How to Increase Sales: 17 Tips for Boosting Your Bottom Line

how to increase sales

If you’re looking for ways to increase sales, this blog post will help you! We’ll cover 17 proven tips to boost your bottom line. Read on to learn how to sell more products and services!

Above all else, always prioritize real connections.

The first tip is to stop thinking about selling and start thinking about connecting. Regarding existing customers, call them up and check in. It doesn’t always have to be about a sales pitch. I promise you’re not bothering them!

Regarding potential customers who have shown interest, don’t pressure them. Stay on their radar, so you’re right there in the first row. You need to create a relationship with your potential customer before they even consider buying from you. Try focusing on providing value instead of pushing your product or service.

Increase sales with current customers

Approach satisfied customers for referrals

When customers are happy with a purchase, they’re more likely to refer colleagues, friends, and family. In fact, according to research from Nielsen, 92 percent of consumers trust referrals from people they know. This makes satisfied customers one of the most powerful resources for increasing sales.

There are a few things you can do to encourage your customers to refer others:

-Call and check in with them. I know all businesses are different, but in my experience, working for a mid-sized company, it was more than OK to talk to my buyers as people. When you form a friendly relationship beyond sales, you create a space where it’s OK to ask for. With a friendly scenario, asking your existing customers for sales leads is entirely comfortable.

-Make it easy for them by providing referral cards or links that they can share with their contacts.

-Include a note thanking them for their referral when someone purchases using their link or card.

-Send follow-up emails after a sale thanking the customer for their business and letting them know that you appreciate their referral.

-Collect customer testimonials you can share on your website and social media platforms.  This promotional copy can be used over and over again.

Prioritize customer service

Customer service is one of the most important aspects of any business. By providing excellent customer service, companies can increase sales and boost their bottom line. Here are ten tips to improve sales through better customer service:

01. Respond to inquiries quickly

02. Be polite and friendly

03. Offer superior customer service

04. Be transparent with how you improve your business to serve them

05. Solve problems promptly

06. Anticipate customers’ needs. Use this tip in conversation and strengthen your relationship with them. 

07. Make it easy for the existing customer to buy from you

08. Keep your promises

09. Train your staff well

Last but not least, 10. Treat every customer like a VIP customer. It doesn’t matter if they buy $2000 worth of your product or service or $200,000. Word gets around. When a small business caters more to large customers versus their smaller customers, that leads to creating a bad reputation.

Approach satisfied customers with opportunities to quote new jobs

When you’ve completed a project for a customer, and they’re happy with the results, don’t be afraid to ask them if they need any other work done. Capture that satisfaction at the moment. Jump on it! Don’t wait for a week or two to ask. It’s OK to go for it. Mention that you’d be glad to quote on additional projects, and be sure to follow up if they don’t immediately respond. Offering your services can help increase sales while strengthening a positive relationship with customers.

Keep track of customer spending patterns.

It’s unnecessary to keep track of every penny that the existing customer spends, but it is helpful. Using bookkeeping software and a Google Sheet can undoubtedly help. I liked to track my customer’s purchases in a spreadsheet.   I created auto filters to track each order, delivery date, and ship quantity. When I noticed a pattern, I’d call ahead and see if they wanted to place an order. 

For example, one customer ordered 50,000 parts every November for their cosmetics line. We made powder metal weights for luxury lipstick containers. They placed the same order each year so around August, I’d call to see if they want to place an order or up the quantity slightly.  Customer needs can vary by the buyer’s personality.  So make sure that you use creative ways to bring added value thoughtfully, for each buyer.

Maintain your  list and frequently check-in

Email marketing is an effective way to keep in touch with your customers and remind them about your product or service. It can also help you boost your bottom line by driving traffic to your website or landing pages. Frequency is critical – be sure to check in frequently enough that your subscribers don’t forget about you, but not so often that they get annoyed.

Now, I’m not the best with email marketing, so if you aren’t either, don’t worry. It’s the frequency that matters! Follow up the old-school way with a phone call. Or follow up on LinkedIn. I have an “inner circle” on LinkedIn I like to scroll through at least once a week. I message them, like, and share their posts. It’s an excellent way to stay on each other’s radar.

As a bonus, you can offer special deals, free samples, answer questions, and build interest in your new product or service.  People love being in the know.

Now, let’s talk about current and prospective new customers

Reconsider Your Sales Strategy

As a financial business coach, I help my clients analyze their financial data to find opportunities to make and save money. I also look closely at their sales strategy, aka framework. 

When I say sales framework, I refer to their communication path within the sales process from “here’s who I am and what I offer” to “thank you for choosing us,” aka closing the sale. 

The framework I speak of includes:

Branding

Niche

Unique Selling Proposition (and creation of a Signature Program/Offer)

Packaging of offers

Pricing

Increase sales with strategic messaging

Strengthen your branding to boost sales

A brand is not just a part of your marketing plan.  You must create a solid and authentic brand and lead with it.   It’s essential to know who you are and what you stand for. Take the time to develop a mission statement and values that represent you and your company. Be sure to stay true to these throughout all of your branding efforts. Also, make sure your website, social media profiles, and marketing materials are consistent with each other and accurately reflect your brand.

Are you not a “techy person?”  Do you detest social media advertising? That’s OK. You can outsource the tech! However, make sure that the messaging reflects who you are and why you do what you do. 

To create a robust and lasting relationship with your customers, you need to have a recognizable and trustworthy reputation. Branding is one of the most critical factors when you want to increase sales. New customers need to identify your company quickly and efficiently to feel comfortable doing business with you.

