Some Ways to Increase Sales for Your Business
Raise prices. A hike in prices may have the adverse effect of turning customers away, but if you’ve got the right niche and offer good quality services and products, you may be surprised how loyal your customers are.
Target the niches with the greatest need for your services. A smart way for a small business to grow a fan base is to offer something that is both rare and needed or desired.
Introduce new products/services. Be innovative and creative and think of ways you can extend your reach with new products, new services, or a slight twist on the ones you already offer.
Attract customers more frequently. Find ways to keep your customers coming back often. For example, a small novelty bookstore may offer a discount card that gives you five points every time you purchase something. When you’ve accumulated say 50 points, you get $10 off your next purchase. Promotions and discounts like this are employed in big and small businesses alike; they work because people love to feel that they are getting something extra for their money. There are countless other ways you can enhance some aspect of your business to make customers want to come back more often.
Attract other customers. Marketing towards the customers you already have is often more successful than trying to gain new customers, but it may not hurt you to expand your marketing boundaries and try to add more to the crowd. Perhaps you’ve identified another closely connected niche in the market that you feel you can target.
Maximize competition. Find ways to make your services and products more appealing than those of your competitors.
Build relationships. Establish relationships with other businesses, associations, and organizations that you may potentially share customers with. They may support you by advertising your services or running collaborative promotions. In other cases, they may give you referrals. Be sure to reciprocate your support.
Offer classes. Offering classes in your trade is a good way to offer valuable education and training while creating and attracting groups of specialized customers.
New marketing strategy. Sometimes to increase sales, you just need to use a new marketing strategy, one that uses a different and more fresh approach than the want you are taking
Launch a website and use social media. In this computer age, not having a website for your business is, in cyber terms, almost like not having an entrance door to your shop. The web has become a regular stop for shoppers who often explore their options online first before making informed choices and then stepping out on the road. Launching and maintaining a website is an excellent way of getting your face out there while giving you a competitive boost.
A small business accountant may be able to help you pinpoint areas where your money might be lagging and can help you work out a financial plan and forecast. In PASBA’s directory, you can find Arkansas Accountants, California Accountants, Illinois Accountants and many more representing various states and towns.
PASBA member accountants bring the collective resources of a nationwide network of Certified Public Accountants, Public Accountants, Enrolled Agents and other practitioners available to answer your tax and financial questions and streamline your business accounting, bookkeeping, and payroll operations. To find a trusted accountant in your area, visit www.SmallBizAccountants.com.
Please be advised that, based on current IRS rules and standards, any advice contained herein is not intended to be used, nor can it be used, for the avoidance of any tax penalty that the IRS may assess related to this matter. Any information contained in this article, whether viewed or subsequently printed, cannot be relied upon as qualified tax and accounting advice. Any information contained in this article does not fall under the guidelines of IRS Circular 230.
Copyright Information 2011 Professional Association of Small Business Accountants