Small Business Resource Power Point Series How to increase your Retail Sales Turnover
Something for Nothing… This PowerPoint sets out our suggestions for increasing your retail sales turnover, without resorting to huge discounts or heavy advertising. Everyone loves something for nothing, read on to find out how to give this to your customers – without bankrupting yourself!
Free Sample Send a mail shot containing a low cost, lightweight, sample of your product to targeted customers. This is a technique often used very successfully by pet food manufacturers. Fido loves this new treat, so the owner is persuaded to buy more.
Parcel your Products Match products which are not selling well with your best selling lines. Offer these as a package. If applicable put them in a fancy box and market them as a ‘gift pack’. This is especially effective around Christmas.
Teach Offer free classes on the use of your products, for instance if you’re selling decorating equipment, a class on how to put up wallpaper would be apt. Use the class to promote your range of products, covertly of course! Customers will be encouraged to buy from you, indeed they will feel guilty if they go elsewhere!
Demonstrations If classes are impractical, consider putting on demonstrations or workshops. These could be run in conjunction with an open day, which would also raise the profile of your business.
Free Gift Consider offering a low cost gift with every purchase over a certain amount, say £20. There are companies which specialise in providing these ‘gifts’ with your company logo emblazoned on them. Baseball caps, T-shirts, and clocks are popular choices.
BOGOF If you’ve ever shopped in a supermarket you’ll have seen ‘buy one get one free’ offers. On the right product, it’s a tempting offer. Also consider ‘mystery gifts’ – especially useful for shifting discontinued stock!
As they’re buying…. Make the customer a special offer on a related product just as they’re buying. For instance, on the purchase of a printer you could offer a 10% discount on a print cartridge.
Buy now, pay later Offering credit can really make the difference to selling higher priced items such as furniture or electrical items. Show the customer how much this item will cost per month, or even better, per week.
Flyers Add in a flyer to the carrier bag when handing over a purchase to the customer. You can use flyers to inform customers of forthcoming sales, special events, new products, or a money off voucher toward their next purchase.
Is that everything? Do your products lend themselves to larger projects? If so create product checklists to ensure no item is forgotten, and get that extra sale. You can expand these lists into mini guides, for instance, ‘Everything you need to care for your new hamster.’
Let’s get together! Is there a local business that complements yours? Co-operating with a related business, but not a rival, can be a great idea for a promotion. Try offering their products as free gifts, and allow them to do the same with your products.
After Sales Does your product need maintenance? If so, think about offering after sales service. If it’s a quick job consider making this a free deal, or offer a discounted rate for a more time consuming or expensive service.
Telephone Hotline Think about whether you could set up an advice line, offering information and guidance on the use of your products. This will help to reassure the nervous buyer, and encourage customer loyalty.
In Conclusion Provide information Use free gifts, especially branded products Supply check lists and guides Hold local business community promotions
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