If your profits are off the charts one month and in the gutter the next, your business will struggle to stay afloat. According to the Bureau of Labor Statistics, 20% of small businesses don’t last the first two years.
By generating a steady income through boosting sales revenue while holding down costs, you up your chances of sailing through as one of the 80% of small businesses that last. This article will investigate some of the ways to raise your sales on a budget.
Leverage social media
The best sales training online programs emphasize how important it is to go to where your customers are. With statistics indicating that 82% of Americans are active on social media, you can use social media platforms as a cost-effective way to reach potential customers.
Consider using accounts on social media sites like Facebook, LinkedIn, or Instagram. Do some research to gain insights on which sites your customers use more often.
Once you create your social media accounts, or spruce up your existing ones, be sure to keep the content you post relevant and vibrant. For instance, engaging stories about customers’ experiences and well-shot photographs can go a long way to getting new customers to notice you as well as reigniting interest in existing customers.
Also, be sure to actively engage with your customers. Responding to customer comments is one simple, effective, and budget-friendly way of engaging.
You can also take advantage of online social media advertising, which often doesn’t cost the earth, to pull in more customers.
Build strong customer relationships
Your existing customers are the starting point for growing a solid customer base. By training your team to ensure that your customers are happy, you increase your chances of grabbing more sales.
So how do you make sure customers are happy with your business? Usually, the best way to know your customers’ views is to ask.
When you probe into your customers’ opinions on your products, services, and your customer service, you can use the feedback to improve how you conduct business. You can also use this information to develop stronger customer relations.
When you form solid relationships, you can create repeat business that keeps your sales on track. A healthy relationship with customers also makes it easier to upsell your offering.
Strengthen your customer service
A study by American Express showed that 90% of customers tell their network about a shopping experience they had, whether positive or negative.
When customers are satisfied with your customer service and what you sell, they will often become willing brand ambassadors.
On the flipside, when customers have a negative experience, they tend to spread negative sentiments both online and in person. Negative reviews can easily soil your brand image.
To maintain your grasp on sales, consider enhancing your customer service through low-cost means like using customer feedback. To stay a cut above the rest, you could also research how your competitors handle their customer service.
Train yourself to use creative strategies to promote your products for less. For example, consider putting your business’s posters on your car to turn it into a mobile advertising billboard. You might also give out custom bumper stickers to your customers.
Marketing strategies are as inventive as you make them, so consider investing some thinking time. Also, test out a few methods until you land on the best techniques that hit the right notes for your business.
You can also nudge your customers to become your brand advocates by creating a referral program. For instance, you can offer an online discount when customers bring in new business.
Increasing sales on a budget
With some creativity, you can find low-cost ways to steer your sales in the right direction.
Consider using social media platforms to reel in more customers. Ask customers for their experiences, and invest in training to enhance your customer service and increase loyalty. Most importantly, keep a sharp focus on strong relationships with customers. When your customer feels valued, you can improve the consistency of your sales through referrals and repeat business.