You can spend all the money in the world on marketing, all the effort and time on building your goodwill, all the innovation and energy on crafting the best product line, but your revenue as a business will always come down to that split-second ‘yes or no’ decision a potential customer makes when in your store or looking at their online shopping cart. For this reason, it’s important to do everything you can to ensure that the sale goes through, and that you try to convert those who might have said ‘no’ into those who’ll say ‘yes’ to a product every single time.
While keeping existing customers is essential to running a business well, expansion can never be expected unless you hope to bring new people into the fold, and craft new fans of your brand and product. This means that careful sales tactics, the ability to reflect on your statistical analysis and consider the trends of the future can pivot you into a better position, to ensure that you allow the customer to hold no unwarranted hesitancy when considering if your firm is worth it.
Let’s consider how that might look:
Exclusivity
The feeling of being offered something exclusive is quite a strong pull for many people. Not only do promotions like this offer the guest a deal to help you up-sell something in addition to their original order, but it’s actually more likely going to help you sell the first thing in their cart. It can also be worthwhile to put this on a timer, perhaps valid for one day after the message is received. This way, consumers feel as though they have a great opportunity to take advantage of. Of course, this might seem predatory, but in reality this offer can be selected or deselected as easily as the choice to purchase the initial product they were considering. You are providing another product, preferably a related one or one that can support it, in the best manner possible.
To illustrate this correctly, let’s use an example. You’re a toy retailer. It’s Christmas time. Your online visitor is picking up a collection of toys that need battery power, but batteries are not included. Offering 75% off batteries might be a negligible loss to you, but in reality can help the person save money, and show them that this is the best deal they might get. This can not only help them feel good about the purchase and wish to return to your store in the future, but it can prevent them from trying to compare costs from price aggregators and instead secure the purchase they might have been considering. This way, you benefit, and the consumer benefits.
Important Layering
It’s quite interesting to see how the human psyche can be appropriately led to a sale. There’s a reason psychologists are often paid big bucks by corporations to figure out purchasing patterns, and how to press the buttons of their potential customers to negotiate a sale on the best terms for the business. This is where placing items together carefully can be worthwhile, especially when formatted in a website design. For example, let us consider the promotions section of your home portal.
You might have a promotion running. You have three items there in front of you. First, you place an item that’s at the higher end of the price bracket for said category. Then, you put something cheap, something that might not complete the job required as well but is still viable. Then, you place the item you actually want consumers to seriously consider, priced reasonably, perhaps discounted a little less. This way you have led the psychology of a consumer browsing your website to realistically consider this third option. They feel they have managed to discern a great value deal compared to the higher price item, but that they also have better taste than the cheapest. This can work no matter what products you are hoping to sell, from bicycles to pizza to woolen socks
Preparedness
It’s often not all down to your website, nor might you only be targeting consumers. It could be that you wish to sell to businesses, close deals, or perhaps figure out the best partnerships to promote. These sales need a necessary human factor, and for that reason, you want to equip your staff with the best tools necessary for the job. A formatted, AI driven sales charter such as Spiro offers up to the minute information, a better method of closing deals and making good on promises, and collating information in a manner that speeds up the sales process. To this end, this and programs like it are worth their weight in gold.
With this advice, we hope you are able to see a true uptick in your revenue.
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