing tactic using their " BOGO – Buy One Get One 50% Off" promotion. They often have "BOGO"s and this just triggers impulse buying. Come to think of it, most people do not need to buy two pairs of shoes at a time but they do anyway when there is a promotion like this. Emotional triggers are the key to a successful promotion.
Another good way to do this is to create coupons for your existing customers when they purchase. Have you ever been to HEB or perhaps Walgreens? Do you notice that when you purchase, depending on the amount of your purchase, they often give you a coupon for a certain product? At HEB, we often get a '$3.00 off" coupon for their gas. Now I don't usually go to HEB to put in gas, but whenever I have a "$3.00 off" coupon, I make sure to put in gas there. They earn my business with that coupon! It works, doesn't it?
b. Add Value
Can you add a freebie to your existing product or service? If you're selling jewelry, perhaps add a free pair of earrings or a charm or a pendant. If you're offering car insurance, add a $15-25 gas card. If you're into network marketing, offer a gift card when they sign-up. These might sound like it's going to cost you, but you have to understand that in marketing, you give to get. If you want results, invest in giving to your customers and prospects.
2. Create an Affiliate/Referral Program
Who doesn't want to earn money just by sending a friend to someone's way? In my city, Wells Fargo Bank has a referral program where you receive $25.00 in your bank account if you refer someone who opens an account. Pretty neat huh?
Consider getting affiliates as well. Most internet entrepreneurs who have their own products make sales through their affiliates. They create the product, their affiliates sell it for them – a worldwide sales team! This works even for a home-based business. Reach out to bloggers in your niche market - that might be interested in becoming an affiliate.
Make sure to create an enticing commission to motivate your affiliates to do the hard work for you.
3. Offer Rewards Points Program
If you want to encourage repeat business, reward points program is a great way to go. Every business wants a repeat customer. Reward your regular customers with a gift when they reach a certain point.
The bottom line is, whether it's in season or off season, the success of your business depends largely on having the right market and your creativity and approach in reaching them. How creative and attractive is your marketing and promotion?
If you've been in your business long enough, you know what your slow months and peak months are. It is important to know this so you can prepare. Take a lesson from ants. The ants know when rainy days are coming so they stock up on food. The same applies in your business. If you know when the slow season is, you can plan and prepare. With careful planning and enough preparation, you can reduce your business losses during slow periods.
If you want to boost sales, it is not only about getting new customers: you already have an existing database of converted prospects – your current customers! Make an effort to reach out to them. They are the best source of additional sales at any given time in your business. Repeat business is a gem, take care of it. Most businesses reduce their marketing and advertising budgets during tough times. Do not cut back on marketing, even when everybody else does! This is a great opportunity for you to be even more' out there'. Your target audience will see less of your competition and more of you! This gives you a better chance to gain more customers. Reality is…money begets money. It takes money to earn money. You cannot cut back your marketing expenditures and expect results. Set aside a marketing budget for the slower season way ahead of time. Below are some marketing ideas that I would like to share…
3 Surefire Ways to Boost Your Sales
1. Run a Promotion
Consumers love promotions! Promotions usually trigger your market to act even when they didn't plan on it. Notice how this might have happened to you sometimes. You get your mall and although you didn't plan to buy shoes, you notice that Dillard's is having a 35% off sale on your favorite brand. Who can resist? You find the perfect shoes and buy them, of course.
Why did you buy? Because there's a sale on and you know about it!
There are a couple of ways to run a promotions:
a. Offer a Discount
You see retailers, both online and offline, do this all the time. Create a coupon code depending on where you have advertised the promotion so that you have a way to track them and see where your sales and conversions are coming from.
Have you ever heard of Payless Shoes? In my opinion, Payless Shoes creates such an effective marketing tactic using their " BOGO – Buy One Get One 50% Off" promotion. They often have "BOGO"s and this just triggers impulse buying. Come to think of it, most people do not need to buy two pairs of shoes at a time but they do anyway when there is a promotion like this. Emotional triggers are the key to a successful promotion.
Another good way to do this is to create coupons for your existing customers when they purchase. Have you ever been to HEB or perhaps Walgreens? Do you notice that when you purchase, depending on the amount of your purchase, they often give you a coupon for a certain product? At HEB, we often get a '$3.00 off" coupon for their gas. Now I don't usually go to HEB to put in gas, but whenever I have a "$3.00 off" coupon, I make sure to put in gas there. They earn my business with that coupon! It works, doesn't it?
b. Add Value
Can you add a freebie to your existing product or service? If you're selling jewelry, perhaps add a free pair of earrings or a charm or a pendant. If you're offering car insurance, add a $15-25 gas card. If you're into network marketing, offer a gift card when they sign-up. These might sound like it's going to cost you, but you have to understand that in marketing, you give to get. If you want results, invest in giving to your customers and prospects.
2. Create an Affiliate/Referral Program
Who doesn't want to earn money just by sending a friend to someone's way? In my city, Wells Fargo Bank has a referral program where you receive $25.00 in your bank account if you refer someone who opens an account. Pretty neat huh?
Consider getting affiliates as well. Most internet entrepreneurs who have their own products make sales through their affiliates. They create the product, their affiliates sell it for them – a worldwide sales team! This works even for a home-based business. Reach out to bloggers in your niche market - that might be interested in becoming an affiliate.
Make sure to create an enticing commission to motivate your affiliates to do the hard work for you.
3. Offer Rewards Points Program
If you want to encourage repeat business, reward points program is a great way to go. Every business wants a repeat customer. Reward your regular customers with a gift when they reach a certain point.
The bottom line is, whether it's in season or off season, the success of your business depends largely on having the right market and your creativity and approach in reaching them. How creative and attractive is your marketing and promotion?
http://www.entrepreneurchic.com/how-to-increase-your-sales-in-slow-seasons/
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