For example, red means stop, and green means go. We know automatically what the colors mean. That’s how I clear I want your branding to be. They know you are you, and this is what you do. New customers won’t spend money when they’re confused.  Therefore, you need to have a super clear brand and marketing strategy to attract potential business.

Make sure you’re aiming toward a more lucrative niche

To choose a niche, you should first assess your strengths and passions. Once you’ve identified that, do market research and look for industries or a target audience that aligns with those qualities. You’ll also want to make sure the niche is profitable; luckily, many online tools and resources can help you determine whether or not a niche is lucrative.

I’ve had plenty of solopreneur start-up clients start their businesses because of a heart-centered purpose. Others might consider it a calling. That’s wonderful! However, make sure that the clients you intend to serve can afford you. If they can’t afford you, you don’t need to drop them. As a mentor of mine used to say, “Don’t throw the baby out with the bathwater.”  I like to help my clients expand and create a broader range of their niche to boost sales. Surprisingly, the new target market brings in fresh energy and creativity.  That’s what makes what I do fun!

Lead with your unique selling proposition

Your unique selling proposition (USP) makes you different from your competition. It makes people want to do business with you instead of them. To find out what your USP is, ask yourself these questions:

-What do I offer that my competitors don’t?  What’s my competitive advantage?

-How am I better than my competitors?

-What can I do for my customers that nobody else can?

Once you know your USP, make sure to design a signature system around it.

One book that I love is Start Where You Are by Chris Gardner. There was a time when I thought my 17-year manufacturing background didn’t apply to my training-turned-coaching business. However, after reading the book, I realized my unique selling proposition. It made me confident that I know my stuff as a financial business coach. A brown-skinned Asian lady working and leading a manufacturing company? In powder metal? Talk about unique!

Create packages to increase sales

Signature Systems and packaged offerings are an excellent tactic for building interest and helping you increase sales. They conveniently allow more customers to buy multiple items. When you package related multiple products together, it makes the purchase decision easier for your customers and enables them to get more value for their money. In addition, packaging can help create excitement around your new product or service. Using packaging to your advantage can increase sales and boost your bottom line.

Offer bonuses

Customer bonuses are a great way to increase sales because they incentivize customers to buy more products. Offering bonus items on additional purchases is a great way to boost sales and get your customers excited about your products. In addition, customer bonuses can help you build loyalty among your customer base and encourage them to return to buy from you. You want them to feel great about getting a good deal.

Utilize FOMO sparingly and wisely

Yes, using FOMO (fear of missing out) is a great way to increase sales. When new customers feel like they might miss out on a good opportunity or an exciting product, it can motivate them to buy sooner than later. Fear of missing out is a powerful motivator and can be used to your advantage when selling your product or service.

One thing about FOMO, I must say, is to not abuse it simply for increasing sales.  Many businesses have been burned when they see other businesses buy the same product or service they purchased from you at a lower price than they did.  The best salespeople know to stay authentic.  Change up the offer with bonuses or new package offers so that the FOMO makes sense and existing customers and new customers win.

Make sure your pricing strategy is competitive.

One of the most important things you can do to boost your bottom line is to ensure a competitive pricing strategy. But, be careful never to undercharge!

When you charge too little for your product or service, you tell potential customers that your offering is not worth much. This can damage your business in several ways. For example, it can make it difficult to cover costs, meet deadlines, lead to lower margins, and give new customers the impression that your company is not credible. Plenty of small businesses that play this pricing war confuse cash-in with profit. Sure, you can cover your costs and payroll, but what do you have to show for it at the end of the year?

As a financial business coach, pricing is my forte! I love this subject! Prioritize attention to the expenses you need to cover in your business over what your competitors are charging. I help my clients construct their packages and offerings to command an investment that covers expenses and much more. 

Cultivate a positive money mindset

Visit my course today!

A positive money mindset is when you view money in a way that empowers you. You think positively about it and see it as a tool to help you create the life you want. When you have a positive money mindset, you are more likely to take actions that will increase income and wealth.

If you avoid raising prices, creating packages, leading with your unique selling proposition, or procrastinating on a re-brand, please reach out. I’d love to show you how you can erase your doubt and help your business grow.

Let’s Concentrate on the Bottom Line

While this article is about more sales, I want to take you back to the bottom line. 

The bottom line isn’t what you take in in new sales. It’s profit. 

Sales and profit are two fundamental aspects of any business. Profit is the amount of money left over after subtracting all expenses from your revenue. This number is significant because it shows how successful your company is at making a profit.

On the other hand, sales show how much revenue your company has generated. This number is substantial because it indicates how well you perform in generating more sales.

While both numbers are essential, profit should be the ultimate goal for any business owner – it’s what allows businesses to stay afloat and grow!

Let’s connect.

Here’s the pressing situation.

You’re working hard in your business, but you’re not seeing the profits you want. You know something is holding you back, but you don’t know what it is or how to fix it.

I get you!

It’s frustrating when you’re putting in all the work but not seeing the results. And it can be tough to figure out what’s wrong and how to fix it on your own.

Here’s how I help!

That’s where I come in. As a certified financial small business coach, I can help identify what’s holding you back and give you a plan to boost your new profit today. Contact me for a free consultation, and let’s get started!

Published by Janet Johnson | Financial Coach for Small Businesses

Janet Johnson is the author of My Money Pivot: An Entrepreneur's Guide to Finding & Making More Money. Before becoming a coach, Janet gained seventeen years of experience in a family-owned manufacturing company. She also trained small business owners in Financial Management and Lean Enterprise for seven years through contracts with the State of Connecticut and the Small Business Administration for seven years.

Leave a Reply

%d bloggers like this: