Running a business requires significant effort, especially in these times when many companies are agitated by decreasing sales. But there are others whose businesses are increasing.
How do They do It?
They read, learned, and used winning marketing strategies, like the ones that we will explain. The best thing about them is that they own enterprises of all sizes and industries. Furthermore, they are not difficult to understand and execute.
Here are some winning marketing strategies to grow your business!
Convince Customers That They will be Saving Money
Convincing is a tactic that never fails. First, you try to sell other, more expensive alternatives. Then, you tell the customer the value of the actual product you intend to sell.
For instance, if you own a watch store and are looking to sell a customer a luxury watch that costs $10,000, before disclosing the price, you might mention that the price of a more expensive model is over $20,000. And that is a given that the specs of both are not significantly different.
Divide Payments into Installments
Using financing can help you increase sales. You can offer a payment facility so that the customer can purchase a product or service for which not all the money is available at that time.
For this tactic to work, you must appeal directly to consumer psychology. Thus, it is in your best interest to show him the amount he will pay each month instead of the total amount of the sale. The idea is that it seems to the customer that they will pay much less and can assimilate the expense.
Let us suppose that your business is an online classic men’s clothing store. You want to sell a suit that costs $750. If you offer it in ten installments of $75, it will seem like a much smaller amount and more accessible.
Make the Price Look Even Lower
Add another marketing tactic to increase sales effectiveness: make the customer see that the value they will pay per month far exceeds everything the product or service will bring to their daily lives.
How is this tactic accomplished? The clever idea is to divide it by day. Thus, following the example of the previous point, the $75 that the customer would pay per month for the suit they just bought would become just $2.50 per day. You will understand that it is a meager cost to wear top-notch clothes, and you will be tempted to buy.
Put a Price on Each Part of the Product or Service
Another tactic that directly appeals to the client’s psychology is to see that the product or service they are purchasing has distinct parts, each of which has value. This tactic collaborates primarily with customers who complain that the price of your product or service is too high.
Let us continue with the example of the suit that we have just analyzed. Here, you could mention that the fabric is of the highest quality and that the threads have been used to sew. You could also mention the cost of the design. And, of course, you could add that the tools they have used (scissors, sewing machine, etc.) are also top quality, which makes the overall price of the suit higher.
Add an Item to Which You Cannot Put a Monetary Price
One more strategy you can use to boost your sales is to show the customer that your product or service will bring them something intangible—an added value that will make their lives much better.
Show Monetary Benefits
Benefits are another highly effective trading strategy that will allow you to increase sales immediately. You must demonstrate to customers all the money they will save if they buy your product. It is a valid strategy for products or services that are on offer or for those that are premium.
Let us take an auto dealership as an example. If you offer a high-performance vehicle, it could precisely calculate the fuel savings you have with that model compared to others. These are the types of details that you must look at so that the customer notices that this product will save them money eventually, and that is why it is worth buying.
Give High Regard to Customers
It is believed that the most effective marketing strategies involve discussing the details of the offering, and only once the customer shows interest do you tell them the price. A better option to increase turnover is to be innovative and do the opposite. Talk about what the customer needs. Tell them that this product suits a particular sort of individual.
If they believe that they will be able to use and benefit from its features, it is convenient to know what it costs before eventually buying it. If the client is emotionally connected with the product and feels that it is for people like them, closing the sale becomes that much easier.
Offer Something Extra
A great marketing tactic that works as an immediate sales enhancer is to make the customer believe that the sale is over and then offer them an extra benefit that is completely irresistible.
For example, this benefit can include a year of technical service, a money-back guarantee if they are not satisfied with what they bought, or a 2 × 1.
Another perfect strategy is to use your website or social networks to offer this extra and remain part of the customer’s life. Imagine that as an additional benefit, you allow them to be part of an exclusive Facebook community or give them access to a section of your website with an online course on that topic.
Become an Expert in Your Area
This tactic is essential and will assure you a lot of sales: you must know your work area better than anyone. Clients must perceive you as a true expert in your field. You must manage your products or services better than anyone else.
The idea behind this tactic is straightforward and powerful: if you are perceived as an expert in the area, customers will value your opinion much more, trust you more, and, consequently, be more willing to buy your products rather than those of the competition.
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