5 Easy Ways to Boost Your Sales Right Now
Every business sometimes needs a quick influx of cash now and then. If you’re facing cash flow issues, here are a few simple strategies you can employ right now to fill in the gaps and make sure you’re covered. Use the next four to six weeks to implement some of the ideas below. Be sure to take specific measurements BEFORE you begin the challenge and AFTER.
As always, be sure you have the basics in place if you want sustained growth that continues over a long period of time (i.e. The One Sentence Marketing Plan).
Ask Your Happy Customers for Referrals
If a customer is satisfied with your products or services, they’ll be happy to spread the word amongst their friends. This is a powerful form of marketing because it comes from a real person, not you, the company.
Some people will naturally sing your praises if you ask them to, but you can sweeten the deal by offering an incentive. If you feel uneasy asking people for a favor like this, keep in mind that your purpose is to offer your unique value to the people who need it.
Offer Freebies via a Lead Magnet (or offer a Loss Leader at a Low Price), Then Offer Upsells, Cross Sells, and Bundling
Another way to attract new business is to offer a lead magnet where the user provides an email address in exchange for a high value item, such as an expert report, checklist, cheat sheet, or workbook.
You could also offer a ‘loss leader’ at a free or reduced price. This is a product you sell below market value (or free) for the purpose of bringing in new business. You’ll get some quick cash, but as importantly, gain valuable contact information and build your list of leads.
You can use a loss leader (or other low-priced offer) to introduce other products through upsells, cross-sells, and bundling. It also offers an opportunity to entice people to sign up for your email list or join your social media groups.
Have a Flash Sale
A flash sale is a great way to inject a quick boost of cash into your business. Offer a deep discount on a high-value item for a limited time only. Flash sales typically last only 24 hours. Be sure to add a call to action in your sales materials.
Choose a good product your audience will love and announce the sale well ahead of time. Make sure the terms are clear and stick strictly to them. Make sure you only offer a limited supply or for a limited amount of time. This is the perfect time to employ the scarcity principle to instill a sense of urgency. If you have people wanting to buy after the sale is over, start planning your next one.
Get Reacquainted with Past Customers
It’s much easier and cheaper to sell to past customers than to bring in new ones. You probably have some customers who haven’t bought anything in a while. Now is a good time to rekindle the relationship and offer them a good deal.
Create an offer that’s highly valuable to your customers. Create an occasion for the sale or offer it as a “thank you,” an exclusive deal to reward their loyalty. You can continue to create cash flow for your business by designing loyalty programs, VIP rewards, and similar efforts that will keep you customers returning again and again.
Offer a Taster
A great way to attract new customers or get your existing customers to buy more is to offer them a taste of the value you have to offer. Give people a free demo, free trial, seminar, or other offer where they get to see your products or services in action. This is a great offering for customers and clients who are in the “middle of the funnel”.
If you want to offer something limited, choose someone who is on the verge of buying (middle of the funnel”), or a select group of your most engaged buyers, since these are the ones most likely to purchase.
Establish a repertoire of these techniques and you can employ them whenever you need a quick burst of cash. If you understand the times in the sales cycle when your sales lag, you can prepare well ahead of time to mitigate the costs.
Are you struggling with cash flow problems in your business? KBar Productions and Boss Lady Brigade offer an extensive line of self-serve, done with you, and done for you services.
We can work with you to implement fast cash strategies and long-term business growth principles that you can apply immediately, allowing you to receive instant results while helping even more people. We can help you decide what low to no cost strategies are best for your budget, whether you’re working with $100 or $1,000,000 with a free Clarity Call.
In the meantime, be sure to download your FREE One Sentence Marketing Plan template on the Boss Lady Brigade Website. We’ll automatically keep you posted on upcoming workshops, events and free offerings.