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Increase sales

How to sell more? This is a question on the minds of every business owner in the retail industry. Everyone wants to earn more and become a market leader. What tools can and should be used to increase sales and profits?

Key metric
Turnover helps a business owner understand how well things are going and whether it is time to rethink strategy. It can be described as a key metric that every business owner considers, the only difference being whether it is in monetary terms or in the number of goods sold. To increase sales, you should increase other indicators - the average cheque, the number of incoming requests to purchase goods. And to do that, you should increase the number of leads, increase the conversion of inquiries into sales, etc.
Ways to increase sales
Today on the ElectraQuicks blog we're going to look at some ways to increase sales. Let's talk about them briefly, just to get the gist. We will go into more detail on how to improve these indicators in the following posts.
  1. Upsell - pre-sales. To increase the average cheque, you should offer customers related products. For example, if someone buys a winter jacket, you should offer them a scarf, hat, gloves or detergent for washing outerwear.
  2. promotions and bonuses. For example, 3+1: if the customer buys three products, the fourth is absolutely free. One week of such a promotion can bring you a month's turnover and increase your sales.
  3. Cross-selling - selling a more expensive product. It is possible to increase the average cheque by selling a more expensive product than the customer was planning to buy. This can be achieved through the skill of the sales manager, their ability to quickly identify the customer's needs and offer to consider another purchase option.
  4. play with the price. Instead of a price tag of 1000 hryvnias, price the product at 990 hryvnias. This will be more attractive to buyers.
  5. Regular customers. You probably have customers who have bought from you before. Start a CRM system for more effective work with buyers. Contact them and offer them a bonus for coming to the shop.
  6. Free services or products. Offer your customers free services such as home delivery for purchases over a certain amount, a discount on a product or a gift when they reach a certain amount of purchases.
  7. Higher quantity. Offer your customers to buy nine roses instead of five and get a discount, three kilos of oranges instead of two kilos of oranges, or two distance learning courses for a new job instead of one.

The volume of sales is extremely important to calculate and analyse because it allows you to see how much the number of successful transactions has increased or decreased. In this way, any entrepreneur can monitor his success and make timely decisions in the event of a sudden drop in the indicators or a gradual but steady decline.
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