April 20th, 2011
Today we wrap up our five part series on stimulating sales in a slow economy. Hopefully, you’ve already begun to implement some of the suggestions we’ve offered (if so, you’re almost certainly experiencing a boon in your sales!) If you have additional tips or suggestions, please feel free to post a comment here and share your ideas with us.
In this final installment, we’ll look at growing your reach. This is a fundamental concept to master, in any kind of economy, but especially when sales seem to slow down.
How can you grow your reach? Advertising might be the first thing that comes to mind, but if you’re already experiencing a decrease in sales due to the economy, you may not have any additional ad dollars in your budget (and adding more could be a hard sell to the corporate higher-ups). But advertising is not the only way to expand your reach.
If your business is primarily brick-and-mortar or local, consider expanding to include online sales. Many free and effective marketing strategies can be implemented, from blogging to article writing to social media marketing.
Conversely, if you mainly conduct business online, consider focusing some of your efforts on your local market. This can include free and low-cost marketing tactics such as public relations, local media interviews (which are free, as opposed to costly ad spots), flyering, coupons, drop cards, networking functions, etc.
Additionally, you may want to create supplemental services or products – these might include slight variations on existing products and services, but targeted at more of a niche market.
Finally, take a look at your greatest resource — your existing client base. It’s a known fact that once people buy from you, they are highly likely to buy again (especially if you delivered what you promised in the original sales offer). Therefore, it makes sense that you would contact your existing clientele to upsell, assist, presell future services or products, etc. Do not underestimate the power of selling to your existing client base!
Just to recap:
Step 1 – Know your target market. Learning what makes them tick will help you identify what triggers will compel them to buy now.
Step 2 – Adjust your sales strategy according to what motivates your buyers.
Step 3 – Do what the winners do – cultivate the mindset of success. Look for evidence that people are buying right now.
Step 4 – Create a buzz – motivate sales staff, motivate buyers, and watch your sales go up and up!
Step 5 – Grow your reach by expanding your potential client base, adding supplemental services, and looking for ways to assist your existing client base.
We hope you have enjoyed this detailed look at ways to expand your sales during a slow economy. Remember, the best way to make a sound impression is by adding images and supporting evidence to your sales presentation, and what better way to accomplish that than with an LCD rental projector from Projector123.com? Nothing could be easier — just click here to rent a projector now and experience the Projector123.com difference.
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