Let’s talk about the three strategies to increase your Cash FlowYou’re not making enough sales, do you say? Do you ever wonder how you can increase your cash flow into your business? If you’re a business owner like me, you think about this all the time. Now there are
3 basic Sales Strategies to Increase your Sales
through Strategic Planning and Customer Service. Whether you’re selling homes or hamburgers, there are opportunities to increase sales and gain a loyal customer base by using these strategies in your business plan.
Let’s understand the 3 Strategies
#1 Increase the number of individual sales
Companies that sell products or services that are only needed every few years or once in a lifetime like a new home or car or wedding-ring have to concentrate all their business activities on increasing the number of sales. Because once a person purchased one of these items, he or she is not going to be a customer in that market again for a long time. Now doubling your profitability requires that you double the number of sales of your product or service, then this becomes the center of focus of your marketing, advertising and your strategic planning.
#2 Make larger sales to each customer
Once the customer has decided to buy from you, you must think of ways to increase the size of the sale and therefore the profitability in cash flow. Now the good news is that, through good customer service, once the customers reach the point of liking you and trusting you enough to buy from you, he or she will be open to suggestions for increasing the size of his or her purchase. Sometimes you can UPSELL the customer to a more expensive item.
On other occasions you can CROSS SELL the customer by offering additional products or services that go along with the product or service that he or she has just purchased. Because acquiring customers can be so expensive, you can give deep discounts and bonuses to get the customer to buy something else before they leave, especially if they don’t want to buy the main product that you are offering.
#3 Frequency of Sales
Make the customers buy your product or service more frequently. If you sell a product or service that is used and consumed regularly such as food or automobile maintenance. The key to business growth and extra cash flow is to capture more of the customers. Get the customer to buy from you more frequently rather than going buying the same services from other suppliers.
Now by using these marketing techniques in your field, you’ll be able to
- Increase your cash flow
- Retain your customers and
- Gain many new ones.