Posted by : Amanda Stein Tuesday, May 14, 2013
Are you satisfied with your current sales revenue? Would you like to quickly see a rise in your sales? If your answer is YES, then you should read this post to the end. Whether you are a small business owner, or you are a salesperson with a sales target or you work in the sales department in a large company, you should study these tips carefully and apply them to boost your sales. Here are 3 great ways to increase your sales you shouldn't miss.
Know Your Target Market
One of the most important things you can do to boost your sales is to define who you are selling your products to. Everyone can't be your customer. For example, if you are selling Point of Sale systems for retail businesses, your targeted market should be all retail companies in your region. So carefully defining your major market segment and focusing your efforts on that group will make a huge difference in your sales revenue.
An easy way to begin to define your market segment is to determine the income level and location of your target customers.
* Income Level: Do you sell to low income or high income earners. If you sell low end consumer products, attract more buyers by giving a lot of discounts and bonuses. But if you sell high end products to high net worth individuals or corporate clients, you can improve your sales by giving them more personal attention and support services that will make them feel more important and boost their self esteem.
* Location: Where are your customers located? Are they mainly local or are they located in different parts of the country? Wherever your customers are located, to sell more, you need to give them the impression that you are very close to them and you that you can deliver your products to them efficiently wherever they are located. If you sell online, it is important that you focus on the clients that you can offer the most efficient service delivery.
Slash Your Prices and Give Bonuses
Engage in strategic sales promotion through discounts and bonuses. This is particularly effective for low end products with high competition. First, take a quick survey of your competitor's prices. Then reduce your price slightly below the current average market price for a short period of time. Next, market this price slash aggressively and let your target customers know that the new prices will only be available for a short period of time. This strategy works at least 80 percent of the time. To further boost your sales, you can even add mouth watering bonuses as a reward for buying during the sales promotion.
Make Your Product or Service Unique
Learn to distinguish your products and services from those of your competitors. This gives your customers an incentive to buy from you. So how can you make your product unique? You can do this by promoting its major benefits to your target customers. The major question you need to answer is "What unique benefit(s) does my product or service offer to my clients? For example, does it save them valuable time while performing a task, is it easier to use than other products, will they be healthier if they use it? Once you can clearly state the value that your product adds to your clients, more of them will be willing to buy your product and use it.
There you have three valuable tips on raising your sales revenue. Before you leave, it will be very beneficial for you to bookmark this page so you can quickly refer back to these 3 ways to increase your sales you shouldn't miss.
Damian Wolf is a writer and a web marketer from Brisbane, Australia. He mostly writes about online business opportunities, finance and real estate.