Three Classic Ways to Increase Sales
We’ve worked with a variety of businesses over the years across a wide range of industries. But as an experienced B2B marketing agency, we know when to push our clients back to basics instead of towards the latest trends. Read on for three “classic” but effective strategies that can lead to increased sales for your business.
1. Sell More to Existing Customers
This is always the first place to look. What else can you sell to your existing customer base? Even beyond cross-promoting existing products and services, how easy would it be to refresh a product or launch a new service to complement your existing sales mix? Your customers are your customers for a reason. They trust and value your business, so why not start here. It’s likely the easiest way to give sales a boost.
2. Get More New Customers
This is a little trickier, and usually a little more expensive. They call it “customer acquisition cost” for a reason – meaning it usually costs you something to gain a new customer. Fire up a new marketing strategy to drive additional leads, fine-tune your sales process to increase your conversion rate, or simply look for ways to close deals faster. Even modest gains in this category can make a big difference on your bottom line.
3. Increase Your Average Sale
This is an amplifier that will help your hard work on numbers one and two above pay bigger dividends. When was the last time you priced the competition? Have you implemented new processes or developed new features that increase the perceived value of your product or service? How about thinking of add-ons or up-sells that you could throw into the mix? Every little bit helps, and over time incremental revenue can really add up.
Why Not Try All Three at Once?
The biggest sales gains happen when you can do each of these things in parallel. A 10% increase in new customers, plus a 10% reactivation of existing customers, combined with a 10% increase in average sale value works out to far more than a 10% increase in sales.
So if your business is looking to boost sales and you’re thinking about the latest technology or the newest trends, maybe a more “classic” approach would do the trick! Contact us today to hear how we’ve generated big results with these strategies, and let’s chat about ways PIPEDREAM can help your business.