TABLE OF CONTENTS
- 1 How to Increase Business Sales
- 1.1 Offer A Discount
- 1.2 Psychological Pricing
- 1.3 Attractive Packaging
- 1.4 Loyalty Program
- 1.5 Price Drop
- 1.6 Special Sales with Product Launch
- 1.7 Free and Giveaway Gifts
- 1.8 Sale of Necessity Items
- 1.9 End Cap Promotion and Visibility
- 1.10 Upper Side of the Shelving In Retail Store
- 1.11 Products at Cash Counter
- 1.12 Over to You
If you are looking for the ways to increase sales in a business then this article is for you. Here in this article, we have shared 20 ways to increase your sales.
We all know ‘Sales is everything for a successful business‘. If you’re not making big sales, then it means your business is not successful. Thus, for making a successful business, it is very important to learn how to increase the sales volume.
Below is the list of techniques that a company used to increase its sales either online or offline. Following these techniques, a company attract a number of customers to their business and thereby increasing its sales.
How to Increase Business Sales
Following the same techniques, you can also increase your business sales. So, let us discuss these techniques in detail below.
Offer A Discount
This is the easiest and best way to increase your sales. Whether you’re running an online or offline business this technique will work everywhere. Customer will feel good and buy more products if they are on discount.
Psychological Price is an odd price near little less than a round off amount and has a psychological impact on the consumers. For consumers, psychologically there is a difference between 2.00 dollar and 1.99 dollars.
Actually, there is a tendency that consumers round off to the next lowest monetary unit. So, they will consider 1.99 dollars as 1.00 dollar and 2 dollars. In simple words, for consumers, psychologically 1.99 dollar is less than 2 dollar.
A creative, attention-grabbing and attractive packaging will trigger consumer emotion and grab more attention to the product. Thus, it will increase your sales.
Similarly, in the case of online business, product images plays an important role. A good image will grab more attention of the consumers.
Just refer the below image, which will you buy? Of course, the one which is very clear and attractive.
Of Course, you will buy the design on the right side. It looks attractive as compared to the left side.
In a loyalty program, you will give incentive points to your consumers to purchasing a certain product. This will in return encourage, your customers to continue shopping or using services at your store.
For example, RelianceOne Membership card. If you are doing a shopping at Reliance Retail Store, then you will be already aware of this term. It is a rewarding and transparent Loyalty program where you will gain points for every purchase made at Reliance Retail Store.
Thus, the consumer will keep visiting your store and you will more sales out of it.
Just drop the price by 10% and you will find an equivalent increase in the sales. Consumer feels good when you drop the price. No matter, by what percentage you have dropped your price. Even if there is a drop of 5%, the consumer will like the same.
The consumer will definitely buy your products after finding such a huge discount of 25 to 100%.
Here it is also important to note that don’t ever try to fool the customer by first increasing the price and then drop the same by the same percentage. This strategy will not work especially on a product with MRP ( Maximum Retail Price)
For example, in the market, the MRP of Dark Fantasy Chocolate Biscuits by Sunfeast is Rs.30. Now, if you increase the price by 10% and thereby gives a discount of Rs. 3 per unit, then this will not work. Your consumers are already aware of MRP and smart enough to identify your dirty business tactics.
So, never use this technique to fool your customers.
Special Sales with Product Launch
This is another technique to increase sales in a business. By launching a product exclusive on your website or store, you can attract more number of consumers.
India’s biggest e-Commerce store Flipkart has used this technique while launching One Plus One Smart Phone. I still remember, on the launching day of One Plus One Smart Phone, the Flipkart’s website was flooded by the number of users.
Free and Giveaway Gifts
Everyone likes free and giveaways gifts. Your consumers too. Provide free samples to them and in return ask them to share their valuable feedbacks.
This will not only increase the sales but also helps to improve your products and services.
Recently, EmbroideryShristi started providing one freebie embroidery design to their customers. With this initiative, they found a 20% increase in their sales.
Sale of Necessity Items
If you have ever been to any retail store then you will find that the necessary items like Oil, Flour, Ghee etc. are always kept at the end of the store.
This is because consumers are the frequent buyer of these items and they’re forced to travel through the entire store before purchasing it.
End Cap Promotion and Visibility
End Cap promotion is a display of products at the end of an aisle. It is said that products placed at the end of the aisle give a competitive advantage to its brand. Thus, this kind of promotion and visibility will increase your sales.
Retail End Cap Display Promotion Source: gabriellogan.com
Upper Side of the Shelving In Retail Store
If you ever been to any retail store than you will find that premium products are always kept on the upper side of the shelf whereas the cheaper products are on the lower side. This is because consumers have a tendency to look at the upper side first then on the lower side.
Thus, this will increase the sales of premium products.
Products at Cash Counter
Items like Chocolates, Ice Cream, battery etc are always kept next to cash counter. This is because of two reasons
- In case of non-availability of changes, they can give you the chocolates or any other similar item.
- Consumers make impulse decision for these kinds of purchase. Thu, they purchase the same even at the cash counter.
Above all, are the various ways to increase the sales. If you follow them it will definitely help you.
Over to You
What do you think about these techniques? Please do not forget to share your valuable feedback with us.
Further, if you’re facing any problem in increasing the sales then feel free to contact us. We will be happy to help you.
We will also like to know what all are the techniques you are using to increase sales of your business? Please do share with us in below comment box.