You want to increase your retail sales, that’s a given. The purpose of any business is to bring in paying clients, and the best way to accomplish this is through marketing. If sales are low, then perhaps there’s something wrong and you must figure it out fast.
In our competitive world, getting results is all that matters. Take note that successful retailers aren’t more intelligent or talented that you are, they just learned to do things effectively while making money in the process.
Check out the practical tips below that you can apply to improve your retail sales.
Start advertising more. Sometimes businesses cut on spending for their marketing when they should actually be spending more. It’s good to increase your marketing efforts during slow periods of sale since the entire industry will be looking out to get the most out of a decreased market share.
The best way to do this is through social media that’s connected to your business website. If you still don’t have social media presence, then now is the best time to create pages on Facebook, LinkedIn, Instagram, YouTube – basically the channels that your business will benefit from.
As to your website, all promotions from your social media channels should directly go to a specific page on your website. Any business owner worth his or her salt knows that a website is a necessary investment. Start by doing a domain name search to help you name your businesses’ website name and address. A good domain name and hosting provider should be able to guide you throughout the entire steps of taking your business online, so don’t hesitate to ask for their assistance and to make use of their other tools and integrated guides.
Assess your pricing strategy. When buying and pricing your products or services, always consider the cost of goods and that your retail shop is constantly making a profit at the price point. Your product price must always be competitive while still making a profit for your business. At the end of the day, the appropriate price is the price that your clients are willing to pay for your products or services.
Improve your store’s looks. Consider leveraging on cross-merchandising techniques and impulse sales opportunities. Small changes like different lighting fixtures and creative displays may be added to attract passing customers. Try playing videos for product or service education, entertainment, and any other promotional or upsell tie-in. A lively store is always a customer magnet.
Aren’t we forgetting something? Of course not – it’s practising good customer service!
Great customer service has always been a major factor to increase sales regardless of the season. Be sympathetic to your customers to know their wants and needs. The next step is to educate them about your offerings. Lastly, let them know that you appreciate their loyalty or business. Consider offering value-added products and services.
Next, educate them about the products. Finally, let your customer know that you appreciate their business. Offer value-added services and products. Create a mailing list by asking for contact information from each customer. Remember, the customer is looking for an experience and not just a product.
That’s it! Apply these practical tips to retail store and watch as your sales improve. Best of luck! Have any other tips to share your fellow business owners? Share it with us.